Earthmoving Equipment Finance

Earthmoving Equipment Finance Solutions For Your Business

Pacific Finance has secure loans for all kinds of earthmoving equipment including excavators, bobcats, bulldozers, dump trucks and backhoe loaders.

While the most common way to finance earthmoving equipment is with an asset lease, Pacific Finance also offers commercial hire purchase and chattel mortgage options for you to choose from. All of our earthmoving equipment finance solutions provide companies with fast approval and flexible rates, to help you get that necessary equipment sooner.

Asset Lease

With an asset lease agreement, you lease the equipment from the lender and pay a fixed amount each month for its use. At the conclusion of the contract, you can take ownership of the equipment by paying off the residual on the lease, refinance and extend the lease term, or sell the equipment. A major advantage to the asset lease method is that it does not appear on your accounting books as an asset, potentially saving you some extra cash in tax.

Commercial Hire purchase

The lender buys the earthmoving equipment, then hires it back to you for an agreed length of time. At the end of the contract, you have the option of taking ownership of the earthmoving machinery if you have paid it off as well as the incurred interest.

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Chattel Mortgage

The lender will give you the entire amount for the equipment, allowing you to purchase it outright. However, you will have to pay the loan back in installments, much like a housing mortgage. The purchased piece of machinery is security on the loan. Once the loan has been paid off, you retain ownership of the equipment.

Choosing the right earthmoving equipment loan depends on your individual circumstances. You need to consider your future strategy, how long you would like the term of the loan for, the purpose of the equipment, whether you have a cash deposit and if you would like to own the equipment at the end of the lease term. At Pacific Finance, we can help you answer these questions. Feel free to give us a call today to discuss your options, or fill out a form to have a friendly consultant call you back.

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