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Equipment Auction Financing

Charter Capital provides equipment auction financing leases and loans that are right for your specific financing needs. Nothing we do is standard.

Equipment Auction Financing

Charter Capital has been one of the most trusted sources when it comes to equipment auction financing. Over the past four decades, we’ve worked with thousands of clients to select and obtain the best equipment auction financing solutions for their businesses.

Here are a few examples of what we’ve helped finance in the past:

Some of our customers

  • Are interested in the lowest rate.
  • Are interested in a specific tax treatment.
  • Want to avoid breaching existing lending covenants.
  • Are interested in the longest term.
  • Are interested in getting reimbursed for equipment they have already paid for.
  • Want seasonal or other cyclical structures.
  • Want to finance software.
  • Want to us to give the seller a deposit before the equipment is shipped.

All of our customers want a fair deal at a fair price and no surprises.

Equipment Auction Financing Tips

An auction can present a small window of opportunity to obtain the necessary equipment for business operations. Maximize the benefits by preparing in advance.

Set a Budget For the Auction

Auctions can be unpredictable. Since competing bidders can drive up the price of the equipment you need, it’s important to have a strategic plan in place. Before you seek auction financing, determine how much capital you are willing to spend to secure your business’s equipment. Be sure to account for shipping and tax fees that accompany auction purchases.

Present this desired amount, and a business plan displaying how the purchases will benefit the business to a trusted equipment financing firm.

Decide Between New or Used Equipment

Many equipment auctions display a mix of used and brand new equipment. Make a list of the equipment you desire. Then, determine which items on the list you would like to purchase new and which you would like to purchase used. Of course, opting for used equipment will be more cost-effective. However, there are certain cases in which new equipment is a better option for a business.

Perform Due Diligence

Though equipment auctions can provide major purchasing opportunities, there is a risk for buyers. Make sure to closely examine any item that you will be bidding on at the auction. The auction house should provide you with the most up-to-date information about the equipment but be sure to take a look for yourself. Read reviews about the auction house and ask around to learn about what past buyers have to say.

The Charter Capital Difference

Working with Charter Capital opens doors to a wide range of financing options. Thanks to our extensive network of lenders across the country, we can bring you flexible financing plans that meet your needs.

From application-only loans to payment structures that align with your seasonal cash flow, experience the many advantages of working with Charter.

Obtaining Auction Financing with Bad Credit

Heading into an auction with insufficient funds could be a waste of time for your business. However, bad credit can make it difficult to secure auction financing. Here are a couple of things to consider if bad credit is holding you back.

One option that businesses with bad credit have is to pivot to alternative financing sources. Rather than seeking auction financing from one traditional lender, try a multi-pronged approach.

You can accumulate a range of capital-generating sources to raise funds. Crowdfunding platforms are great options for innovative startups and small businesses. Online lending services that take into account more metrics than simply your credit score are another option.

The simple yet wise financial advice that businesses should heed is, “Only take out a loan if you can pay it back.” The fact is, taking out a loan with bad credit will result in higher interest rates. So it’s important to proceed with caution and determine whether the business can go without the equipment for the time being. Examine alternatives before deciding to move forward.

Empower Your Business With Charter Capital

We want to do everything we can to help you find the best advice and solutions for your equipment auction financing needs. Our number one priority is our relationship with our clients.

Creating and maintaining that relationship is the most important thing we do at Charter Capital. Contact us today, and we’d be happy to share all the available options for helping you find equipment auction financing for your business’ needs.

Connect with us and apply now