By William Sutton
President and CEO
Equipment Leasing and Finance Association
This Opinion piece appears in the Jan. 7 print edition of Transport Topics. Click here to subscribe today.
Given today’s growing equipment demand and ongoing economic uncertainty, many businesses are finding noncash equipment financing to be a key acquisition strategy. The current market shows equipment financing — whether by lease, loan or line of credit — to be as vital and available as ever, enabling businesses to secure the assets they need while achieving their operational and financial objectives.
If you’ve made the decision to go the noncash route, the next consideration is timing, particularly now that the old year is winding down and the new year is upon us. Indeed, end-of-the-year incentives typically offered to trucking businesses by lenders and captive vendors put so much emphasis on leasing for noncash acquisitions at this time of year that it automatically feels like the right thing to do.