Financing Your Garage Equipment
Updated: Feb 12
In IRELAND, health and safety laws and carbon emission targets have conspired to make life that little bit more awkward for garage operators, vehicle repair and NCT test centres.
Garages are constantly required to comply with new legislation and regulations on waste disposal, emissions and safety, many of which require the installation of new or updated equipment. Purchasing such equipment can prove inordinately expensive, which is why many garage operators are advised to lease items instead of buying them.
Garage equipment leasing provides a convenient and cost-effective solution to the problem of renewing or replacing tools and machinery. There is little commercial sense in purchasing large and expensive equipment when the same items can be leased at a reasonable rate over a fixed period of time.
Understand that financing pays for itself. Your profits come from the use of the equipment, not the ownership of it.
When you finance a computer, it earns its worth because you pay for it as you use it. Would you pay your office staff their salaries for three years in advance? By financing your computers with monthly payments, you don’t have to pay for the whole thing upfront. You can keep that cash free to invest in appreciating profit-making assets. Your new equipment makes money while your liquid capital is retained. That’s effective cost management.
With Loanguru you can apply easily and quickly online. Simply fill out the online application, our AI technology will scan your data and compare it with our many lending partners to see which one you can qualify with.
You could receive equipment loan offers the very same day, and if you qualify for a few lenders, you will be shown the different options, so that you can choose the one you’re happy with.
If you have any questions or queries, follow this link below.