Reuben
Senior Member
what company does anyone recommend for financing equipment?
we have used CNH in prior years.
we have used CNH in prior years.
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equipment finance
- Thread starter Reuben
- Start date
DPete
Senior Member
Citi Capitol has an equipment financing division, I borrowed 100K from them on a 4 year 6% loan to buy our 623, just paid it off in April. They were good to work with, even sent the loan docs out to the job for me to sign via the loan officer. I would borrow from them again.
CM1995
Administrator
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- Jan 21, 2007
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- Running what I brung and taking what I win
Are you dissatisfied with CNH or just shopping around?
I have used Citi Group and Cat Financial mostly. Both are good to work with. You might want to check with the local banks, they can be helpful as well.
I have used Citi Group and Cat Financial mostly. Both are good to work with. You might want to check with the local banks, they can be helpful as well.
digger242j
Administrator
Don't forget about Finance Guy. He's one of our forum sponsors, and reaching him is as easy as clicking on the "Need Financing?" button right above this thread.
Reuben
Senior Member
No we are happy with them just shopping. trying to see if we can get a beetter deal.
The last deal I priced out, Citi capital beat CNH by a little less than half a point. I have had no complaints. I have also had good service from FFC financial. They are owned by Cat, but finance any brand of equipment.
Watch out for lenders who put blanket liens on everything you own just because they finance 1 piece for you. If that is the deal, I would reccomend to walk away.
Watch out for lenders who put blanket liens on everything you own just because they finance 1 piece for you. If that is the deal, I would reccomend to walk away.
Reuben
Senior Member
Don't forget about Finance Guy. He's one of our forum sponsors, and reaching him is as easy as clicking on the "Need Financing?" button right above this thread.
yeah We have worked with capital before,they treated us well
I wanted to let everyone know that there is an article in Equipment World Magazine in June about financing. Here is the link.
http://www.equipmentworldmagazine.com/apps/news/articleeqw.asp?id=69813
http://www.equipmentworldmagazine.com/apps/news/articleeqw.asp?id=69813
Portman Finance
New Member
Hi, I would recommend you talk to your business bank direct on this. Good secured assets attract very competitive rates if you have a good relationship with your bank.
If not Google will reveal solid companies if you feed it the relevant search terms.
I would suggest Hire Purchase over finance lease. You have the security of ownership and no question marks over passing of title.
Equipment leasing / HP is the best way forward here without a doubt
If not Google will reveal solid companies if you feed it the relevant search terms.
I would suggest Hire Purchase over finance lease. You have the security of ownership and no question marks over passing of title.
Equipment leasing / HP is the best way forward here without a doubt
Colorado Digger
Senior Member
i hate ge capital they are a nightmare. i have a mini to be paid off in 2 months and they call the office every day because i am a month behind. what a joke. i use alta moneta, and lbx and they are both fine. i will call the finance guy to see about these bobcats
I've used CNH for a few purchases with good rates and fine customer service. Cat financial financed my D5G at 3.9%. Paid off now, but had no problems dealing with them.
As Colorado Digger stated, GE financial is a big nightmare. They don't know which hand talks to the other. When Citi sold their construction loans to GE, the payment information never showed up at our office so we didn't know where to send the payment for our 160 Volvo. After 2 months of hell, requested a payoff and sent a check for the full amount. Never will I ever work with a company as off key as GE.
As Colorado Digger stated, GE financial is a big nightmare. They don't know which hand talks to the other. When Citi sold their construction loans to GE, the payment information never showed up at our office so we didn't know where to send the payment for our 160 Volvo. After 2 months of hell, requested a payoff and sent a check for the full amount. Never will I ever work with a company as off key as GE.
SandwichGuy
New Member
Check out all finance companies before you work with them check. I went to http://advice-on.com/EquipmentFinancing.html which has an interest rate calculator.
Found out my initial rate was pretty high. That site also gave me the scoop on how to negotiate with them and the tricks that all finance companies use. In the end, I was able to negotiate a much better deal.
Found out my initial rate was pretty high. That site also gave me the scoop on how to negotiate with them and the tricks that all finance companies use. In the end, I was able to negotiate a much better deal.
Allison Burke
New Member
I would definitely recommend working with Alliance Funding Group in Southern California. They are very easy to work with and can finance any brand of equipment you need. Check them out for your equipment financing needs!