When buying used equipment!

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Old August 5th, 2010, 12:43 AM   #1 (permalink)
jenko jenko is offline
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Lightbulb When buying used equipment!

Hello, we would like to say that with todays economy when purchasing used equipment. Our banking system and leasing companies are taking to long to approve or deny loans these days. That being said, could it be possible for you as the buyers already have an approval from your banks or leasing companies. There are a few reasons why. Used equipment can be gone in a heart beat or the seller while waiting for sometimes up to a week or longer gets a call from the potential buyer saying that even with thier good credit score the bank told them they could not do capital loans for equipment at this time or just a flat out NO. We as the seller could have had a deal for that piece of equipment during the week or so for the Bank to say they can't do the loan at this time. Basically, find out what equipment your looking to buy and the general price range for that equipment and factor in all associated cost's like Crating, Freight, if it's an Automatic Teardown fee and set-up cost for tech. These are all true cost's. So, before you contact a seller about any equipment they might have please if your getting a loan try to have it approved by your bank or leasing company. FYI Pre approvals from Leasing companies are to just get you in they can still deny leasing if you havn't been in business for at least 2 years or 2-3 years back income tax paperwork. I know it's a pain in the you know what but if you find a piece of equipment that you find a deal on you could lose it because you don't have that line of credit or loan from your bank ready to go. Just our 2 cents about the buying process.


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