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If you've been putting off an equipment purchase because the new price tag makes you wince, you're not alone. Most business owners assume new is safer, and in some cases it is. But a lot of the time, a well-chosen used machine can do the job just as well while costing considerably less, and that difference goes straight back into your business.

Getting turned down for equipment financing stings, especially when you know your business can handle the monthly payments on the machine, truck, or trailer you need. Maybe you have contracts lined up, or cash flow was tight for a couple of months during a slow season. Either way, a bank decline can feel like a dead end, but it usually isn’t. It's simply one lender, using one rigid formula, giving you their answer today.

You found the machine. A skid steer, a CNC mill, a delivery truck, maybe the imaging equipment your clinic has needed for two years. The invoice reads $100,000, and now you're looking at three doors: pay cash, take out a loan, or sign a lease. Most people assume buying is the smart move once money isn't the issue. But a lot of thriving companies do the opposite. Whether it's an excavator or a fleet of service vehicles, many choose to lease on purpose, even with plenty of cash

Say your business has enough cash to buy a new piece of equipment today. Would you still lease it? Most people assume buying is the smart move once money isn't the issue. But a lot of thriving companies do the opposite. Whether it's an excavator or a fleet of service vehicles, many choose to lease on purpose, even with plenty of cash in the bank.

You find the truck, trailer, or piece of equipment your business needs. The price works, the asset fits the job, and you could put it to work fairly quickly. Then comes the other decision: how are you actually going to pay for it?