With the wait times on new equipment being lengthy, in some cases up to 12 months; the secondhand market is booming. The market for secondhand equipment is competitive, many times goods are snatched up in just hours. Whilst this is great news for the vendor, it can be tricky for prospective buyers to navigate the competitive field.
So how can we help?
We can arrange a pre-approval for you, allowing you to shop with confidence. This way when you find the equipment you are wanting, you can put your hand up knowing that we have the finance for you sorted.
What is the process of a pre-approval?
We work with your individual situation, looking at roughly what you are wanting to purchase and we work with our 40+ lenders to find you the best rate. Pre-approvals are easy to gain and generally we won’t require too much information from you to get it underway.
What equipment can you get a pre-approval for?
If the equipment is used in your business, we can finance it. You can get pre-approvals for new or used equipment no matter the age. We can obtain pre-approval for dealer or private sales, giving you more options to look at when searching for equipment. In most cases, pre-approvals last up to 90 days which will give you the breathing room to find the perfect new addition for your business.
Are there any other options?
Of course! We have a multitude of options available to help you break into the secondhand market easily. Another option may be a sale/buyback. This is something that is super helpful if you don’t have a pre-approval in place and find the perfect piece of gear. Many of the financiers that we work with will actually “buy” an asset off of you and then finance it back to you. In effect, this means that if you were to find the perfect gear to suit your business, you can pay cash for that equipment and we can arrange finance to put that cash back into your pocket. You then make regular payments to “buy back” the asset. This is a great way to get the gear you want immediately and free up your cash flow later. Generally we have up to 30 days to arrange a sale/buyback.
Contact us if you are looking at purchasing secondhand equipment for your business and we can help explain all of the options that are relevant to you.