Get Trucking Secrets Now Equipment Financing Made Easy
Real-World Financial Insights
When considering equipment financing, it is essential to understand the associated costs and potential savings. Interest rates for equipment loans typically range from 5% to 15%, depending on the borrower's creditworthiness and the lender's terms3. Leasing options may include additional fees, but they often offer flexibility in terms of upgrading equipment at the end of the lease term.
Moreover, many financial institutions offer special promotions or deals for new clients, such as deferred payment options or reduced interest rates for the first year. It's prudent to visit websites of various lenders to explore these options and find the best fit for your business needs.