How Equipment Financing Works

Most shops don't pay cash for a lift, an aligner and a tire machine all at once. Equipment financing lets you get the tools working now and pay for them over time, often out of the revenue they bring in. Here's how it works at Truman.

Why shops finance equipment

• Keep your cash working. Hold on to working capital for payroll, parts and inventory.
• Start earning sooner. New equipment can start bringing in revenue before it's paid off.
• Buy the whole package. Outfit a complete bay instead of buying one machine at a time.
• Possible tax benefits. Equipment purchases may qualify for Section 179. Ask your tax advisor.

What you can finance

Just about everything we sell: lifts, tire changers, wheel balancers, alignment equipment, bridge jacks, air compressors, shop equipment, and complete packages that combine them, all on one plan with one payment.

The terms

• 24 to 72 month terms to fit your monthly budget
• Low down payment options for qualified buyers
• Deferred payment options, so new equipment can start earning before your first payments are due
• Best rates on purchases of $5,000 and up, and rates generally improve as the purchase gets larger

That last point is worth knowing. Because larger purchases often get better rates, many shops find it makes more sense to finance a full package than a single machine.

How it works, step by step

• Tell Rick what you need. Rick, our financing specialist, has more than 30 years in equipment financing. Fill out the short Get started with Rick form or give him a call, and he'll help you plan the right package.
• Apply. Rick walks you through the secure application with our lending partner. Many applications get a credit decision in about 10 to 15 minutes during business hours.
• Pick your terms. Rick will lay out your options, including any upfront payment and fees, so you can choose the payment that fits your shop.
• Get your equipment. Pick up in Daleville, Indiana, or have it shipped anywhere in the country.

Buying for a home garage?

For smaller orders, you can choose Shop Pay at checkout to split your purchase into payments. It's a quick option for a single lift or machine.

Does financing really pay off?

Often, yes. If the equipment brings in more each month than the payment, it's paying for itself from the start. For a real example, see Is an Alignment Machine Worth It? The Payback Math.

Our take

If you're outfitting a bay or adding a revenue stream like alignments, financing is usually the smartest way to do it. Talk to Rick before you decide what to buy. He knows our equipment and can help you build a package and a payment that make sense for your shop.

Talk to Rick