If you’re a vendor of high-priced lease return trucks, then you understand that it’s often challenging to close a sale with clients not willing (or able) to pay all the capital upfront.
That’s the reason why as a vendor, you need a vendor leasing program.
Vendor leasing can help in preventing your clients from walking away from your company without making any purchase. That’s because this type of leasing allows your client to use the equipment even without shelling out huge payment.
Having a vendor leasing program is like having a captive finance company. The only difference is that the leasing applications are handled by a separate company.
Vendor leasing program can significantly help you close more sales. Most business owners understand the risk of spending their capital on purchasing costly equipment. Money-wise, they understand the value of leasing their equipment.
Again, a vendor leasing program is a working relationship between you (the vendor) and a financing company who comes up with financial solutions for your customers. Hence, it is immensely vital that you make a partnership with a reliable and reputable finance company.
In this blog post, I’ll talk about how to find the right finance company for your vendor leasing.
How to Finance Your Vendor Leasing
Businesses that operate with pricey equipment and lease return trucks know very well the value of saving their capital for future crisis. They understand that using their capital may put their business in jeopardy.
That’s the reason why they usually reach out to equipment vendor who offers a vendor leasing program. They choose a vendor leasing program that can offer them great financing solutions.
And as a vendor, it’s important that you have a partnership with the right financing company will further improve the vendor leasing program that you’re offering to your clients.
The right financing company won’t just handle the leasing applications, they’ll also give you assistance to help you reach the maximum potential of your business.
Indeed, partnering with the right finance company will be a big lift for your business. But before I discuss more finding the right finance company, let’s first assess your business.
Find a Financing Company
Doing a deep, honest assessment of your business or company is the first vital step to perform prior to finding the right finance company. That is because the qualities and services offered by the finance company should match the needs of your business.
Also, financing companies usually have criteria or requirements for their client. Financing companies often make partnerships with companies or individual vendors that are capable of repaying them. After assessing your company or business, the next thing you’re going to do is to find a reliable financing company for your lease return trucks.
Thanks to the Internet, finding a financing company has never been this easy. You can always do your research to know what financing companies are available in your area, or you could simply ask your colleagues or family if they have a company to suggest.
Upon finding a financing company, you have to assess it very, very carefully.