Kworld Trend / paving equipment financing options
paving equipment financing options
The term “Paving equipment” covers many different vehicles, machines, and tools. From the trucks that haul the asphalt to the steamrollers, stripers, and hand tools that spring into action, you could fill an entire garage with the equipment that paves roads and parking lots. This means a lender needs to be well versed in financing paving equipment of all kinds.
Crest Capital has been providing new and used paving equipment financing since 1989. We have a long history of paving equipment leasing and loans, and stand ready to get you the gear you need to do the job. We have a fast online application, superb rates, and the fastest approvals in the industry. We’re also really friendly to work with, and have become a go-to funding source for paving companies nationwide.
Why take advantage of asphalt pavement financing and leasing? | Paving equipment financing options
By having the right equipment, your company can greatly increase its productivity and sales. Often, adding equipment will allow a business to expand its range of services allowing the business to reach an expanded or new customer base. The equipment used by the company is also a reflection of the organization and the sense of quality and professionalism provided. This is just another example of how upgraded equipment can attract more new customers to your business. Financing equipment offers a more sustainable way to add production assets than purchasing equipment outright, considering how rapidly technology is developing it can dramatically reduce the value of your investment in just a few years.
Asphalt Paver financing and leasing terms offer very flexible options that won’t stress the business’ cash flow, as most payback terms are between 24 and 72 months. What’s more, purchase options are available, as well as the ability to add equipment to your lease at any time.
Find out asphalt pavement financing and leasing for your business
When a company works with Crestmont Capital, that company gains access to a team of equipment rental professionals dedicated to helping businesses across the United States obtain the equipment and technology they need to truly grow and thrive. We help our clients keep up with their competitors, even if their capital is better.
We provide financing for all the equipment you need to run your business. Whether you are looking to expand or need to upgrade some equipment, we can finance equipment to take your business to the next level.
Crestmont Capital can finance everything from technology and furniture to cars and heavy machinery, while also covering consumables, installation, and other costs associated with renting new and used equipment. We invite you to contact us today to learn more about the options available to your business. paving equipment financing options
5 Paving Equipment Financing Options 2023 | Paving equipment financing options
Paving equipment, such as asphalt pavers, rollers, and coating equipment, can be an important investment for construction companies and paving contractors.
For many companies, financing is a critical factor in obtaining the equipment they need to grow their operations. In this article, we will discuss some of the most popular paving equipment financing options available.
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- Equipment Loans: Equipment loans are among the most popular financing options for paving equipment. These loans are usually offered by banks, credit unions, or specialized equipment financing companies. Equipment loans are secured by the equipment itself, meaning the lender can repossess the equipment if the borrower defaults on the loan. The interest rates on equipment loans vary according to the creditworthiness of the borrower and the term of the loan.
- Equipment Leases: Equipment leases are another popular financing option for paving equipment. Through a lease, the borrower pays a monthly fee to use the equipment for a specified period, usually two to five years. At the end of the lease term, the borrower can choose to return the equipment or purchase it at a predetermined price. Leasing can be a good option for businesses that need to maintain their cash flow, as monthly payments are usually lower than loan payments.
- Equipment financing agreements: Equipment financing agreements (EFAs) are similar to equipment leases, but they typically provide more flexibility in terms of payment schedules and termination options. EFAs are often used to purchase larger, more expensive equipment, such as asphalt plants or large paving machines. These agreements are usually structured as secured loans, which means that the equipment acts as collateral.
Instructions | paving equipment financing options
What should I consider when financing equipment?
When financing equipment, there are several important factors to consider. Here are some key considerations:
- Financing Type: There are different types of financing options available, such as leases, loans. And lines of credit. Each has its advantages and disadvantages. So it is important to choose the one that best suits your business needs.
- Interest rates: Interest rates can vary widely depending on the lender, type of financing, and your creditworthiness. Make sure to shop around and compare rates from different lenders to get the best deal.
- Down Payment: Some lenders may require a down payment, while others may offer 100% financing. Consider your cash flow and budget to determine the amount of down payment you can comfortably afford.
- Payment Terms: The term of the financing can affect your monthly payments and the total cost of the financing. Longer periods may result in lower monthly payments, but they can also lead to higher total interest costs.
What equipment is used for paving?
Paving equipment can vary depending on the type and size of the paving project. But some common types of equipment used in paving include:
- Asphalt pavers: Asphalt pavers are machines used to pave asphalt on roads, parking lots, and other surfaces. They have a hopper that carries the asphalt mix and a conveyor system that feeds the mix onto the paving surface.
- Compactors: Compactors are used to compact and smooth the asphalt after it has been laid by pavers. There are several types of compressors, including vibrating rollers, stationary rollers, and pneumatic rollers.
- Grinding machines: Grinding machines are used to remove old or damaged asphalt. Or concrete from a surface before laying a new pavement. They have a large rotating drum with teeth that grind the existing pavement.
- Asphalt plants: Asphalt plants are used to produce asphalt mix used in paving. They mix sand, gravel, and asphalt cement to create a hot mix that can be transported to the paving site.
- Skid Steer Loaders: Skid steer loaders are versatile machines that can be used for a variety of tasks. That on a paving site, including material hauling, truck loading and surface leveling.
- Dump Trucks: Dump trucks are used to transport asphalt mixture, gravel and other materials to the paving site.
- Brooms: Sweepers are used to clean the surface of the pavement before laying new pavement. It can also be used to clean up debris and excess material after paving is complete.
These are just some of the common types of equipment used in paving. The specific equipment required will depend on the size and scope of the project. paving equipment financing options
Conclusion
In conclusion, there are several financing options available to businesses that need paving equipment.
Equipment loans, equipment leases, equipment financing agreements, SBA loans, and equipment leases are all viable options depending on the borrower’s financial situation and equipment needs.
Companies should carefully consider the pros and cons of each financing option and work with a trusted lender or equipment financing company to find the best solution for their particular situation.
