Engel
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Mehmi Financial Group helps businesses finance and lease Engel equipment, including manufacturing equipment, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Engel units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About ENGEL
ENGEL was founded by Ludwig Engel in 1945 in Schwertberg, Austria; it patented its first plastics press in 1948 and launched its first injection molding machine in 1951, according to ENGEL. ENGEL established its North American location in 1974.
ENGEL equipment on our list
Our list includes ENGEL injection molding machines, used by plastics processors in automotive, medical, packaging and consumer goods.
How lenders view molding machines
Lenders review clamp tonnage, age, controls and hours, plus robots, molds and auxiliaries bought with the machine. Customer contracts strengthen the application.
Financing ENGEL equipment
Molding cells are often financed with automation and auxiliaries. Used machines are financed on condition and an appraisal.
How Engel equipment financing works
Most Engel 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.
What lenders check on a Engel manufacturing equipment
Lenders look at the machine type, installation and tooling costs, and the contracts or production the equipment supports. Soft costs such as rigging and installation may be included, subject to lender approval.
Expect to provide a credit application, recent business bank statements, the dealer quote or bill of sale with serial number and age and usage, 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.
All Engel models with financing pages
| Model | Type | Category |
|---|---|---|
| Engel | Equipment | Manufacturing |
| Engel Injection Molding Machine | Equipment | Manufacturing |
Tax treatment of Engel equipment
In Canada, machinery used to manufacture or process goods has its own CCA classes (Class 43 and Class 53), and which one applies depends on the asset and purchase date. Confirm the class with your accountant. 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 Engel 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 Engel equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance Engel equipment to take on new work, replace aging units or add capacity.
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 age and usage?
- 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 Engel 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 an ENGEL injection molding machine?
Yes. Lenders review tonnage, age and the shop's contracts.
When was ENGEL founded?
ENGEL was founded in 1945 in Schwertberg, Austria.
Can robots and auxiliaries be included?
Some lenders include them on the same quote.
Can I finance a used ENGEL machine?
Yes. Lenders review hours, condition and an appraisal.
Does ENGEL have a North American location?
Yes, since 1974.
Do customer contracts help?
Yes. They show how payments will be covered.
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