Hexagon
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Mehmi Financial Group helps businesses finance and lease Hexagon 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 Hexagon units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Hexagon metrology
Hexagon makes metrology equipment, including coordinate measuring machines (CMMs) and metrology software that deliver precise, traceable measurement from the quality lab to the production line.
Hexagon equipment
CMMs, portable measuring arms and laser trackers are used by machine shops and manufacturers in aerospace, automotive and medical work to inspect parts and prove quality.
How lenders view metrology equipment
Measurement equipment is often required by customers for quality certification. Lenders review the quote (machine, software, installation and training), the business's financials and its contracts.
Financing Hexagon equipment
Software and installation can sometimes be included. CMMs are often financed alongside new CNC machines.
How Hexagon equipment financing works
Most Hexagon 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 Hexagon 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 Hexagon models with financing pages
| Model | Type | Category |
|---|---|---|
| Hexagon | Equipment | Manufacturing |
| Hexagon CMM & Metrology | Equipment | Manufacturing |
| Hexagon Global CMM | Equipment | Manufacturing |
Tax treatment of Hexagon 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 Hexagon 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 Hexagon equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance Hexagon 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 Hexagon 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 Hexagon CMM?
Yes. Lenders review the quote and the shop's financials.
Can metrology software be included?
Some lenders include software and training on the quote.
Do customer quality requirements help?
Yes. Contracts requiring certified inspection support the case.
Can a CMM be financed with CNC machines?
Yes. Lenders can finance a full production upgrade.
Can I finance a used CMM?
Some lenders will, with calibration records.
Can installation be included?
Some lenders include installation.
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