Used Equipment Can Offer Good Value for Money
Leasing older used models can be one of the most affordable ways to get the heavy equipment your business needs. Find out how to make used equipment leasing work for you!
Why You Should Lease Older Equipment
Lower Cost
Old models might have fewer features and more wear than newer ones, but they can also be dependable and familiar. And they cost less. So if an older model is the right tool for the job, why pay more for features you don’t need?
Less Depreciation
New models lose their value really fast. But with old equipment, if you take good care of it, there is much less depreciation to its resale value.
When you lease-to-own, it’s up to you whether you keep or sell your equipment at the end of your lease. Either way it will retain much of the money you’ve put into it.
Solve Supply Chain Problems
Supply chain issues make it hard for dealers to keep new models in stock – which means you might be waiting months, or years, for your equipment to become available. If you find a good deal on used equipment from a private seller across the country, you can even get financing for the shipping costs as part of your lease deal.
How to Lease Older Equipment
Find the Equipment You Want
The first step is to find the equipment you want for your business. You have tons of options because you can get lease financing for private sales. That means you can finance used equipment you find on Kijiji, Craigslist, Equipment Trader, and Facebook Marketplace.
Check Equipment Condition
Do your homework before you make a deal to lease used equipment. You’ll want to be sure that the equipment is in good condition.
You should also make sure the seller has the right to sell the equipment and there aren’t any liens on it. Learn more about how these simple steps could save you thousands of dollars in our guide to buying used equipment.
Choose the Right Leasing Company
Leasing older equipment can be tough unless you find the right financing. Most lease deals use the leased equipment as collateral. This is great because you don’t need to find other assets just to get a lease.
The trick is that some companies might not consider older used equipment valuable enough to be collateral. So don’t miss out on a classic – choose a company that specializes in financing older used equipment.
Finance Older Equipment with Thomcat Leasing
At Thomcat Leasing, we love used equipment – and you can often get older equipment approved through us! We’ve been in business since 1989 and we’re happy to finance leases for models that are older than we are. You find it, we finance it!
If you’re thinking about leasing used equipment, just fill in our quick estimate form. We’ll give you a ballpark figure for your lease payments in just 60 seconds.
Business Leasing Guide
Check out our leasing guide for more advice about how to get the best deal on the right equipment for your business!
