Financing
  
Loren Ipsum:

Zip's Truck Equipment, Inc. is an independent, collateral-based finance company. We are a locally-owned, Iowa company that believes in the Midwestern values of high-quality personalized service. Zip's specializes in the leasing and financing of new and used wreckers, car carriers, toters and other heavy duty equipment. Zip's can meet your needs with flexible leasing and financing of equipment from the dealer or distributor of your choice—private sales, too! Choose the program which best fits your company's needs. Submit your credit application online or fax your credit application to us at (641) 394-5706.

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Financing Advantages:
Many customers choose Zip’s financing as the right option for them. Some of the advantages are lower insurance costs, build equity, exclusive ownership, no mileage limitations, no excessive wear & tear clause and no pre-payment penalties are some of the advantages. Read more about financing below and complete an online credit application or call us today at (800)222-6047.

Tax Advantages. Purchasing the equipment with a finance program may allow you to expense the cost of the equipment in the year in which the equipment is placed in service under IRS Section 179 of the tax code. The maximum IRS Section 179 deduction, as adjusted for inflation, is $500,000. The dollar limitation may be adjusted for inflation for future tax years. Depreciation and interest expense are tax-deductible expenses over the IRS useful life of the equipment and life of the loan, respectively. Please contact your tax advisor.

No Pre-Payment Penalties. A loan allows you to pay off the loan at any time, without prepayment penalties, giving you full ownership and the right to sell your equipment.

Build Equity. As loan payments are made, you will build an equity position in the equipment. This may be beneficial if you plan to keep the equipment longer than the financing term. This equity may be used as collateral on other loans.

Exclusive Ownership.
Upon the payoff of the loan, the vehicle is yours to keep or trade-in on your next vehicle rather than turning in at the end of a lease.

Lower Insurance Costs. Your insurance costs may be lower with a loan as the rates usually drop as the vehicle gets older whereas a leasing company may impose conditions keeping premiums higher. If the car is stolen or totaled, you settle with the insurance company, but still must pay the full loan amount. With a lease, if the car is stolen or totaled, you must pay the leasing company its cash value, plus any past due payments or charges.

No Additional Sales Tax. Implications With a loan, in most states, sales tax in paid in advance with no further sales tax implications to you as the owner of the equipment. With a lease, if you purchase the vehicle at the end of the lease term, additional sales tax may be due on the purchase price.

No Mileage Limitations. As you own the vehicle, there are no mileage limitations with a loan. With a lease, you may be limited to a fixed number of miles per year. Exceeding this limit will incur excess mileage charges, usually of 15 cents per mile adding additional cost to a lease.

No Excessive Wear & Tear Clause. A loan has no excessive wear and tear clause. With a lease, most contracts limit reasonable wear and tear during the term of the lease and you will be charged for exceeding those limits when you turn in the vehicle.

One Stop Financing. All your financing is handled by one source. Your finance specialist at Zip’s Truck Equipment, Inc. will handle all documentation.

Ease Of Application. Our lease plan offers a simple credit application asking only for pertinent information. No financials or tax returns are required on transactions less than $75,000.

Fast Response. We offer a 24-hour decision turnaround for your credit approval on most transactions.
Leasing Advantages:
There are numerous reasons that leasing may be the best option for you. Lower initial costs, improved cash flow, simplified budgeting, protection against inflation, retained capital for earnings, payment flexibility and conservation of bank credit lines are some of the advantages. Read more about leasing below and complete an online credit application or call us today at (800)222-6047.

Tax Advantages
. Lease payments are fully tax-deductible as operating expenses which come out of before-tax dollars, or current income, not from after-tax dollars. In many tax situations, it is more advantageous to deduct the full lease payment than to depreciate the vehicle value. Please contact your tax advisor.

Conservation of Bank Credit Lines. A lease offers an additional line of credit, conserving your valuable bank credit lines which should be reserved for working capital, short-term needs, and unbudgeted opportunities. Leasing offers off-balance sheet financing.

Leasing Protects Against Inflation. New and up-to-date equipment may be leased today and paid for with tomorrow’s inflated, less valuable dollars.

Improves Cash Flow. Lease payments can provide a superior cash flow compared to loan payments, especially in the early years of equipment use.

Lower Initial Costs. Our leasing requires an initial investment generally of only a first lease payment in advance of 15% of the equipment cost. Most bank financing requires at least a 25-45% down payment or equity position in the equipment.

Retains Capital For Earnings. Retaining capital by leasing allows full employment of capital for earnings. This can represent a savings over financing which may require a larger investment in the equipment.

Permits Payment Flexibility. Lease payments can be tailored to meet your cash flow needs even if the business is seasonal. Thus, your payments are timed for the use of the equipment when earnings are generated.

Simplifies Budgeting. Preparing and projecting a budget can be simplified as lease payments are known and fixed.

One Stop Financing. All your financing is handled by one source. Your finance specialist at Paramount Financial will handle all documentation.

Ease Of Application.
Our lease plan offers a simple credit application asking only for pertinent information. No financials or tax returns are required on transactions less than $50,000.

Fast Response.
We offer a 24-hour decision turnaround for your credit approval on most transactions.