Backhoe For Sale

Lease and Repos for Commercial Trucks and Construction Equipment. Start Ups and Seasonsed Businesses

In today‘s unstable economy, the start up and seasoned business has an unique opportunity to acquire an attractive deal for off leases and repos for commercial trucks and construction equipment. Due to a contracting economy, many lenders have excess inventories on their books that they need to put them back on the street. These in-house inventories are non income producing, therefore this puts pressure on the lender to make a deal with the consumer. These deals can be found in the price, the financing or a combination of both. An off lease commercial vehicle and/or construction equipment has been returned to the lender as the lease has expired. The lessee has made a decision to return the item in lieu of exercising the buyout option. A repos has arisen due to a default of the lessee for non payment terms or a violation of the terms of the lease. Either way, the lender has taken these trucks and/or equipment back or now must recondition the items and either sell these items or re-lease them. The lender will either advertise their inventory through their internal sales force or outside professionals such as brokers to move their inventories as quick as possible. Sometimes as these inventories either sit or whatever reason isn‘t moving, the lender may put these items up for auction.

For this article, the type of items we are going to identify as potential deals for the customer is the following:

Dump trucks, flatbed trucks, grapple and landscape trucks, fuel and lube trucks, bucket and boom trucks, over the road and day cabs, water trucks, tow trucks, box vans and straight trucks, dry van and reefer trailers, end and bottom dump trailers, flatbed trailers, backhoes, bulldozers, crawler tractors, forestry equipment, excavators, forklifts, and other type loaders.

A list to Builders may include Preterit, Ken worth, Mack, International, Freightliner, Ford, Volvo, Western Star, John Deere, Case, Caterpillar, Kobe co, Great Dane, Miller, East, Warren, Dragon, Clement, etc

Some of the ways the startup and/or seasoned business can locate these deals are through trade publications, surfing internet search engines, contacting lease brokers for information and speaking to lenders directly. Some of the lenders in the market have advertised personal credit qualifications as low as 575, prior bankruptcy rules amended or ignored and start ups are welcome. Additionally, the front money to commence the lease can start as low as first payment to whatever you might able to negotiate. Some of the lenders have application only programs up to $250,000. There are no financial statements, income tax returns or bank statements required. In conclusion, this is a buyers market for commercial trucks, trailers, and construction equipment.

Check out all the deals in the market and make sure that you have a stable income base to assume whatever debt that you may occur. Make sure you understand the buyout clauses which may be $1.00, 10%, 20% fair market value or whatever the lease stipulates.

In the great global meltdown we are living through today, any term related to finance and commerce does not sound very nice to the ears. After all, the most common words we listened to (and are still listening to) for a long time were crisis, depression, downturn, recession and bankruptcy. Still, the fact remains that financing is essential if you are looking to buy something for which you cannot pay outright or want to start your own business or a host of other situations. What is necessary is to make sure that the risks linked to the borrowing (and there are always risks) are worth taking.

Equipment Finance Broking Firm

Established in 1990, Melbourne Finance Broking is regarded as one of the most progressive equipment finance broking firms in Australia. With over 40 staff around the country and realising enormous finance volumes (commanding significant buying power), the broking house deals with over 30 of Australia’s banks and lending institutions, including some with exclusive agency.

Heavy Equipment Financing

Each broker or broking team within Melbourne Finance runs their own business specialty. The corporate entity, Heavy Equipment Finance Australia (HEFA), was introduced by one of the teams in 2005 to more accurately signify their heavy equipment financing specialty, as well as better reflect their interstate expansion.

The HEFA team is unsurpassed in its experience and dedication to servicing the industries utilising heavy machinery, including earthmoving, construction, road making, mining, demolition, forestry and agriculture. When they say heavy machinery, they mean any kind of heavy machinery. They finance equipment that is:

New Used Dealer and Private Sale Machinery Import

Whether you are a sole operator or a large company, they are able to assist you. They finance a range of vehicles and equipment, including (but not limited to) the following:

HEAVY MACHINERY, such as excavators, dozers, wheel loaders, cranes, skid steer loaders, crushers, graders, rollers, backhoes, scrapers, logging and harvesting equipment, mining and drilling equipment, concrete pumping equipment and agricultural equipment. VEHICLES, such as cars, vans, trucks, low loaders, road trains, buses and coaches. ATTACHMENTS/PARTS, such as trailers, hydraulic hammers, GPS systems and pipe cameras.

