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Leasing Mining Equipment for 2021
Leasing Mining Equipment for 2021
Nearly every commodity we use in our daily lives is made from mined minerals. Modern society wouldn't exist without these minerals.

Nearly every commodity we use in our daily lives is made from mined minerals. Modern society wouldn't exist without these minerals. But to run a mine, move equipment, and access other resources, heavy duty equipment is necessary. Equipment financing is available for those who need to purchase crushing equipment, underground excavators and conveyors, blasters, blasters, or drilling equipment. Equipment Finance is a great way to reduce your financial burden.

Why Lease Mining Equipment?

Equipment finance can help keep your cash flowing consistent and your company solvent. Why is leasing an option? Let's take you and your company through the benefits of leasing.

  • There are no upfront payments
  • Long-term contracts are not binding
  • Financial obligations are not imposed year after year
  • You are covered by the equipment insurance
  • You might swap out outdated equipment for the latest technology
  • You can select your preferred suppliers
  • Tax advantages are substantial
  • There are deductions for VAT
  • You can finance an endless number of items
  • To raise capital, you can refinance equipment that is already in use
  • The contract ends with a sale-and-leaseback option

If you take into account the benefits above, leasing mining equipment makes more financial sense than buying it.

What is Equipment Leasing?

Equipment that is essential for mine owners or contractors can be leased. These equipment can be used for any purpose, including vehicles or specialist machinery. You can then either return, renew, or purchase the equipment. Equipment leasing is different from equipment financing. This is where you take out equipment loans to finance the machinery. Finance involves purchasing the equipment and paying it off over a specified period. The equipment serves as collateral. After the loan is paid off you can then own the equipment.

The machinery you lease does not automatically become yours when the lease ends. Like equipment financing, your monthly payment/fee includes the interest and fees. A lease agreement is a contract you enter into with an equipment supplier or owner. You do not purchase the equipment.

How can Leasing help you increase your business productivity?

You can lease your mining equipment for a fraction of the cost and still have access to the most up-to-date equipment. The lease ends and you can choose to renew, buy, or return your equipment. This gives you flexibility with your equipment and business, and allows you to spread costs over a certain time. Often, this agreement includes a service agreement, which eliminates the need to have an in-house maintenance staff.

It is essential that your business has the best technology available to ensure its competitiveness and productivity. Your business will be more profitable and efficient if it has the right equipment. Equipment Finance can lease your mining equipment to give your business the edge it requires in 2021.