In 2023, leasing is the #1 choice for excavation equipment financing
With the new year already underway, you probably have some new projects in mind for your business. If not, you may be wondering how you can stand out from the competition. As a contractor, it’s important to identify the best way to increase your production and stay active in the excavation business. Alternatively, you may need to purchase new equipment to meet customer demand or to expand your customer base by offering a new service, such as excavation.
Whether it’s for one of these reasons or another, Affiliated Financial Services can guide you through the entire excavation equipment financing process. Our team is made up of experts in equipment financing of all kinds and can answer all your questions. Want to learn more about excavation equipment financing? Check out our page on this subject. It may even give you some ideas on interesting machinery for your business. It is also possible to complete your financing request directly online: simple, fast and efficient!
How do you determine the best way to finance your future excavation equipment?
Like many contractors who need to purchase site equipment, you may be wondering which is better: buying or leasing? What would be the best solution if you needed an excavator, for example? We know that not everyone is familiar with the concept of financing excavation equipment. That’s why at Affiliated Financial Services, we help contractors across Quebec and Canada who are facing such a dilemma. We know what it takes to buy excavation equipment and we can offer you leasing, a much more advantageous solution for financing excavation equipment – you’ll be convinced after reading the following!
The different options for financing excavation equipment
When a new excavator or other type of excavation equipment is essential to your operation or business growth, there are several ways to get it:
1. Purchase: A new or used excavator, whether it is 2, 6 or 10 tons, is very expensive not only at the time of purchase, but also over the years. It is therefore necessary to ask yourself the following question: do you have the necessary funds to purchase equipment without affecting your working capital?
2. The loan: given the significant cost of an excavator or any other heavy equipment, your loan would affect your debt level during the entire amortization period. In addition, a traditional loan is much less tax-efficient than leasing.
3. Leasing: By choosing the leasing formula, you benefit from many advantages. For example, your monthly payments are 100% tax deductible. In addition, since you are leasing the equipment, it is not included in your balance sheet and your bank borrowing capacity is not affected. At the end of the contract, you have the opportunity to buy your excavator or lease another one.
Visit our leasing page now to learn more about this method that could take your business to the next level! Financing excavation equipment has never been easier with our team by your side.
Affiliated Financial Services: YOUR equipment financing solution!
Whether you are in Gatineau, Montreal, Sherbrooke, Quebec City or elsewhere in Canada, Affiliated Financial Services is always available to assist you in financing your excavation equipment. We have many years of expertise in the field. We will be able to accurately assess your needs to determine the best solution for your business. We are familiar with the different approval criteria of financial institutions and can therefore advise you on how to obtain financing adapted to your situation. Don’t hesitate to contact us to obtain a customized lease that will help your business grow. By doing business with our team, you will save time, money and will be able to obtain the excavation equipment you need in a minimum of time. Don’t wait any longer!
