Miller
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Mehmi Financial Group helps businesses finance and lease Miller 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 Miller units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Miller Electric
Miller Electric was founded in 1929 in Appleton, Wisconsin and makes welding equipment, according to its company profile and Harris Gas.
Miller Electric equipment
Miller welders, engine-driven welder/generators and plasma cutters are used by fabricators, pipeline contractors, farms and maintenance crews.
How lenders view this equipment
Welders are usually financed in packages or with service trucks. Lenders review the quote and the business's financials.
Financing Miller Electric equipment
Engine-driven welders are often financed with service trucks. Automated cells can include integration.
How Miller equipment financing works
Most Miller 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.
Miller equipment we help finance
Financing Miller 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.
Miller pavers on our eligible equipment list include Miller Formless M-8100 Slipform Paver and Miller Formless M-8400 Slipform Paver.
What lenders check on a Miller paver
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 Miller models with financing pages
| Model | Type | Category |
|---|---|---|
| Miller Dimension 652 Welder | Equipment | Manufacturing |
| Miller Dynasty 280 TIG Welder | Equipment | Manufacturing |
| Miller Electric | Equipment | Manufacturing |
| Miller Formless M-8100 Slipform Paver | Paver | Construction |
| Miller Formless M-8400 Slipform Paver | Paver | Construction |
| Miller XMT 350 CC/CV Welder | Equipment | Manufacturing |
Tax treatment of Miller 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. 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 Miller 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 Miller equipment
Manufacturing: fabricators, machine shops, plastics and packaging manufacturers, food processors and contract manufacturers finance Miller equipment to take on new work, replace aging units or add capacity.
Construction: general contractors, excavation and site-prep firms, road builders, utility contractors, landscapers, demolition companies and equipment rental fleets finance Miller 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 Miller 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 Miller welders?
Yes, often in packages.
When was Miller founded?
In 1929 in Appleton, Wisconsin.
Can engine-driven welders be financed with a truck?
Yes. Some lenders finance them together.
Can a pipeline contractor finance Miller equipment?
Yes.
Can plasma cutters be financed?
Yes, usually with other equipment.
Can a start-up welding business finance equipment?
Yes, often with a down payment or guarantor.
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