Oil Rigs Now
Oil Rigs Now

How to Finance a Land Rig Purchase

Looking for land rigs for sale with financing options? Financing comes from banks, equipment lenders, and some sellers rather than from Oil Rigs Now, so read this page as a guide to lining it up.

At Oil Rigs Now, we specialize in listing land rigs for sale that suit the diverse needs of the oilfield industry. A loan or lease lets a business invest in essential equipment without a large payment up front. We understand the importance of reliable rigs in maintaining operational efficiency.

The oilfield equipment market is competitive, and having the right land rig can significantly impact your operations. Buyers usually finance a rig through a bank, an equipment lender or the seller. Oil Rigs Now does not provide financing; financing requests are passed to Total Drilling Supply. The listed inventory includes a variety of rigs, ensuring that you find the perfect fit for your specific requirements.

Key Facts

  • Certain loans and leases cover the whole equipment cost.
  • Check each listed rig against industry standards for safety and performance before you buy.

Why Buyers Finance a Land Rig

Financing a land rig keeps cash free for operations while you acquire essential equipment. This flexibility helps you allocate resources effectively, ensuring your operations run smoothly. With suitable terms, you can secure a rig that meets your needs without the burden of high upfront costs.

Lenders differ in the credit profiles they accept, so ask more than one before you choose. Our team knows the oilfield equipment industry and will help you compare listed rigs while you arrange funding.

How to Secure Your Land Rig with Financing

  1. Assess Your NeedsDetermine the type of land rig that fits your operational requirements and budget. Consider factors like rig capacity and drilling depth.
  2. Explore the Listings Visit our website to browse the land rigs for sale. Each listing includes specifications.
  3. Contact Our ExpertsReach out to our team at +1 832-912-5843 or info@oilrigsnow.com about a listed rig, and ask the seller or a lender about financing options.
  4. Submit Your ApplicationApply for financing with your chosen lender, providing the documentation it asks for.
  5. Finalize Your PurchaseOnce approved, finalize your purchase and prepare for delivery, ensuring you have everything in place for your new rig.

Frequently Asked Questions

What types of land rigs are available for financing?
Rotary and top drive rigs are among the land rigs for sale, each designed for specific drilling applications. The listed inventory caters to different operational needs, ensuring you find the right rig for your project. Whether you need a small rig for shallow drilling or a heavier unit for deeper wells, the listings cover both.
What are the typical costs associated with land rigs?
Financing options can help spread the cost over time, with monthly payments depending on the rig's price and chosen terms. For a payment plan that fits your budget, compare offers from your bank and from lenders that finance land rigs.
How long does the financing process take?
The financing process can take anywhere from a few days to a couple of weeks, depending on the completeness of your application and the lender's requirements. To expedite the process, ensure you have all necessary financial documents ready when you apply. Your lender can tell you what it needs.
What should I look for when choosing a land rig?
When selecting a land rig, consider factors such as the rig's capacity, drilling depth, mobility, and the specific requirements of your drilling projects. Additionally, evaluate the financing options available to ensure they align with your budget and operational goals. Our experts can assist you in making an informed decision based on your unique needs.

Why Choose Oil Rigs Now

Choosing Oil Rigs Now means partnering with a team that has extensive experience in the oilfield equipment industry. Our commitment to customer satisfaction and expert guidance sets us apart from the competition.

Based in Houston, Texas, we serve clients across the United States. Contact us today at +1 832-912-5843 or email info@oilrigsnow.com to learn more about how we can assist you.

Ready to Find Your Perfect Land Rig?

Contact us now about a listed rig, and line up financing with a bank or equipment lender that suits your needs.

Contact Us Today →

Or call us directly: +1 832-912-5843