Funding Options on large and Expensive Equipment

Anige

I want to get a large & expensive piece of equipment, but I'm unsure how to finance it. I have come down to a few options, but here are the main ones I'm considering; second mortgage, or asset finance (leasing option). The latter option will help me feel less stressed, but the former has the lowest interest rate . I don't know the leasing option affects my overheads yet. The equipment is as expensive as an averaged priced car.

Peterdalkey

Generally you won't get leasing on a used piece of equipment. I would say in this tight credit market if you can find even one bank/financial institution to lend you the money, that will be your only choice.

Anige

Thank you, it helps to know which options aren't possible options. I agree that the credit market is tight, I will try and see what happens. If it can't be done, I will try and work something out with the seller that will be mutually beneficial. The equipment aren't being used now, and is in fact in storage.

prospect

Have you any options of assistance from your local County Enterprise Board or Enterprise Ireland?

pedronomix

prospect wrote: »

Have you any options of assistance from your local County Enterprise Board or Enterprise Ireland?

OP is in South Africa!