Get Ahead of Rising Rates
The Federal Reserve hiked interest rates for the first time since 2018. In general, a rate increase is good for savers, and we may see some drops in prices of consumer goods. But the hike is not so fabulous for borrowers.
The quarter-point boost on March 16 could be the first of as many as six increases this year, according to Federal Reserve Chairman Jerome Powell. The Federal Reserve uses the benchmark interest rate to regulate the economy. Elevated interest rates have a ripple effect on virtually all borrowing costs for businesses, industries, and consumers. The more expensive it is to borrow money for equipment, homes, and vehicles, thus slowing commerce and battling inflation.
Gain peace of mind with fixed-payment finance and lease agreements knowing that they have protection from rising rates. Fixed payment options provide affordable financing for equipment while preserving cash for daily operations. If you have future equipment needs or upgrades, we suggest arranging your finance options soon.
As with many of the lease and finance choices offered at Northland Capital, there are multiple options for customized terms to coincide with the seasonality of cash flow. Stay on top of the ever-changing interest rates and avoid not keeping enough cash on hand. It’s good to have options, let’s find one that’s works best for you.
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