Looking to buy mini hoe

[hougie]

Hi all

I'm planning on buying a used mini hoe shortly from hopefully my local bank. I'm wondering how equipment loans differ from auto loans. I'm planning on spending 20-25000 which isn't all that much. But i'm wondering what to expect from them. Is it like a auto loan where aslong as the value of the machine is higher then the loan they'll give you the money or is there more criteria for equipment purchases.

 

[DionV]

Well, this is quite simple. I am currently employed for an equipment financing company. It is quite simple how they work. Based on $25,000 the monthly payment over:

2 years = $1,098/mo
3 years = $774/mo
4 years = $613/mo
5 years = $516/mo

2 being the minimum term and 5 is the max. All have 10% end buy-out options at the end of the term. I can keep this quote available for you. Simply pick out the equipment you would like to purchase whether it be from a dealership or a private sale (we deal with all dealerships and private sellers as long as they are within Canada) and we will take care of the rest!

dannyv@equilease.com

Hi all

I'm planning on buying a used mini hoe shortly from hopefully my local bank. I'm wondering how equipment loans differ from auto loans. I'm planning on spending 20-25000 which isn't all that much. But i'm wondering what to expect from them. Is it like a auto loan where aslong as the value of the machine is higher then the loan they'll give you the money or is there more criteria for equipment purchases.

 

[hougie]

I bought it in july, was suprisingly easy to get the loan but thanks anyway. I pay 819 over three years on just over 27000