Entering the World of Equipment Financing

We’ve all heard the saying that “a smart consumer is a knowledgeable consumer” and this adage certainly applies to the world of equipment financing. There are many equipment financing companies in existence – some well-established, some just starting out, some specializing in heavy equipment, some specializing in other industries, and some more reputable than others. It’s a confusing endeavor!
Therefore, the best strategy for making wise choices is to be informed. Here are some tips to help you navigate the world of equipment financing and protect your interests:

  1. The Best Rate is Not Always the Best Option.

    Of course, you want the lowest rate possible, but there are other factors to consider as well. It’s important to search for a company that provides
    good rates but also one that helps you identify the best finance program for your business. You also want a company that quickly responds to any questions or issues that arise during the process.

  2. Is the Financing Company a Compatible Fit for Your Business?

    It is extremely beneficial to find a company that is knowledgeable in your line of business. If you are a construction company needing heavy equipment, a financing company that specializes in factory equipment may not be an ideal match. For optimal results, it’s advisable to use a company that knows the intricacies of your business.

  3. Do Your Research.

    Before selecting a financing company, it’s crucial to learn as much as possible about the companies you are considering. In this challenging economy, you want to get the best
    return on investment possible and researching potential companies is the best way to achieve this. For example, ask the company for a list of references and call the references for their feedback. Was the company responsive to customer questions or needs? Were there any problems during the
    leasing process and, if so, how were they resolved? Are there any red flags that might warrant considering another company?

This is the first entry of the blog for National Advance Group, a privately-owned company that specializes in heavy equipment leasing. We hope that you’ve found the information to be valuable and we invite you to regularly visit our blog for future entries. National Advance Group offers low rates and very specialized service. Please feel free to give us your feedback and to contact us for your heavy equipment leasing needs!

Tel: 516-482- 3210
Fax: 516-482- 3221