Rent To Own
- Vehicles, Mining, Agriculture and Civil Assets
- New & Secondhand asset options
- Rent to own trucks
- No financials required
- Startup businesses welcome
- Weekly or monthly repayments
- A genuine alternative to truck finance
- Better than plant hire when you don’t qualify for excavator loans
- Dry Hire alternative that builds equity in your business
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Rent to Own Equipment: The Smart Choice for Your Business Assets
Getting the assets you need to take advantage of opportunities can sometimes be tough, especially when you need big ticket assets like trucks, excavators, mining equipment or specialised farm equipment. Traditional equipment finance doesn’t always work for business in all circumstances but if you can demonstrate income a rent to own solution can get you into the equipment you need and be a pathway to ownership as you build equity in your assets.
The Dry Hire Alternative - Rent to Own Trucks, Excavators and More
One of the most appealing features of Rent-to-Own solutions is the sheer variety of assets you can acquire. Whether you need a fleet of vehicles for a logistics operation or specific vehicles for mining or farm work, all of these can be acquired with a rent to own truck finance solution. More than just trucks, you can rent to own mining equipment, civil assets, and all kinds of machinery, either new or second-hand. You can build equity in your rentals and never Dry Hire again with rent to own truck financing.
Rent to Own for Startups and Mature Business
Startup businesses can obtain equipment finance if they have a solid cash flow forecast based on work in place but sometimes they can’t meet the deposit requirement. Rent to own for startups offers a solution provided you can demonstrate income. You can also extend beyond your equipment finance limits with a rent to own solution. Similarly, if an existing business has been through a downturn but has a positive future ahead of them, rent to own equipment finance solutions can assist a mature business get the assets they need to do business.
FAQs
Lots of different industries utilise rent to own solutions for their equipment. Whilst any kind of business can rent to own vehicles and equipment the most common industries are:
- Civil contractors
- Dry hire operators
- Plant hire businesses
- Mining Services
- Trucking Companies
Yes you can rent to own a truck if you can show that you can make rental payments. You don’t need 2 years of financials like a bank would need. If you have a business that’s ABN and GST registered and can demonstrate income to make repayments you can generally qualify for a rent to own truck solution.
Yes you can rent to own an excavator of any size instead of relying on dry hire excavator services. You can rent to own excavators that are new or secondhand of any size. Instead of continuing to pay dry hire fees you can rent to own your own excavator and begin to build equity in your asset rather than having nothing to show for the rent you pay.
Yes you can rent to own farm equipment. If you have income that demonstrates you can make the rental payments, have an ABN and are GST registered you can rent to own farm equipment. You can rent to own second hand farm equipment or new equipment purchased from a dealer.
Dry hire refers to renting out equipment without an operator, while rent to own offers a pathway to ownership for a business owner. Over time, as you make your rental payments for rent to own items, you’re working towards owning the asset and your equity grows. You also have the opportunity to sell your asset during the rental period and keep the proceeds of any equity you’ve built up during the rental period.
Yes you can buy the equipment during the rent to own period. If for example 9 months into the rent to own contract your circumstances are strong enough that you can buy the asset outright or use equipment finance to purchase the equipment you can take advantage of this and buy the equipment when it suits you.
Yes, based on your financial capabilities and the demonstration of income to make rental payments, you can rent to own multiple assets simultaneously. You could even rent to own a whole fleet of assets.
Rent to own equipment solutions are very well suited to startup businesses because it doesn’t require extensive financial history or large deposits to get into the assets you need. Startups can obtain the necessary equipment they need while preserving their business cash flow and begin building equity in their equipment.
With rent to own, you’re renting the equipment with the option to own it by the end of the contract term, often without requiring a substantial deposit or credit checks. Whereas the application process for equipment finance often requires significant time in business demonstrating positive cash flow and providing financials which means it can be more difficult to obtain for some business owners. Equipment finance also shows up as a liability on the balance sheet whereas rent to own equipment payments are recorded as a deductible expense which could be beneficial depending on your circumstances.
