Sandvik
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Mehmi Financial Group helps businesses finance and lease Sandvik equipment, including drills, in Canada and the USA. As a brokerage, we compare options from banks, equipment finance companies and alternative lenders for new and used Sandvik units, from dealer purchases to private sales. Approval, rates and terms are set by each lender.
About Sandvik
Sandvik is a Swedish engineering company specializing in mining and rock excavation, rock processing and machining tools, according to its company profile. Its history emphasizes quality, R&D and exports from an early stage.
Sandvik equipment
Sandvik drill rigs, loaders, crushers and screens are used in mining, quarrying and construction.
What lenders look at
Mining and quarry equipment is reviewed on the mine plan or quarry production, component history and hours.
Financing Sandvik equipment
Specialist lenders handle mining equipment; crushing and screening plants are often financed as a spread.
How Sandvik equipment financing works
Most Sandvik 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 Sandvik drill
Lenders look at hours, component condition and the contracts or cutting rights behind the work. Forestry equipment is specialized, so lender appetite and terms vary more than for general construction machines.
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 Sandvik models with financing pages
| Model | Type | Category |
|---|---|---|
| Sandvik | Equipment | Construction |
| Sandvik Drills & Crushers | Drill | Forestry |
| Sandvik Mining | Equipment | Forestry |
Tax treatment of Sandvik 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 Sandvik 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 Sandvik equipment
Forestry: logging contractors, sawmills, land-clearing firms, road builders in resource areas and forestry service companies finance Sandvik 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 Sandvik 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 Sandvik drill rig?
Yes, through lenders comfortable with mining equipment.
Where is Sandvik from?
Sweden.
Can a quarry finance Sandvik crushers?
Yes.
Do lenders review component history?
Yes.
Can I finance used Sandvik equipment?
Yes, with an inspection.
Can a spread be financed together?
Yes.
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