Skip Payments
How it Works
- Applies to a finance contract
- Great for businesses that haul construction equipment
- Lenders will skip a period of payments annually for the full term of the loan
Benefits
- Significantly decreases expense during your slow season
- The 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 | $1,214 (skip Dec, Jan, Feb.) |
| Total Interest | $11,597 |
| Total Cost | $65,597 |