These emerging and futuristic tech developments will drive leasing and purchasing decisions for years to come.

Imagine paying only for the hours you use your bulldozers or backhoes to build a new shopping center, rather than a flat monthly rate. Or receiving a line-of-credit increase with the press of a thumb to buy more efficient, eco-friendly ovens for the breads your bakery manufacturers throughout your region. These and other innovations may be coming sooner than you think.

Smarter technology in business-equipment design, development, acquisition, and use is providing equipment buyers and lessees with greater access to more information about their equipment than ever before. That’s because the equipment you buy or lease for almost any type of business—whether you run a construction, food processing or manufacturing business, or work in another specialized field—is becoming innately smarter and Internet-connected. Even your equipment-purchasing transactions will become faster and easier, thanks to digital technology tools.

The Paper Chase Winds Down

In 2020, paperless transactions for equipment financing still remain at technology’s cutting edge. Anyone who’s ever leased or purchased equipment knows that it has always involved too much paper. But document-management and security technologies are allowing dealers to send more applications and contracts safely via email, websites and file-transfer systems.1 This means deals can be completed with electronic signatures and documents stored in EVault, which is essentially a cloud-based (and very secure) filing cabinet.2 As these practices become more widely supported, they will speed transactions and provide an easy-to-access “e-paper trail.”

Keep an eye out for future innovation.

For owners looking to invest in new equipment or equipment finance managers looking to reduce their business’s capital expenditure costs, there are other trends to look for in the coming decades:

Smarter hardware (and software) will someday change the market.

Internet connectivity and artificial intelligence (AI) in new equipment will generate usage information, which can be analyzed by manufacturers and dealers.

  • It will lead to better pay-per-use. More equipment deals will be based on a pay-per-use model. For example, instead of making an equal monthly truck rental or financing payment regardless of your usage, instead you would pay only for the hours at the wheel1
  • It will inform product development. Granular usage data will be a valuable tool in shaping future product development. Armed with a better sense of your business’s usage habits, manufacturers and their sales partners can plan upgrades or recommend specialized equipment more effectively1
  • It will change residual calculations. As more data become available, AI will inform the valuation of previously leased equipment.3 Armed with more precise transaction data, lessors and buyers will be better suited to comparison shop for equipment that meets their personal budgets and needs.

Biometrics will eventually simplify applications and contracts.

The same technology that lets you unlock your smartphone with a fingerprint or face scan may eventually replace PDF e-signatures entirely. For example, do you have a sudden need for more equipment? Since your dealer already has your credit info, all you would need to do is enter your fingerprint or smile for the scanner to put the purchase into motion.4

Blockchain-based transactions have the ability to create transparency.

Imagine if you could access all of the information available about the used equipment that you’re leasing or buying. Thanks to blockchain-based transactions, you may be able to access a cloud-based “permanent record” on your potential lease or purchase. Here, you would find everything about its history—previous owners, contract terms, service records, upgrades, hours of usage, etc.5 It would be like an advanced CARFAX file for your business equipment.

Not all of these trends of the future may be available right now, but that doesn’t mean you can’t take advantage of other technologies today. Talk with your equipment vendors about how you can work together toward these advances—while saving money and time in the process.

Want to Learn More?

Contact M&T Bank today to discuss your equipment purchasing options as well as how to best finance your equipment needs. Call 1-800-724-2240 or visit us online.


1 “Five equipment finance trends to watch in 2019” February 13, 2019 Accenture

2 “About Carbonite”

3 “Top 10 Equipment Acquisition Trends for 2019” Equipment Leasing and Finance Association

4 “Imagining the Future of Equipment Finance” May 08, 2018 Equipment Finance Advisor

5 “How blockchain can improve asset lifecycle management” Sep 25, 2018 To-Increase

This article is for informational purposes only. It is not designed or intended to provide financial, tax, legal, investment, accounting, or other professional advice since such advice always requires consideration of individual circumstances. Please consult with the professionals of your choice to discuss your situation.


Share this page

If you are interested in sending this page to a friend or relative, please enter the following:

* Indicates required fields
+ Add another

No personal information (including e-mail addresses) about you or your friend will be collected from this e-mail notification feature offered by M&T Bank.

Please Note:

By clicking "ok" below, you will leave and enter a Third-Party Website.

Tenga en cuenta que:

Al hacer clic en “Aceptar”, abandonará e ingresará en el sitio web de un tercero.

Please note that:

  • The Third-Party Website is governed by a different set of terms and conditions and privacy policy than and you should review those terms, conditions and privacy policy prior to reviewing the content of the Third-Party Website
  • M&T is providing a link to the Third-Party Website as a convenience and does not necessarily control the content of, or endorse, the Third-Party Website, it's owner/operator or any information, products or services that are made available on or through it
  • M&T makes no representations or warranties regarding the information, products or services provided through the Third-Party Website

Such Third-Party Website's owner/operator may be regulated by governmental entities and laws that are different than those that regulate M&T.

Tenga en cuenta que:

  • El sitio web de un tercero está regido por un conjunto de términos y condiciones y una política de privacidad diferentes que, por lo tanto, deberá revisar esos términos y condiciones y la política de privacidad antes de evaluar el contenido del sitio web de un tercero
  • M&T le proporciona un enlace al sitio web de un tercero para su comodidad y no necesariamente tiene control sobre el contenido, o se adhiere, al sitio web del tercero, su propietario/operador o ni a ninguna parte de la información, producto o servicio que se ofrezca a través de él
  • M&T no ofrece declaraciones ni garantías respecto de la información, productos o servicios prestados a través del sitio web de un tercero

El propietario/operador de ese sitio web de un tercero podría estar regulado por entidades gubernamentales o leyes que son diferentes a aquellos por los que está regulado M&T.