The term ‘yellow goods’ refers to large earthmoving equipment used in mining, civil engineering and construction; companies that use such equipment do require funding and with that in mind, here is some useful information on yellow goods finance.
Various types of yellow goods
The machinery under the umbrella of yellow goods includes the following:
- Excavators
- Bulldozers
- Earthmoving trucks
- Graders
- Front bucket loaders
Whether you require new or used equipment, there are leading Australian lenders who offer a range of finance products. While it is a considerable investment when you add to your fleet, without it you cannot expand your business; whether new or used yellow goods, you can get a quick approval for a range of finance products.
Yellow goods finance lease
Once you land on the finance company’s website, you can check the novated lease requirements and crunch the numbers. This type of finance is ideal for companies that do not wish to tie up all of their capital; you can borrow from A$10,000 to A$500,000 over a term of 2-5 years. There are no annual or accounting fees and payments are made by direct debit, plus there are significant tax incentives. When the lease expires, you have several options; you can continue leasing the equipment or negotiate leasing other yellow goods items.
Yellow goods commercial financing
If you are looking for a straightforward commercial loan to acquire yellow goods. Search online for Australia’s leading commercial lender, where you will find details on the product.
Features include the following:
- Loan duration from 2-5 years.
- Competitive rates of fixed interest.
- Amortised or balloon payments.
- No annual or bookkeeping fees.
The application process is straightforward and once you have made contact, a staff member would oversee the application and you can acquire the necessary yellow goods to keep your business going. Click here for emerging trends in enterprise insurance.
Business expansion
If your business is doing very well and you wish to expand your yellow goods fleet without investing more capital, a commercial lease would probably be the best way to achieve this. Whether new or used, if you need to more heavy plant in order to meet the demand, there are commercial lenders with special tailored loan and lease products.
If you have a 5-year business plan and you expect to take on more projects, talk to one of the leading Australian commercial lenders and tailor a finance plan that allows you to go ahead and acquire the machinery. Whether you are in the mining or construction industry, yellow goods finance enables your business.
It is smart to arrange comprehensive yellow goods insurance to minimise risk to your business and such policies are available from the lender. Of course, equipment must be serviced in order to perform as designed and the manufacturer handles all maintenance until the warranty has expired.
