Having a financing partner has many great benefits for customers and equipment sellers, as it gives a broader range of opportunities for sellers to close deals when customers feel they don’t have the cash to confidently make a purchase.
Customers are often unaware that they have other purchasing options outside of using their credit lines or cash reserve. Mentioning equipment financing to your customer is a great way to remind them that they can still get what they want and do it affordably. Therefore, it’s a great idea to discuss equipment financing when talking about the price of the equipment. By spreading the cost into smaller monthly payments, the customer will be able to visualize how they can budget the expense in, rather than seeing it as spending a good chunk of their cash reserve. It also addresses any financial concerns before they arise and gives your customer a solution to their needs, which can deepen their relationship with you and result in an increased likelihood of a sale.
Cutting costs is a top priority for almost every business. If your customer opposes because they believe equipment financing means they’ll have to pay more for the equipment, remind them that the cost to the company will actually be less.
The revenue generated from the equipment every month will surpass the monthly payment. So not only will your customer will be making more money, but the new equipment is likely to cut other costs incurred from previous lack of equipment efficiency, slow production time, or human error.
As an equipment seller, discuss the pros of equipment leasing to your customer to help them understand why the option is suitable for them. Benefits of financing with a direct lender that you can inform your customer about include;
- A more affordable purchase because equipment financing breaks down the cost into smaller monthly payments
- Customers can get what they need now and start making more money using that equipment
- Customers can leave their bank lines of credit open for other business expenses
- Tax benefits are available on their purchase(s),
- Updating equipment through equipment financing often reduces overall company costs.
Equipment financing goes beyond helping the customer. It helps the sellers as well. Having an equipment financing partner gives sellers an extra sales rep to further reinforce the purchase and aid in completing the sale. This means less work for the seller while keeping them engaged and eager to buy the equipment. American Capital Group provides outstanding benefits to customers and referral partners, and these are just a few reasons as to why sellers recommend us.
- ACG’s team is responsive and timely when there is a question or any assistance needed.
- ACG offers the Lowest Payment, Guaranteed*.
- The customer can apply to see what their monthly payment would be WITHOUT an inquiry on their credit.
- The customer has the option of getting equipment now and not making their first full payment until three months later.
- We work with A-D credit.
American Capital believes in solution-based selling and aims to help you close more deals by providing you solutions for your customers’ needs. In fact, if you have a current customer who needs equipment financing, let us know and we will get you quickly set up in our equipment referral partner program.