“Used Equipment Leasing Available On Dealer And Private Sales”
Used equipment leasing is a very common financing activity, but one that can be tricky to get completed unless you’re working with an experienced equipment leasing broker.
For instance, you can get used equipment lease financing on items acquired from both dealers and private sellers, but the private seller option will come with some challenges.
Unlike a dealer who is licensed and bonded, which makes them legally responsible and financially liable if something goes wrong with a transaction, a private seller although still responsible and liable, is much harder to hold accountable for issues that may arise after the sale is complete.
So the first hurdle is working with a leasing company that will consider a private sale. An equipment leasing broker can quickly put you in touch with these sources of financing for the type of equipment you have in mind.
The second hurdle with a private sale of used equipment is that the leasing company will require what they call a search and waver process to be completed to make sure that the assets to be acquired are free and clear of any encumbrances.
While a leasing company may be prepared to do this work themselves, most would prefer that an equipment leasing broker bird dogs the process and does all the follow up required from any registrations that come up on a title search.
Without someone on top of this process on a daily basis, the financing can be delayed weeks and even months waiting on waivers to be signed and returned to the leasing company.
Then there is the condition requirements of the asset. The older the asset, the harder its going to be to acquire it from a private seller and then finance it through a leasing company unless you have a considerable amount of capital into the deal.
The deal can also be complicated if the acquisition is coming from a seller in another country most notable Canada or the U.S. Once again, not all leasing companies will be interested in this type of transaction so its going to be important to be talking with one who can.
Used Equipment Leasing Can Require Some Financing Expertise To Complete
So the key point being made here is that its important to understand all the elements of a used equipment leasing request at the outset of the financing and purchasing process so that you can quickly zero in on a leasing company that can help you versus wasting time with a company that will not be able to comply with all the various elements of the transaction.
This is where a proper initial assessment done by an equipment leasing specialist can be invaluable to not only getting financing in place, but getting the deal done in the time you have to work with.
Good used equipment deals do not stay available very long in many cases, so if you need equipment lease financing to complete the deal, you need to make sure that your approach is going to generate the results you are looking for.
If you’re in need of used equipment leasing right now, I suggest that you give us a call so we can quickly assess your requirements and provide you with used equipment leasing options for your immediate consideration.
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