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What To Know Putting Used Equipment Up for Sale

What To Know: Putting Used Equipment Up For Sale

What should someone know when looking to put used equipment up for sale?

To help you put used equipment up for sale, we asked financing experts and business leaders this question for their thoughts. From giving your used equipment a make over to getting it inspected by a third party, there are several great tips to help you put your used equipment up for sale.

Here are seven things to know when looking to put used equipment up for sale:

  • Bargain
  • Give Your Used Equipment A Makeover

Research Similar Equipment On The Market

  • Post Better Photos, Descriptions, And Full Records
  • Price According To Supply and Demand
  • Get A Third-Party Inspection And Advertise It
  • Partner With An Online Auction Company

Bargain

When leasing equipment, don’t forget that you may be able to negotiate when you feel you have a quote worth pursuing from a reputable company. If you get the quote for your lease agreement and a provision that you are not comparable with or something that you want to see added, talk to your contact and see what kind of bargaining position you are in to see those changes be made. read more

7 Wells Fargo Equipment Financing Alternatives For Small Businesses

7 Wells Fargo Equipment Financing Alternatives For Small Businesses

What is the best option to finance equipment? Please share your story of how you have financed equipment in your business.

To help your business with equipment financing, we asked business leaders and small business owners this question for their best tips. From equipment financing specialists to North Star Leasing, there are several tips that may help your company with financing equipment.

Here are seven options to finance equipment:

  • Equipment Leasing Companies
  • Unsecured Loans or Lines of Credit
  • Equipment Financing Specialists
  • Currency
  • North Star Leasing
  • Gordon Flesch Company
  • National Business Capital

Equipment Financing Companies

My company manages campgrounds in various US states. We have been able to finance cabins that our customers can rent out, we have financed a boat dock and a pontoon boat. We have financed the maintenance equipment that it takes to keep a campground operational. We originally talked to our local bank about providing the financing. They couldn’t wrap their heads around it. We met with an equipment leasing company and they were able to find 3 lenders willing to lease us the equipment. read more

What is an Equipment Finance Broker

What is an Equipment Finance Broker? 7 Things Equipment Leasing Brokers Do

What is an equipment finance broker, and how has a broker helped your business?

An equipment finance broker may not be the first person an entrepreneur seeks out to add to their professional network. But, when an entrepreneur needs financing to help secure equipment, a finance broker can significantly help a business.

To help small business owners better under the role of an equipment finance broker, we asked business leaders and entrepreneurs about how a broker has helped their business.

Here are seven definitions of an equipment finance broker, and how they help small businesses. read more

8 Things to Know About Medical Equipment Leases

8 Things To Know About Medical Equipment Leases

There’s certain situations in life where, looking back, you wish you knew more than you did before taking action.

Entering into a medical equipment lease is one of those life situations. It is a good idea to be well equipped with information before signing on the dotted line.

What is one thing companies should know about medical equipment leases?

We asked experts and people who have “been there and done that” for their insights. Here are eight things to know about medical equipment leases.

  • Involvement of MD (Medical Doctor)
  • Know That Your Capital Can Be Reinvested
  • Basic Lease Conditions
  • Long Term Contracts
  • Risk of Loss Clause
  • Required Collateral
  • Down Payment Alternatives
  • Purchase Options

Involvement of MD

When we are asked to finance a piece of medical equipment, the lender always asks if a medical doctor (MD) is involved in the operation of the medical equipment. The MD does not have to be an owner of the business, but it’s helpful when the MD is involved in the operation of the business. read more

Equipment Finance Rates 7 Ways To Find The Best Rate

Equipment Finance Rates: 7 Ways To Find The Best Rate

“What’s the rate?”

It’s the question that everyone always wants the answer to. Unfortunately, there are quite a few variables that make equipment finance rates differ depending on the funding source.

So how can you find the best rate for an equipment financing loan or lease?

To answer this question, we asked equipment financing professionals and business owners for their best tips on finding the best rate.

