HiPower Partners with Wells Fargo on Finance Program

HiPower Partners with Wells Fargo on Finance Program

HiPower Systems, manufacturer of power generation and power distribution equipment in the United States and Canada, has launched its new HiPowered finance program. Customers in the United States now have the option to lease or finance HiPower Systems’ portable diesel generators and portable natural gas generators from HiPower Systems or any of its authorized distributors and rental customers.

“Generators are a significant but necessary capital investment, and providing a budget-friendly means to break a large capital investment into smaller monthly payments is a real benefit to our customer base,” said HiPower Systems president Rafael Acosta. “We believe strongly in the flexibility that equipment leasing or financing provides. It makes it feasible for our customers to modernize or upgrade their power solutions when the time is right, without a significant financial outlay. It also enables them to better correlate the hard-dollar costs for the equipment with revenue streams and cost savings.”

To capitalize the program HiPower Systems worked with Wells Fargo Equipment Finance in Lincolnshire, Ill., which has an experienced team that is distributor and end-user focused. The result is a full set of programs with features that include:

  • Standard terms of 12-, 24-, 36-and 60-months provide payment and term flexibility. Longer terms may be possible based on utilization requirements.
  • 100-percent financing with fixed, monthly payments. Companies may be able to take advantage of first-year deductions for up to 100 percent of the equipment cost, up to a specified limit as described in Section 179 of the U.S. tax code (tax situations vary from one company to another and all customers should consult their tax attorneys before signing a lease contract).
  • Once credit is approved, interest rates will be locked in for 90 days, providing a hedge against rate increases and allowing time for desired generator customizations to be completed.
  • Customers that wish to upgrade fleets through early contract payoff may do so with unearned interest being rebated.

Special features of the leasing program include:

  • 100-percent financing with fixed monthly payments including equipment, software and soft costs, with the possibility of bundling incidental costs, such as sales taxes and installation charges into the lease rather than paying them upfront.
  • Once credit is approved, interest rates locked in for 90 days.
  • Operating leases help companies that have exhausted their annual cap-ex budget for the year, but have urgent equipment needs.
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