Securing an equipment lease agreement for your construction company makes good business sense. Skid steer loaders, loaders, backhoes, and excavators all get significant wear and tear, so investing in an outright purchase can be an expensive gamble. There are three main types of providers you can turn to for an equipment lease agreement: brokers, captive leasing companies, or independent lessors.

• Captive leasing company - Manufacturers of construction equipment often offer lease agreements through subsidiary leasing companies.
• Broker - Equipment leasing brokers take your lease requests to the banks and financial services companies most likely to agree to finance your construction equipment.
• Independent lessor - Banks, equipment lease agreement specialists, and more diversified financial companies lease directly to businesses.

Often, the type of equipment lease agreement provider you should turn to for your construction equipment will depend on your situation. A manufacturer’s captive leasing company is worth investigating if you’ve already decided exactly what equipment you’re going to buy – because dealers are very familiar with their procedures, they can also help you get approved. They also are familiar with the value and returns on construction equipment.

If you have a financial services provider that knows you and is familiar with your business, you may want to start with them. If you’re not familiar with equipment lease agreements or with the product you need to lease, brokers are the best at providing multiple options and helping you get the lease you need.

Choosing the right equipment lease agreement provider
It’s important that you evaluate prospective lessors just as carefully as they’re evaluating you. Look for an equipment lease agreement provider with the right experience. Some lessors specialize in construction equipment, while others may not be familiar with it at all.

Also, look for a lease agreement specialist who will act like a partner instead of treating you like a faceless account.

BuyerZone can help make your search for equipment lease agreements easier. Simply submit a free request for construction equipment leasing quotes, and you’ll get matched to multiple providers who can help you secure the right lease agreement terms.