North Mill Equipment Finance
10-10 Program: Reduced Pricing and Reduced Down Payment

Customers often prefer used equipment for the simple reason that pre- owned assets tend to be less expensive than newer assets. North Mill's 10-10 program is an incentive for customers to purchase equipment that's brand new or just a few years old.

All things being equal, delinquency and default rates for new and recent-vintage equipment have proven to be more favorable than for older assets. This means, as a lender, North Mill can offer better pricing for this asset category. Moreover, by offering the 10-10 program, North Mill helps you be more competitive as you can offer potential customers the opportunity to purchase new and recent-vintage equipment at better rates.

How it Works

North Mill's 10-10 program is straightforward and designed as its name implies: for new and recent-vintage vehicles, North Mill offers a 10% reduction in rate and a 10% reduction in down payment from our standard rate and down payment guidelines. "New Equipment" is defined as "current year minus two years." For example, for 2019, assets from 2019, 2018 and 2017 are eligible. The company also will increase the financed amount from $75,000 to $100,000 for certain transactions based on the company's credit model. The 10% reduction in down-payment applies to the 2019, 2018 and 2017 models of the various types of equipment that North Mill finances.

What's Needed

North Mill does not require any additional information for the 10-10 program. The company's technology platform, FASTT™, will automatically identify a transaction that's eligible for 10-10. Note that all requirements for application only and the App-Plus™ programs remain in force.

Eligible Equipment

The full benefits of the 10-10 program are available for the transportation segment only. All over-the-road vehicles must have no more than 325,000 miles on the odometer, while medium-duty vehicles, such as pickup trucks, trucks with cranes, box trucks, etc., must have no more than 125,000 miles to be eligible for 10-10. Trailers are not eligible for the 10-10 program.

To learn more about North Mill's 10-10 program, please contact Don Cosenza at or calling 203-354-1710.

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Norwalk, CT 06854
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