THE SHOP

Performance & Hotrod Business February '14

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n n n n eyes on the business Manufacturer Financing & Leasing Options By Jake Rishavy Cash may be king, but smart business owners can benefit from strategic use of alternative financing options. I n a perfect world, every hot rod and performance shop would be so flush with cash they could pay out of pocket for major equipment purchases like lifts, dynos, CNC machines, 3D printers and spray booths, and never feel it in their budget. The reality, however, is that most shops operate quite a bit leaner than those in that fantasy world. And even those real-life shops that are well capitalized can benefit from strategic use of alternatives like manufacturer financing and leasing. BUSINESS Alternative Financing Brad Bayless, vice president of Englewood, Colo.-based Dynamic Funding Inc., notes that businesses of all sizes can benefit from such financial options. In the company's 18 years, it has provided leasing services for the acquisition of high-dollar equipment for companies within the automotive industry and beyond. Regardless of the industry or size of company, he says, the utilization of alternative financing can make solid business sense. "There are a few primary advantages to leasing expensive equipment over purchasing it outright," says Bayless. "First, leasing expensive equipment allows business owners to preserve the cash they would have spent on that equipment to invest in other parts of the business, including maintaining that cash as operating capital. It often makes sense to lease big-ticket items, and save cash for other needs. (Courtesy Color on Wheels) 78 nn Performance && Hotrod Business nn February 2014 78 Performance Hotrod Business February 2014 PHBFEB.indd 78 1/3/14 12:16 PM

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