Heavy Equipment Financing Secrets Every Contractor Must Know
Benefits of Financing Heavy Equipment
Financing heavy equipment offers several advantages. Firstly, it preserves your working capital, allowing you to invest in other areas of your business. Secondly, it provides tax benefits, as lease payments can often be deducted as business expenses1. Furthermore, financing can help you manage cash flow more effectively by spreading the cost over time rather than paying a lump sum upfront. This can be particularly advantageous for small to medium-sized contractors who need to maintain liquidity.