CNC machines are a huge investment. That’s why used CNC finance can be a great option for someone who is considering adding a new machine to their shop inventory, or in the process of growing their shop. Still unsure about whether used CNC financing and leasing are right for you? Here are some of the benefits of used CNC finance with Premier Equipment and frequently asked questions about used CNC finance and leasing.
BENEFITS OF USED CNC FINANCE & LEASING
Your business needs room to grow, and shelling out a ton of cash on a new machine may not be in the cards. With used CNC financing, you have more wiggle room to upgrade to a newer and higher-quality machine. With Premier Equipment, you can receive approvals up to 100% of the used CNC’s fair market value.
An outdated or dysfunctional piece of CNC equipment can completely halt production. By upgrading to a newer and higher-quality machine, you can prioritize the efficiency of your shop’s production. You can also invest in a higher number of machines with less cash out of pocket, maximizing your production.
Owning a business comes with many costs, and if you tie up all that cash in new machining equipment, there’s a lot less room for error. Need to hire additional workers, pay a utility bill or invest in another area of your business? With more cash in your pocket, you have the freedom to make smarter business decisions.
When financing and leasing a used CNC machine, you can get a flexible repayment term of 1-6 years, depending on the manufacture date. You can have a personalized, flexible payment plan structured to your needs. If you want to pay off your loan early, there will be no penalties!
Leasing a used CNC machine has much less risk than outright owning the equipment. You can feel less stressed and focus on your company’s needs and production instead.
USED CNC FINANCE & LEASING FAQs
What information do I need to submit for used CNC equipment leasing?
Our one-page loan application has some key pieces of information needed to move onto the approval status, including customer information, which equipment you’re interested in and credit references.
What types of used CNC machines can I lease?
With Premier Equipment, you can lease all types of used CNC machines, including (but not limited to): lathes, verticals, horizontals, boring mills, barfeeds, chucks, toolings, EDMs, routers, lasers, waterjets, press brakes, shears, CMMs and more!
Is there a penalty for early payment?
No! With Premier Equipment, there are no early-payment penalties if you would like to pay off your loan sooner.
Can I take advantage of tax benefits and deduct payments?
Yes! You can deduct up to $1 million of used CNC-machinery purchases put into service on or before December 31, 2019. This deduction is phased out dollar for dollar above the $2.5 million equipment-purchased threshold. 100% bonus depreciation is allowed on qualified used CNC equipment put into service on or before December 31, 2019.
Can an individual lease a used CNC machine?
Yes! You don’t have to lease a used CNC machine as a business. If you’re an individual looking to lease a used CNC machine, you can get started by filling out our one-page credit application.
How long does it take to get approved for CNC leasing?
After applying for a used CNC loan, you can receive funding within 48 hours of signing the contract. Our simple one-page credit application is easy to complete and saves you time instead of filling out pages and pages of documents.
How do I get started?
Whether you’re an individual or a business, if you’re ready to talk numbers, a representative from Premier Equipment is available to answer any questions you may have. Contact us to get started today!