Forestry equipment leasing, just like any other kind of financing, can be tricky. It’s important to know what to look for so you can get the best deal possible. In this article, we’ll show you how to get the best forestry equipment leasing for your needs. We’ll also provide some tips for foresters and loggers who rely on specialized equipment to do their work!
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What is Forestry and Logging Equipment Lease Financing?
Leasing forestry equipment is a way to get the equipment you need without having to break the bank. The agreement lasts for a specific period, and when it’s over, you can return the equipment, lease it again, or purchase it. The lease type you choose at the beginning of the lease agreement defines your options for the end of the lease.
Leasing equipment is different from other financing options. When you lease, you “borrow” the equipment over time and use it as collateral.
Benefits of leasing forestry and logging equipment
If you’re planning to finance your equipment, leasing is an especially useful option for forestry businesses. Here’s why:
- Owning forestry equipment can be a huge investment, especially if your business is seasonal. Not only do you have to pay for the equipment upfront, but you also need to find somewhere to store it when it’s not in use. This can take up a lot of space and limit your ability to grow your business.
Forestry equipment leasing allows you to use new, top-of-the-line equipment without having to pay for it in full upfront.
- Forestry equipment leasing is a great option for businesses who want to save money and avoid the hassle of owning and maintaining their own equipment. With a lease, businesses can deduct 100% of the lease payments as an operating expense.
- Leasing forestry equipment may be the perfect solution for your business. Not only does leasing let you get the best equipment for your needs, it also lets you tailor lease terms to your budget and operational needs so that payments are manageable and provide a better return on investment.
- Leasing allows you to pay fixed monthly amounts, which makes it easy to budget for. You’ll also avoid the unpredictable expenses that can come with owning this type of equipment.
- Forestry equipment can be expensive, and it’s important to stay up-to-date with the latest technology. Leasing is a great way to get the newest technology without breaking the bank. You can upgrade your equipment more often, and you’ll always have the latest and greatest technology available.
What to look for in forestry equipment leasing
Experience and Financial Expertise
Leasing forestry equipment can be a complex process, and it’s important that you work with a company who has both the experience and expertise to help you get the best deal possible.
At Finco we have proven experience in the forestry industry, and we’re dedicated to helping our clients get the best deals on forestry equipment financing to match your unique business needs.
Forestry Industry Knowledge
Having an expert around to give you information about how your business financing works and what it takes to succeed makes it easier to make decisions when it’s time to lease your equipment.
An expert company, such as Finco, should be able to explain everything from start-up costs to maintenance costs and everything in between.
Payment Plans
Ask about payment plans before you commit to any financing option. The payment plan generally depends on what type of lease you get and how long it will last.
Consider the company’s History of Success.
Talk to other clients of the company and see how reliable their services are. A good track record of success is a sign that they know what they’re doing and can help you get the best deal on your forestry equipment leasing.
Tips for foresters and loggers who need to finance their equipment – how to get
If you’re asking yourself how to get the best terms on your forestry equipment leasing, here’s a step-by-step guide to approach lease companies:
- Begin by establishing a clear idea of your financing needs.
- Prepare all the necessary business information.
- Take a look at internet reviews and ratings for the businesses you’re thinking about using, but don’t trust them completely, because they may not be accurate.
- Before submitting an application, contact a business you believe will meet your needs and budget and arrange to meet with someone in person or by phone. Meetings provide you the opportunity to ask questions and assess how attentive they are to your needs as well as whether they seem informed about their product choices.
- Make sure there are no hidden costs added later on in the process, otherwise you may get hit with a fee when your contract is up.
FAQs about forestry equipment financing
Here are some of the questions our clients, Foresters and Loggers, most frequently ask us.
What kind of forestry and logging equipment can you lease?
- Skidders
- Feller bunchers
- Swing Machines
- Wood Chippers
- Forestry Mulchers
- Harvesters
- Forwarders
- Shovel Loggers
- Stump Shredders
- Delimbers
- Feller Bunchers
- Stump Grinders
- Yarders
- Log Loaders
What credit score do you need for equipment financing?
Bad credit is not an obstacle to obtaining equipment financing. Some leasing companies provide forestry leasing to people with credit ratings below 550.
Is it hard to get financed for equipment?
The answer depends on the characteristics of your project, the equipment to be financed and the situation of your business. To find out exactly the answer for your case, contact us today.
Can I lease used forestry equipment?
You don’t always need new equipment to do your job. Getting used equipment is sometimes the best option. Here too, leasing can be a good financing option for your forestry projects.
How many years can you finance Forestry and Logging Equipment?
The repayment terms depend on financing companies and lease offers. Generally the lease term can be as much as 6 years, according to the age of the equipment.