We are pleased to offer financing thru New Lane Finance. Check out their site at https://newlanefinance.com We partnered with New Lane Finance due to their commitment to customer service and fast turn around time. We also do NOT receive any kickback from them. The transaction is solely between the Customer and New Lane. We leverage New Lane to help us sell more equipment.
Typically, they do same day/next day decision funding so its pretty fast. Their process for most of their loans, is a lease based structure. At the end of the lease you can buy out the equipment for $1.
What to know about $1 buyout leases:
$1 buyout leases are used for equipment that retains its value over time, including construction equipment, automotive repair, material handling, tooling, cleaning equipment, and pressure washers.
$1 buyout leases have a pre-set lease term with fixed monthly payments.
Equipment ownership is often transferred to the lessee, so the equipment appears on the balance sheet as company assets.
For tax purposes, there are advantages to leasing equipment with a $1 buyout lease in lieu of purchasing it. This can be beneficial: If you lease a $10,000 skid steer on a $1 buyout basis, the equipment will appear as an asset on your business’ balance sheet, and the lease will appear as a corresponding liability. For tax purposes, using Section 179, it is possible to deduct the entire $10,000 as a business expense in the first year of purchase vs the other type of buyout, called a Fair Market Value (FMV).
At the end of the lease term, the lessee purchases the equipment for $1.
To start the financing process with New Lane, click here to apply. to reach our assigned Business Development Manager, contact Greg Marullo at 267-768-3349 or email at gmarullo@newlanefinance.com.
Click here to read up on New Lane Finance: https://newlanefinance.com/company/.