Buying new equipment in most cases may mean a higher balloon payment is available enabling you to purchase a machine that is more suitable for your needs at a similar repayment amount.

Purchasing brand new, may also enable you to obtain greater GST and depreciation benefits. Your accountant or tax professional will be able to assist you in this area.

Always comprehensively ensure your equipment or machinery. Accidents and theft are a reality of life and you will still be responsible for the debt even if the vehicle is stolen or written off. This is besides any damages that may be caused to other people or property.

Insure yourself. Without your ability to earn an income, it may become impossible for you to meet your repayments and ultimately the financed goods may be repossessed leading to long term financial difficulties.

Purchase extended warranties. Your vehicle is one of your biggest investments. An extended warranty will ensure it is always in the best mechanical conditions. With the complexity of today's vehicles, one major repair often costs more than the extended warranty. Since the warranty is transferable, it increases the resale value to potential buyers.

Obtain gap insurance. This insures you for the difference between what you owe on your car or equipmentand what your insurance company may pay out if it is total loss due to accident or theft. This is equally important whether purchasing new or used as many insurance companies will pay only "fair market value" leaving you responsible for the balance repayable to the financier.