Go to Top
Automotive Equipment Financing
The automotive repair industry is extremely competitive, and at the same time is becoming more and more reliant on technology. Today’s mechanics rely on a bevy of sophisticated (and rather expensive) automotive diagnostic equipment. Alignment machines, computer diagnostic stations, and emissions testing devices are all common in today’s repair facilities. And since this equipment carries such a high price tag, almost all repair facilities seek to finance their automotive diagnostic equipment.
There is an advantage to not only financing automotive repair and diagnostic equipment, but to do so with the best terms. Adding new diagnostic equipment opens up new profit centers for a repair shop. Better finance terms on automotive diagnostic and repair equipment means more profit.
Atlas Financial has been handling automotive diagnostic and repair equipment financing for close to two decades, and we are familiar with the needs of the auto repair industry. We offer financing for all manner of automotive equipment: regardless of what it is, we can finance it – quickly and easily.
Advantages of Financing
- 100% Financing: Financing business equipment often covers 100% of the equipment cost with room to bundle soft costs including training, software and installation. 100% financing conserves working capital.
- Tax Savings: Tax advantages often make financing less expensive than an outright purchase.
- Cash Flow: Customize a solution to fit your particular situation and pay for the equipment as you use it.
- Use Inflation to Your Advantage: If you pay cash for equipment, you pay with today’s dollars at today’s value. When financing, you pay with next year’s inflated dollars, and the next, and the next.
- Preserve Bank Credit Lines: Leasing doesn’t affect your bank borrowing limits. You still have 100% of your credit available.
- Accounting Benefits: Monthly payments may be deductible as operating expenses rather than accounting for the equipment as an asset.
Disadvantages of Cash
You select the equipment - we provide the financing. We offer sound guidance, flexible structuring and competitive financing.
- Diminished Reserves: Cash payment has an immediate impact on cash flow by diminishing cash reserves.
- Impact on Credit: Depletion of liquid assets may affect your credit worthiness.
- Impact of Soft Costs: Paying cash for soft costs such as installation, delivery and maintenance erodes available cash.
- Return on Time: Cash should be used for income producing investments since you pay with today's dollars at today's value.