It seems every decision a business owner makes has financial implications. Should we expand our fleet? How? Should we save up cash in a mattress? Buy, finance and depreciate? Lease? Well, The Driller can’t answer these questions for contractors. That’s all between them and their bankers, CPAs and bookkeepers. But, we spoke to Mac Nehring of Civista Leasing & Finance to get readers a few financing trends and ideas to think about if they have “expand our fleet” on their to-do list.
A. Probably the biggest headline, which will surprise no one, is changes, right? Everything’s changing. Costs are changing. Prices are very volatile on equipment. Things that used to cost $150 grand a couple months ago now cost $200 grand. You know, changes like that. I don’t think it’s a surprise to anyone that the rates are pretty volatile as well. They’re moving up and down pretty quickly from week to week, month to month. So I think my number one headline would be, there’s a lot of change. No one has a crystal ball of what’s coming.