If you run a construction company and you’ve been debating about whether or not to update your heavy equipment, we’ve put together this blog to help show you how it can be beneficial to do so as soon as possible. At Fleet Lending Solutions, we can help your company finance the purchase of new heavy equipment or other commercial vehicles. We believe in helping small business owners because that’s what we are. Our experience working with the transportation and construction industries means that we understand your needs in a way that you can’t find with traditional lending institutions.
Replacing Old Equipment Increases Efficiency
No matter what you do, old equipment can slow you down. If your equipment requires a lot of downtime for repairs, you’re losing money. If your old equipment moves much slower than the newest version of a machine, you’re losing money. If your equipment is slowing down the progress of other people on a jobsite, you can bet good money on the fact that everyone involved with the project will notice and will think twice about bringing you in on future jobs because you’re costing everyone money.
While you think you might not be able to afford a piece of new construction equipment, think about how much money your old equipment is costing you in repair bills and lost time. While it might not seem like much if you look at it day by day, when you add up all of those days, the lost revenue can be devastating. Financing a new piece of equipment might not seem viable but when you factor in how much extra money can be made when you increase your efficiency and reduce your downtime, the financing charges can become a drop in the bucket.
New Equipment Means You Can Take More Jobs
If you finance a new piece of machinery through Fleet Lending Solutions, you can put it to work in several ways. First, it could be a replacement for an older version that will speed up the process and allow you to finish jobs more quickly. Finishing a job more quickly means you can move on to the next one faster than you would have been able to before. This process will continue on and on and you’ll find yourself making more money. Second, you could use the new equipment as the basis to start working more than one job at a time, essentially doubling the amount of money you can take in at once.
Focus on the Return on Investment
As we mentioned before, increasing efficiency means that you can earn more money with your new piece of equipment. This is where we can help you do the math to find out how much a new vehicle or machine can help you. By looking at the amount of time you spend on a job now with the old equipment and looking at the speed that the new machine works at, we are able to show how much extra money will be made with the new item.
When you are choosing a financing company to work with, consider their values and their areas of experience. At Fleet Lending Solutions, we specialize in providing financing to companies who need commercial vehicles and construction equipment. We understand these businesses and the very specialized demands of running a modern construction, trucking, and energy production company. Unlike many other financial institutions, we are able to work out terms that are beneficial to both sides. Contact us today to find out how we can finance your newest construction equipment purchases. Take the first step towards helping your business now!