Auto Repair Shop Financing In Hawaii
Get Competitive Financing Rates for Auto Repair Shops
Are you looking to finance equipment for your auto repair shop?
We know the automotive repair industry when it comes to financing. For 20 years, we’ve helped Auto Repair Shops, Body Shops, and Tire Shops finance their bay lifts, alignment machines, tire changers, diagnostic equipment, and more. Good Credit? We can get Auto Repair Shop owners like you fast approval with application-only financing up to $250k without financials.
Bad Credit? No problem. Let’s talk about your options. With a little leg work, we’ll get you there. We’ll graduate you to APP-ONLY financing someday.
With financing and leasing compared to traditional lenders: Here’s what you can expect when you finance equipment with us.
- Up to 120% of the total cost
- $0 Down Equipment Financing for well-qualified buyers
- Up to $250,000 with a simple one-page application
- Up to $5,000,000 with financial disclosure
- 100% prefunding
- 90-day deferred payment options
- Low Doc funding
- Pre-Funding vendors no problem
- Eligibility for all new and used equipment purchases
- No age restriction on certain equipment
- Startups OK!
These solutions typically involve two primary options:
- Repair Shop Equipment Financing: Businesses secure equipment financing for repair shop and auto bays, forklifts, and alignment machines. This financing allows businesses to spread the cost of equipment over time, making it more affordable while benefiting from the advantages of financing.
- Repair Shop Equipment Leasing: Leasing involves off-balance sheet financing in the form of Fair Market Value (FMV). During the lease term, the business pays regular payments to the leasing company, with payments 100% deductible. At the end of the lease term, the business may have the option to purchase the equipment—typically for 10% of the cost or based on current FMV—or return the equipment and negotiate a new lease agreement for upgraded equipment. Lease-to-own is the most popular option.
Both Automotive Repair Shop Financing and Leasing options offer benefits such as preserving cash flow, avoiding large upfront costs, and providing flexibility to consistently update equipment. Additionally, financing and leasing solutions may include maintenance, installation, delivery, and service agreements, while also hedging against inflation.
If you want to expand your body shop, Liberty Capital can handle working capital, term loans, lines of credit, and especially equipment financing. If it’s on the invoice, we’ll consider financing it. Even Commercial Trucks Financing is available for auto body and repair shops that offer towing services. Adding this to your business model could help increase revenue and create new opportunities with Automotive Shop Financing.
Apply now to get your business capital to grow. Call now: 888-511-6223.
Auto Repair Shop Equipment Application Only up to $250,000
One of the utmost necessities for a repair shop is its equipment. It’s imperative to ensure that operational equipment, which serves as an asset for the company, is well-maintained and kept current. Equipment loans or leasing are viable routes for expanding businesses. Leasing offers numerous advantages, such as tax benefits, cash flow savings, protection against inflation, and safety from obsolescence. Call us today! Apply Now.
Business equipment loans are easy to get. Here is why:
- Less paperwork
- No collateral needed; the equipment is the collateral
- Fast processing and funding time
- May require a lower credit score to get approved
- Less capital outlay than purchasing outright
What do I need to apply?
ONLINE APPLICATION: You can fill out our application, upload documents, and authorize us to process your request. We perform a soft inquiry, and our lender will conduct a hard inquiry once you are approved.
Equipment Invoice or Quote: Provide an invoice or quote for the equipment you want to buy. Multiple vendors are accepted, and we’ll consolidate them into one monthly payment for you.
Bank statements (3-4 months)
Once we have your application, your funding advisor will reach out to discuss the process, timeline, and expectations. We’ll then make an offer, and if accepted, we’ll contact the vendor for payment instructions. We can pre-fund any vendor up to 100%, and we offer financing for used equipment for up to 60 months.
Auto Repair Equipment Financing for Startups
Having the most reliable and upgraded automotive equipment for your startup business can help you compete with established competitors. Acquiring updated equipment will enable you to service cars that others cannot. With affordable Fixed Monthly Payments, you can bring a lot to your startup with little to no capital outlay. Leasing automotive equipment offers many benefits, including the ability to upgrade when the lease ends if the equipment depreciates in value.
Compared to banks, Liberty Capital’s leasing program is ideal for auto repair shops needing new funding.
Advantages when you finance equipment include:
- Up to 90% of equipment cost
- Up to $250,000 with a simple one-page application
- Up to $2,000,000 with financial disclosure
- Pre-funding available for qualified equipment vendors
- 12–60-month fixed payment terms
- No down payment for Qualified Borrowers
- Lowest rates in the industry for qualified borrowers
- Eligibility for all new and used equipment purchases
- Does not report to personal credit
Credit Requirements for startup auto repair shops:
- Business license or active business entity with the Secretary of State
- Personal Guarantees required from all owners
- Minimum 650 credit score
- No bankruptcies in the last 7 years
- No unresolved tax liens
- Business bank account/FED ID
A Wide Range of Auto Repair Shop Equipment Financing Solutions…
Whether you’re replacing outdated equipment or expanding your automotive brand, having updated manufacturing equipment is essential to support a wide range of automakers. Expansion allows you to grow without a significant capital outlay for equipment. Start by creating a monthly budget you can afford, work backward, and get pre-approved based on that budget. Liberty Capital can provide flexible and affordable payment solutions for all your Automotive Equipment Financing. We focus on minimizing costs while maximizing returns. With Liberty Capital, leasing is simple—get pre-approved, and then find equipment that fits your budget.
We can also break financing into Multiple Funding Lines or explore options like Small Business Loans.
