Seasonal payments
How it Works
- Applies to a finance contract
- Lender will reduce payment amounts for period of time annually for full term of the loan
- Ex. Seasonal spikes and declines in business
Benefits
- Reduce expense during slow season
- Opportunity to structure all equipment
- Peace of mind
Example
| Unit | 2020 Utility 3000R w/o unit = $54,000 |
| Term | 72 Months |
| Residual | n/a |
| Rate | 6.25% |
| Monthly Payments | $1,044 $500 (Dec, Jan, Feb.) |
| Total Interest | $11,411 |
| Total Cost | $65,411 |