Tag: Automotive

Posts with ties to the automotive industry and equipment leasing and financing

What kind of equipment should a mechanic lease?

A mechanic may choose to lease a variety of equipment depending on the type of repairs and services they offer. Some common types of equipment that a mechanic may choose to lease include:

Automotive lifts: These include two-post lifts, four-post lifts, and scissor lifts, which are used to raise vehicles for repairs and maintenance.

Air compressors: These are used to power a variety of tools, including impact wrenches, ratchets, and sanders.

Diagnostic equipment: This includes scan tools and code readers, which are used to diagnose and troubleshoot vehicle problems.

Tool storage and organization: This includes tool boxes, tool carts, and storage racks, which are used to keep tools organized and easily accessible.

Specialty tools: This includes specialized tools such as brake lathes, alignment equipment, and engine rebuilding equipment, which are used for specific repairs and services.

It’s worth noting that leasing equipment can be a good option for mechanics that needs the equipment for a short term or for a specific task and might not want to invest in buying the equipment. It’s always recommended to consult with a professional before making a decision.

Because I specialize in equipment and software financing between $1k – $1mil, it’s important that I move rapidly. And with the help of my team, I’m able to move deals from application to funding within hours.
And not just for well-established companies, I close quickly on start-ups and sole props as well.
I work hard every day, rarely take a day off, and ALWAYS return calls. And with my decade-plus of experience in finance, I know how to work a deal. Call me and find out for yourself.

7 things to consider before leasing a new automotive lift

  1. Determine your lifting needs: Consider the types of vehicles you will be lifting and the weight capacity you will need.
  2. Choose the right type of lift: Decide between a two-post lift, four-post lift, scissor lift, or in-ground lift.
  3. Consider safety features: Look for safety features such as automatic arm restraints, locking mechanisms, and overload protection.
  4. Check for certifications: Look for certifications such as ALI or ETL certification, which indicate that the lift has been tested and meets industry standards.
  5. Read reviews: Research different brands and models, and read reviews from other customers to get an idea of the lift’s reliability and performance.
  6. Consider the warranty and customer service: Make sure the lift comes with a warranty and that the manufacturer has a good reputation for customer service.
  7. Check the shipping and installation cost: Make sure you factor in the cost of shipping and installation when making your decision.

Because I specialize in equipment and software financing between $1k – $1mil, it’s important that I move rapidly. And with the help of my team, I’m able to move deals from application to funding within hours.

And not just for well-established companies, I close quickly on start-ups and sole props as well.

I work hard every day, rarely take a day off, and ALWAYS return calls. And with my decade-plus of experience in finance, I know how to work a deal. Call me and find out for yourself.

Should mechanics continue to lease equipment?

Mechanics, like other businesses, may choose to lease equipment for a variety of reasons, including:

  1. Preservation of capital: Leasing equipment allows mechanics to acquire the equipment they need without having to make a large upfront investment, which can preserve their capital for other important expenses.
  2. Tax benefits: Lease payments made by a mechanic can generally be written off as a business expense, which can help to reduce the overall tax burden of the business.
  3. Flexibility: Mechanics may choose to lease equipment because it allows them to upgrade or replace equipment more frequently. This can be especially important in the automotive industry, where new technology is constantly emerging and older equipment may become obsolete.
  4. Cost-effective: Leasing equipment can be more cost-effective than purchasing equipment outright, especially for mechanics who only need the equipment for a short period of time.
  5. Maintenance and repair: Many leasing companies offer maintenance and repair services as part of the lease agreement. This can be beneficial for mechanics, as they don’t have to worry about the added cost and time of maintaining and repairing the equipment themselves.
  6. Predictable costs: Leasing equipment can make budgeting easier, as the payments are fixed, making it easier to plan for future expenses.

In summary, mechanics may choose to lease equipment for various reasons such as preservation of capital, tax benefits, flexibility, cost-effectiveness, maintenance and repair services and predictable costs. This can be especially beneficial for mechanics in the automotive industry, where new technology is constantly emerging and older equipment may become obsolete.

Because I specialize in equipment and software financing between $1k – $1mil, it’s important that I move rapidly. And with the help of my team, I’m able to move deals from application to funding within hours.

And not just for well-established companies, I close quickly on start-ups and sole props as well.

I work hard every day, rarely take a day off, and ALWAYS return calls. And with my decade-plus of experience in finance, I know how to work a deal. Call me and find out for yourself.