A funding partner looks at the shop's deposits and the equipment quote.
Cedarstone Business Funding sends a White Plains, NY repair shop's request to funding partners. ADAS targets, alignment racks, lathes and tire machines fit equipment financing; a technician hire, training and parts accounts fit working capital. Floor drains, pits and the shop building itself are property work outside this site.
At a glance
- Automotive repair and maintenance, Westchester County, NY
600 establishments (CBP 2023)
- Establishments in the code with fewer than five employees
412, or 68.7% (CBP 2023)
- Paid employees in the code, county
2,869 (CBP 2023)
- Establishments in the code at ZIP 10601 addresses
9 (ZBP 2023)
Auto shop financing in White Plains, NY: brake lathes, tire machines and wheel balancers
The machines that keep a general repair shop's bays turning are the first items on many equipment quotes: an on-car or bench brake lathe, a tire changer, a wheel balancer and a set of jacks and stands. Each one carries a dealer price and can be financed through equipment financing, with the machine itself securing the agreement.
New floor drains, shop doors and changes to the electrical service are building work outside this site, whether the shop owns the building or leases it.
County Business Patterns places 600 automotive repair and maintenance establishments (NAICS 8111) in Westchester County, NY for 2023. The code covers general mechanical and electrical repair, body and paint shops, oil change shops and car washes.
Auto repair business loans in White Plains, NY: scan tools, battery testers and training costs
A modern shop pays for software as well as steel. A professional scan tool comes with a subscription for updates, and battery testers and battery maintainers are bought outright. The scan tool and testers are equipment; the update subscription is an ongoing cost that belongs with working capital.
Training costs follow new vehicle systems: courses for a technician working on hybrid systems, ADAS calibration or new diagnostic software. Those courses, and the time a technician spends in them instead of on billable work, are working capital needs. Wired vehicle chargers on the property and any EV charging station installed on the building are building work outside this site.
The 600 establishments in this code reported $156.3 million in combined annual payroll for 2023 (CBP), a figure for the whole code across the county.
Auto shop equipment financing in White Plains, NY: what auto repair shops compare
Equipment financing and a lease handle the same machine in different ways. A shop can compare them on four points:
| Point | Equipment financing | Equipment lease |
|---|---|---|
| Who owns the machine during the term | The shop, with a lien until the last payment | The leasing partner |
| At the end of the term | The lien is released | Hand the rack back, extend, or buy it on the lease's end-of-term terms |
| Used equipment | Can be financed with a dealer invoice | Depends on the leasing partner |
| Several vendors on one request | One agreement per quote, or a term loan | Set by each leasing partner |
A shop can also put two quotes side by side and ask each partner for the total cost of the term, not only the payment. The lease amount is set by the leasing partner, so this page shows no lease figures.
Mechanic shop business loan in White Plains, NY: ADAS targets, alignment racks and tech hiring
ADAS calibration is the newer line of work: windshield cameras and radar sensors have to be aimed again after a windshield replacement, an alignment or a collision repair. The targets, stands and software are equipment; the bay space they need is the shop's own.
Illustration only, invented figures: a White Plains, NY shop prices an ADAS target kit at $24,600, a four-post alignment rack at $18,900 and a scan tool at $5,500, $49,000 in all. With $4,000 down, $45,000 is financed at 9.5% a year for 60 months: $945.08 a month, $56,704.80 over the 60 payments, $11,704.80 of it interest.
Tech hiring is the cash side of the same heading, also invented: $16,000 of working capital at 13.75% a year over 12 months to carry a new technician through the weeks before the added bay time pays, at $1,434.71 a month, $17,216.52 in total and $1,216.52 of interest.
A freestanding alignment rack is equipment. Anchoring it into a new slab or cutting a pit is building work outside this site.
Collision repair financing for auto repair shops in Westchester County, NY
Collision repair adds its own tools: a frame straightening bench and measuring system, a spot welder, a plastic repair kit and paintless dent repair tools. Those are equipment a partner can finance. A paint booth is a building system outside this site.
Cash timing in collision work depends on the insurer. A shop orders parts and pays its technicians while it waits for the adjuster to sign off on a supplement or release payment, and that wait is a working capital need.
Records a funding partner can ask a repair shop for:
- Business bank statements showing customer and insurer deposits
- The equipment quote for the alignment rack, ADAS kit or frame bench
- Parts supplier statements and the shop's terms with them
- The lease on the shop and its remaining term
- Equipment loans and leases already being paid on lifts or tools
- Business tax returns for the repair shop
Nonemployer Statistics counts 569 automotive repair and maintenance businesses with no paid employees in Westchester County, NY for 2024. ZIP 10601 addresses held 9 employer establishments in the code in the 2023 ZIP Code Business Patterns.
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