Many businesses tend to gravitate towards dealer financing when it comes to financing heavy equipment, often due to its perceived convenience and accessibility. However, it's essential to consider the potential benefits of seeking financing outside of your equipment dealer. Here are three compelling reasons to explore external financing options:
Access to a Wider Range of Financing Solutions
Opting to use an independent leasing advisor that has real time market intelligence and market leverage opens up a broader spectrum of financing solutions. These advisors can offer in-depth financial analysis and unbiased advice, which might be available through something other than dealer financing. By considering the total cost of the contract, rather than just focusing on just the monthly payments, businesses can uncover more economical options that better align with their financial goals that significantly reduce the total cost of the financing.
Enhanced Flexibility to Suit Your Business Needs
Independent leasing advisors like Blue Sky Capital Strategies offer customized financing solutions more aligned with diverse business models and varying credit profiles. They can leverage group purchasing power and provide more adaptable terms in rates and credit approvals. This level of flexibility is particularly beneficial for businesses that might need to upgrade or exchange equipment during the lease period. This scenario can be challenging to manage with dealer financing.
Strategic Planning for Lease End
Working with a leasing advisor allows businesses to strategically plan for the end of the lease term strategically, ensuring a smoother transition with minimal disruptions. This approach contrasts with the typically more rigid and impersonal process associated with dealer financing. Independent advisors can negotiate favorable end-of-lease terms, potentially saving businesses from excessive over-hour usage and repair fees.
In conclusion, while dealer financing is the simplest option, exploring external financing avenues is worthwhile. These options can offer more customized, flexible, and potentially cost-effective solutions, enabling businesses to make more informed decisions that align with their long-term financial and operational objectives.