Skid Steer Loan
Success Story: Skid Steer Loan
What: A $34K Replacement Skid Steer for Experienced Contractor
Who: A State of New York contractor started his business in 2016 wanted a newer skid steer to grow his business.
He had a low Credit Score – 536 FICO, and also had a charge off.
The customer had a difficult time getting approved for a Lease.
So why was this loan a Deal?:
- Strong collateral
- Buyer’s long track record
- Well-priced equipment
Apply Below now for a loan, or call 919-771-4177.
2021 Bobcat E60 Skid Steer Terms:
Funded: $34,000 lease
Terms: Payments: 1st = $4,000 + taxes and 26 rental payments = $1,795 + taxes
Residual: 4 monthly payments = $1,795 + taxes
Why should the customer use a purchase loan when they can easily get a Cash Advance?
Monthly payments are for 24, 36, or 48 months.
Payments are also much lower than what the Merchant pays for a 6 Month MCA.
The customer can use this monthly savings for other things.
Skid Steer Loan Approval TIPS:
- The Skid Steer should not be more than 5-10 years old.
- It should be in good condition
- Hours should not be too high based on the year
- Purchase from a Dealer not a Private Seller.
- Have pictures ready when making the financing request.
- Provide Model and Serial numbers
Why buy from a Dealer?
A dealer will have a clean title on the Equipment.
Dealers usually guarantee the equipment, so lenders
take less risk.
Private sales may have liens on the equipment.
Also, Dealers are less likely to hide equipment problems.
Private sellers may sell equipment because it has defects.
Conclusion
Get Monthly Payments with a Skid Steer Loan and use
the cash flow savings for other parts of your business.