Combilift
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Mehmi Financial Group helps businesses finance and lease Combilift equipment, including lifts, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Combilift units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Combilift
Combilift was established in 1998 by Martin McVicar and Robert Moffett in Monaghan, Ireland, per Combilift, and makes multidirectional and sideloader forklifts.
Combilift equipment
Combilift trucks handle long loads in lumber yards, steel service centres and narrow-aisle warehouses.
What lenders look at
Lenders review the operation's finances and how the truck fits the facility.
Financing Combilift equipment
Combilifts are often leased or financed singly.
How Combilift equipment financing works
Most Combilift purchases are financed with an equipment loan or a lease. A loan gives you ownership from day one, with the lender registering a security interest (PPSA in Canada, UCC in the USA). A lease keeps title with the lessor and can lower the monthly payment, with a buyout, renewal or return option at the end.
Combilift equipment we help finance
Financing Combilift aerial lifts
Aerial lifts, scissor lifts and boom lifts are financed by contractors and rental companies. Lenders look at platform height, power type, hours and inspection records. Rental fleets often finance several units at once, and lenders review utilization and rental revenue for those deals.
Combilift aerial lifts on our eligible equipment list include Combilift equipment.
What lenders check on a Combilift lift
Lenders look at machine hours, service records, undercarriage or tire condition, and whether the unit is tied to contracts or a steady work program. Used machines with strong resale demand are usually easier to finance than specialized units.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and hours, and financial statements or tax returns for larger amounts.
See the full list of eligible equipment, compare equipment financing options, or estimate payments with the equipment financing calculator.
Tax treatment of Combilift equipment
In Canada, the CCA class depends on the asset and how it is used. Your accountant can confirm the right class. With a loan, you generally claim capital cost allowance and deduct interest. With a true operating lease, lease payments are generally deductible instead. See the CRA classes of depreciable property. In the USA, Section 179 and bonus depreciation may apply; see IRS Publication 946. Always confirm with your accountant.
End-of-term options on a Combilift lease
A $1 buyout lease is built for ownership: you keep the machine for a nominal amount at the end. A fair market value lease usually has a lower payment, and at the end you can buy the equipment at its market value, return it or upgrade. Read the return conditions, such as hour limits and wear standards, before you sign.
Who finances Combilift equipment
The right structure depends on how the equipment earns money. A machine tied to a long contract can support a longer term, while seasonal work may call for skip or seasonal payments that some lenders offer.
Questions to ask the dealer or seller before you finance
- What is the exact model year, serial number and hours?
- Is there a service history or recent inspection report?
- Is any warranty or extended coverage included, and does it transfer?
- Are attachments, delivery, installation and taxes itemized on the quote?
- For a private sale, is the equipment free of liens, and who will provide the bill of sale?
Insurance on financed Combilift equipment
Lenders and lessors require the equipment to be insured for its replacement or financed value, with the lender named as loss payee, before funding. Some also ask for liability coverage. Getting an insurance quote early avoids last-minute delays.
Frequently asked questions
Can I finance a Combilift?
Yes.
When was Combilift founded?
In 1998.
Can a lumber yard finance one?
Yes.
Can used Combilifts be financed?
Yes.
Is leasing available?
Yes.
Can attachments be included?
Yes.
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