As construction companies continue to grow, so does the need for powerful equipment. A cold planer is one such machine that can be a game-changer for any growing business. This article will discuss seven reasons why a construction company should consider financing the purchase of a cold planer.
What is a Cold Planer?
A cold planer is a powerful machine used for milling and removing pavement. It can be used to remove asphalt, concrete, and various other surfaces from roads, highways, parking lots, and more.
An essential equipment for creating smooth surfaces before resurfacing, cold planers are capable of removing any material that’s up to 10 inches in depth, making them perfect for projects with deep erosion or large surface areas. These machines are also designed with a variety of attachments and tools to help facilitate different types of milling and planing work.
Industries that use a cold planer typically include construction companies, landscape maintenance services, road repair crews, and asphalt contractors. Because of the volume of work that this machine can perform, pricing can be steep.
Cold planers for sale typically cost anywhere from $100,000 to over $500,000. For a construction business that is continuing to grow, this cost can be hard to manage. This is where heavy equipment financing comes into play.
7 Reasons to Finance a Cold Planer
There are many benefits to financing the purchase of a cold planer, including:
Financing makes purchasing a cold planer much more affordable. Instead of draining all your working capital on one major machine item, you can make smaller monthly payments and still get the equipment you need.
2. Tax Savings
Financing a cold planer allows you to take advantage of tax savings since the interest is usually tax-deductible. This means you can save money in the long run and keep more money in your pocket.
3. Access to New Projects
With a cold planer, you will be able to bid on bigger projects that other companies may not be able to do without this type of machinery. This gives you an opportunity to expand your business and increase profits by taking on larger jobs that would have otherwise been inaccessible due to a lack of resources.
4. Increased Efficiency
Using a cold planer can enhance job completion speed and require lesser resources, thereby resulting in improved efficiency and increased profits in the long term.
5. Updated Technology
Cold planers are constantly being updated with new technology, which means you will be able to take advantage of the latest features for your projects. This allows you to stay competitive in a crowded marketplace and up-to-date on industry trends.
6. Access to Financing Expertise
Working with an experienced financial broker such as Charter Capital gives you access to our expertise when it comes to financing options for a cold planer purchase. We understand what it takes to get the best rates and terms available, so we can help you make smart decisions for your business.
7. New Infrastructure Projects
With new infrastructure projects predicted in the coming years, there is a greater need for cold planers than ever before. Financing a cold planer now will give you access to these lucrative projects once they become available.
Overall, cold planer financing can help construction companies manage costs and make the most of new opportunities. This is why it’s important to work with a trusted financial services provider to ensure that you are getting the best deals available.
Time to Consider Financing Your Cold Planer Purchase
If your construction company needs a powerful machine to complete jobs efficiently and expand into larger projects, then now is the time to consider financing the purchase of a cold planer.
Working with an experienced financial broker such as Charter Capital can make it easy to secure competitive rates and terms so you can get the equipment you need without straining your bottom line.
We have been helping businesses of all sizes obtain financing for major purchases for over 40 years. We want to help you too. Contact us today to learn more about how we can help you get the equipment your business needs.