Vocational Trucks: Three new stats about old thinking…

In a recent survey of 3685 small business owners that have made a vocational truck purchase in the last 12 months…

78% replace trucks only when reliable operation is a factor

Waiting until the wheels fall off is a very expensive approach to replacing your vocational vehicles. There is no bigger cost to your business than the service interruption to your customer. Even if you can avoid the pain of customer complaints following vehicle failure, it often involves very high rental expenses and the operational challenges of using a generic truck not designed for your business.

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Commercial Trailer Financing and Leasing

We LOVE trailers!

It’s that simple! We… Love… Trailers. When you’ve been financing trailers for over 30 years and you still get excited to help a company finance a trailer, you just know it’s a good fit. SLS has been financing commercial use trailers for over 3 decades now and we still see the value in making sure we keep these programs accessible to the masses.

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Today, we’re continuing our series of podcast shorts with our seventh episode, looking at the shocking correlation between equipment and employee turnover in small businesses.

(You can find our first episode on the credit evaluation process here, and the second episode on the benefits of pre-qualification here)

Throughout this series, we’ll be covering bite-sized topics that will help you better understand our values and our processes, as well as tips that will help you make better decisions during your periods of growth, or equipment acquisitions. If you have any topics you would like us to cover in the future, don’t hesitate to reach out. My contact information can be found at the bottom of this post.

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First of all, let’s look at…

What are Soft Costs?

Many times on this blog, we discuss the main costs of acquiring equipment, which almost always ends up being the cost of the equipment itself. Pretty straight forward, huh? That doesn’t mean that’s all there is to equipment lending. Often times there are other costs involved, which we like to call “soft costs”. So, what are soft costs exactly? Soft costs can be a range of things, from the cost of delivery, to installation costs, warranties, and even assembly in some cases. You may be asking, “well, why does that matter to me?” These soft costs can affect your business in a big way.

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Concrete Saw Financing and Leasing

We have enjoyed great relationships with concrete construction professionals over our 30+ years in business, and we know what a great asset concrete saws can be. We know that certain models can carry quite a cost, and if you’re getting multiple saws, the cost can add up quickly. Financing and leasing may be good options for your business so you don’t break the bank as you acquire the equipment you need. So, where do you go for help? Well, whether you’re a start-up business, or an established company, you’ve come to the right place.

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Today, we’re continuing our series of podcast shorts with our sixth episode, looking at how a financing relationship should feel.

(You can find our first episode on the credit evaluation process here, and the second episode on the benefits of pre-qualification here)

Throughout this series, we’ll be covering bite-sized topics that will help you better understand our values and our processes, as well as tips that will help you make better decisions during your periods of growth, or equipment acquisitions. If you have any topics you would like us to cover in the future, don’t hesitate to reach out. My contact information can be found at the bottom of this post.

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You may be exploring your options on procuring a bucket truck. That’s an exciting prospect! You must be growing to be looking into acquiring another bucket truck for your business. Or, maybe this is the first one for your new start-up. Congratulations on this big step in your entrepreneurial journey! In either case, you’re in the right place. We know that business vehicles can be expensive, and it may not be wise to purchase them outright. In that case bucket truck financing and leasing may be the right choice. Your cash flow will thank you. Let’s look at a few questions you may have.

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The Truth about Early Pay-offs from Equipment Leasing Companies and other most Equipment Financing Commercial Lenders.

First and foremost, most equipment leasing documentation and equipment financing agreements do not provide for a simple interest pay-off. In fact, many organizations will simply require that all payments be made and do not provide early termination (pay-off of the contract) language. Please note that this is not always the case.

Let’s get started by defining a few terms:

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When the need is apparent, but the prospects are slow to respond, and decision-making processes seem to go on forever, it might take some cold hard facts to awaken the sleepy opportunity. In a recent survey of 1767 companies that have recently acquired new commercial equipment, the top reasons decision-making processes lasted longer than 3 months were:

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Crane trucks have many uses, from construction, to electric utility, to tree service, and more. We know that many industries have uses for this valuable asset, because we’ve worked with folks in these various industries! We also know that crane trucks can cost a pretty penny in certain cases. It may not be prudent to purchase a crane truck outright, even though it may be necessary to acquire one due to demand. Sounds like a good sign to us. “So, what are my options?” – you might be asking. Financing and Leasing for Crane Trucks can be great options to get the equipment you need.

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