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Financing used equipment

Discussion in 'Financing' started by bgrice33, Sep 9, 2015.

  1. bgrice33

    bgrice33 New Member

    Joined:
    Sep 9, 2015
    Messages:
    3
    Location:
    cottondale,al
    Hi all,

    I'm wondering what are the steps to obtain financing for used equipment, I have looked on the net, but I was hoping there were good suggestions here.

    Thanks
     
  2. Shryock99

    Shryock99 New Member

    Joined:
    Sep 15, 2015
    Messages:
    3
    Location:
    Long beach
    Hey man feel free to give me a shout I actually put together financing for business and can answer any questions you might have. my name is Erik and my phone number is 562 285-6924
     
  3. First financial

    First financial New Member

    Joined:
    Sep 22, 2015
    Messages:
    2
    Location:
    California
    Hi there,

    You can finance used eq but sometime it will depend on the age of the equipment in hand. Lenders tend to stay away from financing really old machinery.. From my experience, the sweet spot is about 10 years old. We actually specialize in financing equipment, feel free to shoot me an email if you want info or just want to pick my brain on the matter: Joeh@firstfinancialweb.com

    Cheers,
     
  4. Old Junk Man

    Old Junk Man Well-Known Member

    Joined:
    Jun 7, 2015
    Messages:
    119
    Occupation:
    retired
    Location:
    11143Hwy 90 West Pocahontas Arkansas 72455
    Get a line of credit and shop for bargains. Rent to buy that way if its not up to snuff you can let them have it back. The down time & repairs on used equiptment will sometimes make the payments on brand new. Ive did ok with used stuff. However I bought it very cheep and im a above average mechanic. In the end If you have a job for it you will find leasing brand new equipt will make you the most money.
     
  5. Walter Gullory

    Walter Gullory New Member

    Joined:
    Oct 15, 2015
    Messages:
    1
    Location:
    Montreal
    I would say it would be great if you can have a clear idea of how much you can spend. For used stuff, never go above a specific amount and check rates from more than two options. I remember being in exactly the same situation back in June when I was looking for similar help. I would suggest you make an estimate calculation* before proceeding with the financing. Take into account all factors and all the best.

    Source: http://www.truckloancenter.com/truck-loan-calculator/
     
  6. Onsiteworker

    Onsiteworker Member

    Joined:
    Jan 5, 2017
    Messages:
    12
    Location:
    Cavite , Philippines
  7. mitch504

    mitch504 Senior Member

    Joined:
    Feb 27, 2010
    Messages:
    3,984
    Location:
    Andrews SC
    I thought this was an all spam thread, but, I guess "Old junk man" is probably legit.