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At IWS Sales we want to make your buying experience as enjoyable as possible. With over 25 Years in the industry we have been able to put together a group of lenders to offer you a simple and competitive financing solution. We have a secure one-page credit application that you can fill out online or email back to us. Since not all banks and credit unions are familiar with towing equipment, financing can be difficult and lengthy. Our group of lenders finance businesses like yours every day and take the hassle out of your buying experience.
There are many variables that the lenders take into consideration when coming up with rates and terms of financing towing equipment. So, it is very difficult to offer a one size fits all financing package, but you can count on IWS to go to work for you and find the financing to fit your needs.
We know most of you are business people with very little time on your hands. Let us take some of the load off, and put the fun back into purchasing a new asset. Average approval time is under 24 hours for credit applications. To get started, simply click on one of the icons above and we’ll help do the rest!
You’ve selected the equipment you want for your business. That part was easy. Now comes the big question, “How do you pay for it?” You have several options, each with it’s own advantages. Let’s evaluate them.
Cash – If your business can afford it, you might decide to purchase the equipment outright. That’s fine but it may deplete the financial resources that you could invest back into your business in more productive ways.
Bank loan – Again a reasonable decision, but not always a practical one. Although it preserves capital, a bank loan may affect your available credit, and it will probably dip into your cash reserve. Most banks do not offer 100% financing.
Leasing – This may be the best alternative, because it offers the following advantages:
• Leasing may lower the total cost of the equipment. Tax advantages often make leasing less expensive than an outright purchase or bank financing.
• Leasing improves cash flow. Leasing allows you to pay for equipment as you use it to generate income for your business.
• Leasing preserves available credit lines. You get the equipment you need now, without tying up valuable credit lines. Your borrowing capacity is available for operating needs.
• Leasing provides fixed payments. Your monthly lease payments don’t change, variable bank loans frequently do.
• Leasing avoids restrictive covenants. Leasing usually does not impact balance sheet ratios or other restrictions in loan covenants.
• Leasing offers 100% financing. Most bank loans require a substantial deposit or down payment.
• Leasing provides a better hedge against inflation. Although you acquire the equipment at today’s dollar value, you pay for it over a term of the lease in dollars that are devalued if inflation occurs.
• Leasing conserves capital. Most businesses prefer to use their valuable capital as an investment in other aspects of their operation
Down Payment – Purchasing equipment often requires a down payment of 10% to 20%, but IWS Financial Services typically finances 100% of the equipment cost. Additionally, incidental costs associated with purchasing equipment such as sales tax, installation, training and software can be included as part of the lease payment rather than being paid in advance with the down payment. Not tying up your cash in large down payments and incidental costs, allows you to use it for more profitable purposes.
Fixed Payments – The fixed contractual nature of a lease eliminates any uncertainties regarding future cost of the equipment. This enables you to prepare more accurate cash forecasts and plans.
Predetermined Purchase Options – a lease can give the lessee the option to acquire the equipment for a predetermined amount. This is particularly beneficial to the lessee when leasing equipment such as construction, commercial vehicles and various types of manufacturing equipment.
Leasing offers many convenient benefits not available through conventional forms of financing. Acquiring the use of a lease involves much less time and paperwork than purchasing the assets.
Most loans contain loan covenants (current ratio and debt to equity ratio limits, a minimum times-interest-earned ratio level and certain other minimum measurements of profitability) which are often confusing to compute and time consuming to track. A lease does not contain these covenants providing you with the ability to make unrestricted financial decisions and can also help avoid IRB limitations.
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