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financing

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FINANCING YOUR KETTLE COOKER

We offer financing on all our Kettle Cooker packages, through 3rd party national lending institutions familiar with our equipment, most generally in the form of lease/purchases. In truth, you will likely get a better interest rate through your local bank, credit union, or home equity loan type financing...if this is something that is available to you. However if these avenues are not available to you, or you have a banker that's only comfortable making auto and home loans, then this is a good financing option, and the rates are reasonable for this type of financing ie: equipment financing on a "start up" business.

As with all financing, good credit is required. While "stellar credit" is great, it's not a requirement. We've been able to procure financing with average credit, keeping in mind that bankruptcies within 2-years, and recent slow pay are deal killers. Terms generally require a minimum down payment equal to two monthly payments, depending on the strength of your credit score, plus $150.00 - $250.00 documentation fee for credit report, filings, etc. The balance is paid over a period of 12 to 60 months, and there are programs for seasonal adjustments or "no-payments for 60 days" etc.. Physical damage/loss insurance on the equipment package is required, during the time the lease/purchase is in force, and can be included in the monthly lease payment, depending on which company you're financed through. You have the option of paying the lease/purchase off early, without pre-payment penalty, at any time after 12 timely monthly payments have been made, which we feel is a very positive benefit, in that our cookers generally pay for themselves rather quickly.

Lease/purchase is an excellent purchase option, depending of course on your cash liquidity and personal circumstances. It permits you to buy a cooker at a minimal cash outlay, and utilize the cooker to make the payments. Most financing requires a 20% to 30% down payment, whereas a lease/purchase allows you to hang on to your working capital. It also allows you to deduct the full lease amount against income, for tax purposes, or you can capitalize the asset and depreciate it...up to 100% write off in the first year if you opt to take a Section 179 tax deduction. The purchase price at lease end is somewhat negotiable when you take out the lease´┐Żbut in most cases it is $1.00. Another plus is that lease/purchase financing generally doesn't show up as a liability on your credit report, thus not affecting your credit score...provided of course you make your payments as agreed.

Because this not a true lease, but rather a lease/purchase designed to help you purchase the equipment package, the lease is a "guaranteed lease" whereby it obligates you to make all the lease payments, subject to the no-penalty pre-payment option after 12 months, the same as if you were to finance through your local bank, credit union, etc. You also have the option to make a larger upfront payment, or finance just part of the equipment package, if you have the funds and desire to keep the monthly payment down. I have set forth an example of a typical lease/purchase, based on 60 months:

Purchase Price on Complete Mobile Package with Model 115TS cooker, complete tent setup and 6'x12' tandem trailer
$25,000.00
Initial cash outlay - First and Last months payment and documentation fee est.
$1,400.00
Monthly payment (approximate based on good credit and 60 months)
$580.00
Buyout at end of lease
$1.00

Note: There is no pre-payment penalty on early payoff, after 12 monthly payments are timely made.

Estimated payments based on Start Up rates as of January 2008.

We invite you to call and discuss our lease/purchase financing options.