Plug-in and freestanding shop machines, from brake lathes and tire changers to a parts washer and the air compressor itself, are equipment a partner may finance. Air line plumbing, a new circuit and anything anchored into the floor are property work outside this site.
At a glance
- Automotive repair and maintenance, Ross County, OH
27 employer establishments (CBP 2023)
- Fewer than five employees
12 of the 27 (44.4%)
- Auto repair at a ZIP 45601 address
25 employer establishments (ZBP 2023)
- Invented brake lathe and tire changer
$10,910 over 36 months
Credit line uses for Ross County, OH repair shops: tool upgrades and tire stock
County Business Patterns counted 27 automotive repair and maintenance establishments with paid employees in Ross County, OH for 2023, and 12 of them (44.4%) had fewer than five employees.
In ZIP 45601, ZIP Code Business Patterns put 25 auto repair and maintenance employer establishments on the 2023 count.
Shops with no paid employees form a separate count: 72 in Ross County, OH in the 2024 Nonemployer Statistics.
In this invented case, a shop buys $8,340 of tire stock ahead of the weeks it expects to mount it, and $2,690 of cordless impact wrenches and torque wrenches. Drawn on a line of credit for 40 days at a 13.85% annual rate, the invented tire stock costs $126.59 in simple interest; the invented tools can share the same line or go on a short working capital loan.
Financing a brake lathe and a tire changer for Chillicothe, OH repair shops
In this invented example, a Chillicothe, OH shop prices a bench brake lathe at $6,740 and a tire changer at $4,170. For the invented shop, 36 monthly payments of $363.93 at a 12.3% annual rate clear the $10,910 lathe-and-changer quote; they sum to $13,101.48, with $2,191.48 of that as interest.
The invented tire changer runs on shop air and the lathe plugs in, so neither needs anchoring into the floor. If a machine does need to be bolted down or hard-wired, that installation is property work outside this site.
With equipment financing, each machine can back its own request; a partner may ask for the dealer quote and whether the machines are new or used.
Financing an air compressor for a Chillicothe, OH repair shop: the machine, not the air lines
In this invented example, a two-stage compressor with an air dryer is quoted at $5,960.
The invented compressor, its tank and the dryer are equipment. Running hard air lines to the bays, mounting drops and hose reels on the walls, and wiring a new circuit are property work outside this site, so a quote that combines the compressor with the air line installation is worth having split.
Hose reels on a mobile cart and portable air tools stay equipment, since nothing ties them to the building.
A used compressor can be part of a request too. A partner may ask for its age, its hours and who is selling it, and may set a shorter term than it would for a new machine. A lab scope kit, a shop press and a parts statement carried on a line are priced in the garage and tire shop article.
An air compressor and a parts washer: how a Chillicothe, OH auto repair shop spreads the cost
In this invented example, the shop puts the $5,960 compressor and a $3,120 solvent parts washer on one request, a $9,080 total at an 11.95% annual rate.
| Term | Monthly payment | Total of payments | Interest |
|---|---|---|---|
| 24 months | $427.22 | $10,253.28 | $1,173.28 |
| 36 months | $301.37 | $10,849.32 | $1,769.32 |
| 48 months | $238.89 | $11,466.72 | $2,386.72 |
Against the 24-month row, the 48-month one cuts the invented payment by $188.33 and adds $1,213.44 of interest.
Repair shops sit with job sites and plants in the Job sites, plants and garages group on the trades page, and ZIP 45601 counts by sector are on the Chillicothe, OH business loans page.
Lease, loan or credit line for a brake lathe at a Chillicothe, OH auto repair shop
Priced alone, the invented $6,740 brake lathe from above can go three ways.
| Structure | Monthly payment | Payments | Total paid | Cost above the price |
|---|---|---|---|---|
| Lease, 36 months, 10% purchase option ($674) | $222.00 | 36 | $8,666.00 | $1,926.00 |
| Equipment loan, 12.5%, 36 months | $225.48 | 36 | $8,117.28 | $1,377.28 |
| Draw on a line at 14.25% over 8 months | $888.14 | 8 | $7,105.12 | $365.12 |
In this invented comparison, the loan costs $548.72 less than the lease with its option paid, for $3.48 more a month; the line draw is the least in total but needs $888.14 a month for eight months.
The purchase option lets the invented shop hand the lathe back when the lease ends, while the loan and the line both end with the lathe owned outright.
A term loan is the route when a shop's cost is a mix, such as a brake lathe together with a stock of rotors and pads.
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