Financing Pressure Washers

Every industry uses equipment to fulfill requirements within that industry – whether it be an oven for a restaurant, a dozer for construction or for the purpose of this article, an industrial-grade pressure washer for a farm, oil field, food processing plant or any industry. Some power washers can require a significant cash outflow, and that’s not something a lot of businesses can afford. So, financing can be a great alternative to using cash to buy a pressure washer outright.

Financing programs include a specific, agreed upon time, and during this time, the borrower pays the dealer monthly payments with the intention of buying the equipment. Once the loan is paid in full, and this includes interest, the borrower owns the equipment and can resale the pressure washer if need be.

One of the biggest advantages of financing an industrial-grade pressure washer is it allows a borrower to start using, making money, with a new industrial-grade power washer before it’s paid off. Most financing programs are also typically structured to include maintenance, parts and accessories at no additional cost to the borrower.* This is important because, pressure washers, like cars, do require regular maintenance, and an authorized pressure washer dealer will back manufacturer warranties, use factory parts by factory trained and certified technicians. They will also evaluate your equipment for any potential issues and fix them before they become issues, as well as, ensure your equipment is running to the manufacturer’s specs.

Some other advantages to financing an industrial-gradepressure washer allow a borrower to conserve cash for working capital and other unexpected cash outlays, help the borrower to build their credit, and is 100% tax deductible - if the equipment qualifies for the Section 179 tax deduction.**

So, how do you get started on a finance program?

Your authorized dealer can assist you with that. Most authorized dealers have partnered with trusted financial institutions who want to help you with owning your own industrial-grade pressure washer. Just so you know, when starting a finance program, the lender at the financial institution will evaluate your business’s annual revenue, age of business and your personal credit worthiness. It is not uncommon for a financial institution to require a credit approval and the business being under current ownership for at least 3 years, but again, it varies, and your dealer can help you through the process. In the end it really comes down to considering and determining what best aligns with your business goals and objectives.

*Unless due to mistreatment or abuse.
** Cost of equipment purchases can be written off during this year's (2020) taxes (up to $1,040,000 for businesses that spend less than $2,590,000 on total equipment purchases.


 

 

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