How Does Generator Financing Work?
There is no doubt buying a generator is a great investment for any business or homeowner, but you have to pay a hefty amount to enjoy the benefits of a generator, which often makes people postpone their purchase.
If you are interested in buying a generator but its cost is making you rethink your plan, generator financing may be the answer you seek.
Many generator vendors and distributors offer generator financing options to people who cannot afford to buy it in one go. With the generator financing options, you can purchase a generator by paying affordable monthly payments and restore your home’s power in the event of a power outage without breaking the bank.
Learn how financing a generator works
Once you have chosen the diesel generator that you want to buy, you will get different financing options to choose from. If you are buying a generator from United Tech Power, the financing options you have include fixed-rate financing, adjustable-rate financing, and short-term financing.
You can select any of these three options based on what you find the most convenient. Let’s see what these financing options offer:
- Fixed-rate financing: You pay a fixed amount of interest throughout the set period.
- Adjustable-rate financing: The rate of interest changes as time goes on.
- Short-term financing: You pay installments/payments for a comparatively shorter period of time.
Once you select your financing option and sign an agreement with the company, your payment plan will start. You will have to pay the loan amount (the amount you are actually borrowing to purchase the generator) and the interest throughout the loan term.
Benefits of financing a generator
Generators are expensive equipment available in different forms and at different rates based on their features. They are especially helpful for people who live in areas that often experience storms. They can power up your home or business during unexpected power blackouts.
Saving up to buy a generator that costs thousands of dollars with cash can take years, especially if you can save only $100 every month. People who often experience power outages cannot wait long to buy a generator until they have saved its entire cost.
They find financing a generator a better option than buying it with cash. Financing spreads the price of an expensive diesel generator over several months, helping people buy an expensive item more affordably. It also helps you get a better generator than the one you could buy if you used cash.
Why you should choose United Tech Power for financing a generator
- United Tech Power offers three different financing options so that people can select one that they find more feasible.
- We allow our customers to apply online anytime and get the process started soon without having to wait for days or weeks to get a response.
- With our fixed-rate financing option, you pay only a fixed amount over a fixed time duration, helping you manage your cash flow.
Finance a generator today to purchase an expensive generator even with your budget constraints!