Here are seven ways to find the best equipment finance rate:

  • Negotiate the Equipment Price First
  • Get Local and National Quotes
  • Develop Long Term Lending Relationships
  • Fine Tune The Credit Score
  • Use Search Formulas and Parameters
  • Negotiate Based On Other Rates You Found
  • Read Never Split The Difference

Negotiate the Equipment Price First

The best equipment finance rate typically comes from vendor finance programs. Typically a vendor will partner with an equipment finance company and come up with a program that provides rates and terms that motivate a customer to make a purchase. One piece of advice, negotiate the price of the equipment first and then talk financing. You want to make sure that the lender doesn’t raise the cost of the equipment just to provide a low financing rate. read more

New-Vs.-Used-Business-Equipment-Financing

New vs. Used Business Equipment Financing: 8 Things To Consider

The decision to finance equipment must address one key decision: new or used?

Every business owner evaluates the pros and cons of new versus used equipment. But, every business owner isn’t an equipment financing expert.

To help in making the decision of whether to buy new or used equipment, we turned to other business owners and equipment financing experts for guidance.

Here’s what they had to say about new vs. used business equipment financing.

Low Financing vs. Overall Less Expensive

This is up to the business owner. Sometimes if you purchase new equipment, the manufacturer will offer 0% down or very low financing. The benefit is new equipment at a very low financing cost. Used equipment has its own benefits as well. It’s likely going to be much cheaper than new equipment and even though the financing cost will likely be higher, the savings between buying new vs. buying used could outweigh the financing cost. read more

7 Things to Know Before The Paperwork

Small Business Equipment Loans: 7 Things To Know Before The Paperwork

For many entrepreneurs, it can be overwhelming to think about all the elements needed to get your business off of the ground. Oftentimes, things like rent, furniture, technology, etc. add up and require a huge initial investment on the owner’s part. Because of this financial burden, many look to small business equipment loans to help give them a boost!

Although these financing options may seem tempting, it is important to ask the right questions before signing any paperwork. That is why we sat down with seven small business leaders and asked them what you should know before moving forward with any equipment loan. Keep reading to learn the tips and tricks from people who were once in your shoes! read more

9 Things Small Businesses Can Finance With an Equipment Loan

9 Things Small Businesses Can Finance With an Equipment Loan

When you think of financing equipment, what do you think of? Forklifts? Cranes? You probably consider all kinds of heavy machinery, but there are other types of equipment you can finance that a small business may use.

To understand what some practical pieces of equipment are that small businesses can finance with an equipment loan, we’ve asked 9 thought leaders to share their recommendations.

Computer Hardware and Software

My company has financed computer hardware and software as well as furniture.  We are not an equipment intensive business, so there are not a lot of opportunities for us to finance equipment.  We have paid cash for computer equipment and furniture in the past, but decided to finance the last time around.  Financing made the decision to go with higher end computers and furniture an easier choice. Of course they are more expensive, but financing them allowed us to spread the cost out over time.  read more

10 Equipment Financing Tips For Startups

10 Equipment Financing Tips For Startups

Running a startup is, in itself, a challenge. You might have minimal experience or be low on funds. You might even need to purchase equipment for your startup. Being new to the world of equipment financing can be daunting, with so many different options and risks to take. How do you know you’re making the right choice?

We asked ten business execs, “What is your best tip for startups who seek financing for equipment?” Below you’ll find advice to guide you in the right direction in the world of equipment financing. read more

8 QUESTIONS TO ASK EQUIPMENT FINANCING COMPANY OTHER THAN, “WHAT’S THE RATE?”

8 Questions To Ask Equipment Financing Company Other Than, “What’s The Rate?”

Are you looking to take out an equipment loan? Financing equipment can be a challenge. Between finding the right equipment and dealing with contracts, there are so many options to choose from. Before you do so, it’s important to have the right information.

We asked eight thought leaders to share which questions should you be asking your equipment financing company other than “What’s the rate?” to ensure you get the best possible deal for your business.

Look at the Monthly Payment

In addition to the rate, the monthly payment is as, or more, important.  Rate is an obvious question and no one wants to pay a higher rate than they have to, but Cash Flow is King.  If the monthly payment works for you, and your ROI is satisfactory, then the financing will make sense for you regardless of what the rate might be. The buyout is very important as well. Is my last payment really my last payment or is there a buyout I have to make after my last payment?  Better to know now vs. knowing later. read more

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