LeeBoy
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Mehmi Financial Group helps businesses finance and lease LeeBoy equipment, including pavers, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used LeeBoy units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About LeeBoy
LeeBoy began in 1964, when B.R. Lee and his wife Nelda started building pavers in their garage in Charlotte, North Carolina, according to AEM. LeeBoy makes asphalt paving equipment in the USA.
LeeBoy equipment
LeeBoy pavers, rollers, motor graders and tack distributors are used by paving contractors and municipalities.
How lenders view this equipment
Paving equipment is usually financed as part of a spread. Lenders review hours, screed condition and paving contracts, and how the business handles winter.
Financing LeeBoy equipment
Pavers and rollers are often financed together. Seasonal payments may be available.
How LeeBoy equipment financing works
Most LeeBoy 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.
LeeBoy equipment we help finance
Financing LeeBoy pavers
Asphalt and concrete pavers are financed by paving and road-building contractors. Lenders look at screed condition, hours, and the paving contracts or municipal work the machine supports. Pavers are often financed together with rollers and other paving equipment.
LeeBoy pavers on our eligible equipment list include LeeBoy 8500 Paver, LeeBoy 8510 Paver, LeeBoy 8515 Paver and LeeBoy 8520B Paver.
What lenders check on a LeeBoy paver
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.
All LeeBoy models with financing pages
| Model | Type | Category |
|---|---|---|
| LeeBoy 8500 Paver | Paver | Construction |
| LeeBoy 8510 Paver | Paver | Construction |
| LeeBoy 8515 Paver | Paver | Construction |
| LeeBoy 8520B Paver | Paver | Construction |
| LeeBoy 8530 Paver | Paver | Construction |
| LeeBoy 8816 Paver | Paver | Construction |
| Leeboy Paver | Paver | Construction |
Tax treatment of LeeBoy equipment
In Canada, power-operated movable equipment used to excavate, move, place or compact earth, rock, concrete or asphalt generally falls in CCA Class 38. Confirm the class for your exact asset 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 LeeBoy 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 LeeBoy equipment
Construction: general contractors, excavation and site-prep firms, road builders, utility contractors, landscapers, demolition companies and equipment rental fleets finance LeeBoy 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 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 LeeBoy 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 LeeBoy paver?
Yes. Lenders review hours, screed and contracts.
When did LeeBoy start?
In 1964 in Charlotte, North Carolina.
Can a paving spread be financed together?
Yes. Many lenders finance spreads.
Can payments match the paving season?
Some lenders offer seasonal payments.
Is LeeBoy made in the USA?
LeeBoy says its equipment is made in the USA.
Can I finance used LeeBoy equipment?
Yes, with an inspection.
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