Used Equipment Financing: Higher Rates and Shorter Terms
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Used Equipment Financing: Higher Rates and Shorter Terms
Businesses seeking to acquire used equipment through financing face different terms compared to those purchasing new items. While many lenders provide financing options for pre-owned equipment, these loans typically come with less favorable conditions than their new equipment counterparts. The primary distinctions between used and new equipment financing appear in two critical areas: interest rates and repayment periods. Lenders generally charge…
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