Your equipment should work for you and so should the terms of your lease. Your lease will be structured with a payment frequency you choose (monthly, quarterly, semi-annual, annual etc.). Typically, you only need to make the first payment to start a lease. This allows you to conserve cash, saving your traditional credit lines for other opportunities, and deducting the entire lease payment on your tax returns.
The type of assets you can lease are almost limitless. You could lease an outbuilding or a barn, a chopper or a log truck, a feeding system or an ID metering system, a fleet of pick-up trucks or your personal everyday pick-up truck. If you are interested in almost any size and style of truck, trailer or related equipment, Farm Credit Leasing has the buying power to get you an even greater discount than the one that you can bargain with your local dealer. Let us save you time and money.
Even if you do not anticipate doing a lease this year, it never hurts to be prepared when unexpected opportunities arise. Yankee can set you up with a “Lease Line of Credit” (LLOC). A LLOC is essentially a “pre-approval” on a lease. This is a convenient tool to have when negotiating with an equipment dealer. Please ask your loan officer how you can set up a LLOC.