After telling your customer the price of the equipment you want to sell them have they asked, “Do you offer financing?” Well, do you?
Companies that finance equipment tend to buy 25% more than if they paid cash. Whether you sell construction equipment, ag equipment, high tech equipment like hardware and software or even office furniture partnering with a responsible equipment leasing firm will help you sell more. How? Here’s how…
- Anticipating customer needs- If you answer, “yes,” when that customer asks about financing it shows you’ve thought about what THEY need. Customers appreciate when the people they buy from have thought of everything.
- Less “sticker shock”- It’s easier for a customer to swallow a payment for their equipment lease as opposed to the full dollar amount of the equipment.
- More options than a bank- Banks have specific boxes they check when it comes to equipment financing and if your customer doesn’t fit in that box due to credit, equipment type, years in business, dollar amount, etc. then they’ll get declined. That could mean a hit their credit and wasted time. Many equipment leasing firms (including Archstone) not only fund their own transaction but have established, formalized relationships with banks, investors, fund managers, and debt sources that specifically deal in equipment leasing and financing transactions.
- Control- If you can provide the customer with what they need when they want it if will give them less of chance to shop around or discuss their equipment needs with consultants and advisors that may introduce another equipment vendor.
- No Risk- You’re not an equipment financing company so why bare the burden and risk of extending terms. Put it in the hands of experts who understand lending risks and availability of capital.
It’s a competitive market out there so tilting the table in your favor is necessary. Take advantage of partnering with a reputable equipment leasing firm to boost sales and keep your customers coming back. There are even options for joint marketing campaigns. For more information get in touch with us on our equipment vendor page.
