Service Help Desk
5981 Tennyson St
Arvada, Colorado 80003 USA
+1 800.525.8248 toll free
+1 303.423.4910 direct
+1 303.430.0139 fax
623 S Service Rd Unit 1
Grimsby, ON L3M 4E8 Canada
866.658.9274 toll free
7 Benefits of Car Wash Financing with Specialty Lenders
Starting a car wash business creates an opportunity for consistent revenue. As a c-store owner,
adding a car wash can generate extra income, among many other benefits. Yet, car washes are
also investments. We at Mark VII understand that investment decisions are critical, and you
can’t get them wrong. We can also help take the worry out of car wash financing through our
lending partners specializing in equipment loans.
Benefits of financing through specialty lenders include:
We’ll support you throughout the entire project: from equipment and installation to marketing,
giving you the best chance to succeed.
What does your car wash loan cover?
Our specialty lenders help you finance both hard costs and up to a certain percentage of soft
costs. Hard costs are tangibles directly related to the car wash system. They include any equipment related to the project:
Soft costs include intangibles such as:
Qualifying for car wash financing
Before acquiring a loan, specialty equipment lenders typically require a personal credit score
above 640. Also, you’ll need to be established within the industry for two to three years. Other
properties you may own or operate can count towards that number. For example, let's say
you've had a c-store for several years and want to add a car wash to a different, newly
purchased property. You’ll likely qualify on the new site because of your total time in the industry.
The 3-step car wash financing process
The car wash financing process typically involves the following three steps:
Car wash financing ranges from two to seven years, with five or six years being the typical term
length. Also, you can borrow on both owned sites and leased sites. Keep in mind, though, that
your equipment loan term must not exceed the remaining term on your location’s lease
agreement. So, for example, if your equipment loan term is for five years, you must have at least
five years left on your location lease.
7 Benefits of car wash financing with specialty lenders
The alternative to car wash financing with a specialty lender is to pay cash for the acquisition.
However, if you decide to take that route, it could take months or years to generate enough
income to ensure a positive return. Another car wash financing option is to borrow from your
bank. However, you could lose capital opportunities and face increased restrictions. But
specialty lenders allow for many benefits, even from day one.
At Mark VII, we’ll show you how to start a car wash business. Whether you’re at the beginning
of your car wash ownership journey or incorporating one into your c-store site, partnering with
the right car wash distributor and manufacturer is critical. We’ll walk with you every step of the
way, taking the worry out of car wash financing. Through our years of car wash industry
experience, we'll ensure you have the very best opportunity to succeed.