In addition to standard leases, we offer flexible payment plans:
- $99 for the first 12 months: Start with just $99.
- 90-Day Deferral: No payments for the first three months.
- Low credit accepted for well-established companies.
- 0% interest promotion for well-qualified auto shops.
- No balloon equipment financing.
- Fast approvals: Online Application up to $250,000. Full financials required for amounts above $250,000.
- Equipment finance agreements or lease terms ranging from 12 to 60 months.
Auto repair shop financing through Liberty Capital accommodates a wide range of Credit Profiles. We offer various funding options for automotive repair businesses, including unsecured loans for working capital to grow through marketing or hiring new staff.
FAQ about Auto Repair and Body Shop Equipment Financing
Auto repair and body shops rely on specialized equipment to deliver quality services to their customers. Acquiring this equipment can be costly, especially for new or expanding businesses. Equipment financing offers a solution by providing the funds needed to purchase or lease equipment, spreading the cost over time. This FAQ addresses common questions about equipment financing for auto repair and body shops.
- How does equipment financing work for auto repair and body shops?
Equipment financing allows auto repair and body shops to acquire the necessary equipment without paying the full cost upfront. Businesses secure a loan or lease agreement with a lender, which covers the purchase or lease of the equipment. They then make regular payments over a set term, typically monthly, until the loan or lease is fully paid off.
- What types of equipment can be financed?
Equipment financing can cover various types of equipment, including diagnostic tools, lifts, tire changers, paint booths, and welding equipment. Both new and used equipment can be financed, allowing businesses to choose options that best suit their needs and budget.
- What are the benefits of equipment financing for auto repair and body shops?
Equipment financing offers several advantages, including:
- Preservation of capital: Businesses can maintain cash flow for operational expenses instead of tying up capital in equipment purchases.
- Flexible payment options: Financing provides payment terms tailored to the business’s cash flow, with fixed or variable interest rates.
- Tax advantages: Depending on the financing structure, businesses may qualify for tax deductions or credits on their payments.
- Access to the latest technology: Financing enables businesses to acquire cutting-edge equipment without a large upfront cost.
- What factors determine the cost of equipment financing?
The cost of equipment financing depends on factors such as:
- Creditworthiness: Lenders evaluate the business’s credit history, financial stability, and repayment ability.
- Interest rates: Rates may be fixed or variable, influenced by market conditions and the borrower’s credit profile.
- Loan term: Longer terms typically result in lower monthly payments but higher overall costs.
- Are there down payment requirements for equipment financing?
Down payment requirements vary based on the lender, equipment, and borrower’s creditworthiness. Some lenders may require a down payment, while others offer 100% financing with no money down.
- What happens if I default on equipment financing payments?
Defaulting on payments can result in equipment repossession by the lender, damage to the business’s credit score, and potential legal action to recover the debt.
- Can equipment financing be used for upgrades or expansions?
Yes, equipment financing can be used for upgrades, expansions, or replacements. Whether adding new services, expanding capacity, or replacing outdated equipment, financing provides a flexible solution.
- How do I apply for equipment financing?
Auto repair and body shop owners can apply for equipment financing through Liberty Capital Group, Inc., which specializes in equipment financing for this industry. The application process typically requires financial documents such as tax returns and bank statements, along with details about the equipment to be financed.
Equipment financing is a valuable tool for auto repair and body shops seeking to acquire the equipment they need to grow their businesses. By understanding the basics of equipment financing and exploring available options, businesses can make informed decisions to support their success.
Apply now to secure the capital you need to grow your auto repair shop. The process is simple: submit a one-page application, provide three months of bank statements, and include the equipment invoice. Call now at 888-511-6223.
What type of Funding for Auto Repair and Body Shop Owners need to expand:
- Build-Out Capital: This type of funding is essential for covering the costs associated with renovating or constructing the physical space for the repair shop, including leasehold improvements, construction materials, interior design, and signage. Loans for body shop and auto repair industry is critical in an ever changing automotive industry with EV vehicles coming of age.
- Equipment Financing Agreement: Business owners often require financing to purchase or lease equipment necessary for their operations, such as bays, lift and other that can be part of the build-out, refrigeration units, Racks, POS systems, and office furniture. Equipment financing allows them to acquire these assets without depleting their capital reserves.
- Line of Credit: A line of credit provides business owners with flexible access to funds to cover short-term expenses or manage cash flow fluctuations. It can be used for various purposes, including purchasing inventory, covering payroll costs during slower periods, or addressing unexpected expenses.
- Payroll Funding: To ensure smooth operations and retain qualified staff, business owners may need funding to cover payroll expenses. This type of funding can help them meet their payroll obligations during periods of low revenue or when facing unexpected financial challenges.
- Inventory Financing: Business owners rely on a steady supply of ingredients and supplies to meet customer demand. Inventory financing allows them to purchase inventory in bulk or maintain adequate stock levels without tying up their working capital. This type of funding is particularly beneficial for seasonal businesses or those experiencing fluctuating demand.
By leveraging these types of funding, auto body, auto repair and automotive shop owners can effectively manage their expansion plans, invest in essential assets, maintain cash flow stability, and position their business for long-term success. With Liberty Capital’s 20 years of Experiences, we have the right loan for you.
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Get Started Today
Our application process is easy. Simply fill out our quick, online application and start the process of securing financing for your start up practice. Our knowledgeable finance experts are here to assist you in obtaining a start up financing loan.
If you have any questions, we invite you to contact us
- 619-795-3123
- Mon – Fri: 6:00 am – 6:00 pm (EST)