If you want more information on HEFA and would like to check out their range of products and deals, you can visit them at http://www.hefa.com.au .

As the economy has weakened and defaults have occurred at all levels, lenders Have put themselves into a very difficult position how to do business. On one hand, the lender has taken back tremendous amounts of repossessions due to default of payments or non-compliance of terms with the lease. The lessee can’t afford to make payments when the revenue base isn’t there and the costs of doing business has sky rocketed. The lessee has either walked away from his obligation to pay the lender or the lender has taken back the acquisition. Either way, everybody is a loser and the future looks no brighter.

The lender must recondition these repossessed items and either re-lease them or auction them off at a discount. This isn’t a good scenario because the lender is losing time and dollars on every repossession. As this problem has leveraged itself, it has put some lenders into financial crisis. At the present time, some lenders have had to reevaluate their financial models and make dramatic changes. Their normal lending requirements have become more stringent and fewer prospects will now qualify for commercial trucks and construction equipment than one year ago. Many lenders will not lend on new acquisitions unless your personal credit score is above 650, 680 or higher. This has caused a problem on buyer acquisitions but also limited the lenders’ growth which might be his survival. Additionally, financially strapped lenders require time in business of at least two, possible three years. This additional requirement has eliminated a big pool of potential buyers of heavy equipment and trucks.

As the lenders normal credit models have changed, this has caused potential buyers to be cautious and/or nervous of lender’s intentions. Every week, information is in the news pertaining to a bank/lender and for the most part this information is damaging to the lending industry. In some instances, some lenders have transformed itself overnight into a different type of lender.

For the startup business, this has caused them to be almost locked out the trucking and construction industry entirely unless they have a personal credit score of 700 or higher. Additionally, the risk/reward factor that is presented at this level has required the lender to require a 15-20% down payment to consider a startup transaction.

One of the solutions that is available to the start up or the seasoned business without stellar credit is repos offered by these strapped lenders. These trucks and heavy equipment can be attractive to potential buyers because the front money may be minimal and the lender may be more flexible in its financing and credit requirements. This expanding market should be examined by all potential buyers because unique opportunities can exist for all different levels of the customer wants and needs. Seasoned businesses with stellar credit and time in business could be rewarded handsomely in the price, financing or both. .

This following types of work trucks and construction equipment is described in this article:

Dump trucks, bucket trucks, day cabs, concrete and cement trucks, boom trucks, water and vacuum trucks, articulated trucks, garbage trucks, tow trucks, excavators, bulldozers, forklifts, concrete equipment, concrete pumps, forestry equipment, backhoes, etc

In conclusion, when shopping for financing on commercial trucks and construction equipment, it is important that you acquire as much information pertaining to your lender. Times have changed and your contract that you signed must be carefully read and understood. These lenders that exist today may be completely change its lending model in a year or so and/or possibility Be out of business. Boy, times have changed..

Happy hunting for your acquisition and related financing…

As buyers have been disillusioned with higher gas prices, food cost worries and personal housing problems, some of the lenders with these excess inventories have also come up deferred payment programs, As an additional dealer/lender incentive, a down payment is required from the customer but the second payment may be deferred up to 75 days, for a selected inventory group, Check an example below:

Your have access to this great opportunity from a Dealer/Lender on their off lease and repos. Lessees can maximize their earning potential by deferring your first payment after funding for no less than 60 days. Gives the customers an opportunity for even more earning potential in the first months of their lease!

Here’s how it works:

- Lessees choose an asset from the list that is available from the dealer. – Complete all normal documentation for funding and submit it to the lender

Complete a special addendum and submit it as a part of your documentation package. Complete the above steps and you are able to push out their first payment after funding for at least 60 days (up to 75 days, depending on date of funding). Take advantage of this unique opportunity now. To be eligible, the deal must fund by July 31, 2008.

- When you pick up your equipment, you will drive off with a $300 fuel card in their pocket!

Program Benefits for All Lessees and Assets

Waived processing fee – $0 processing fee means only the first payment is required in advance . – Start-ups and challenged credit commonly approved on all equipment types. – All ages and types of companies are eligible for approvals on the inventory, including start-ups and proprietorships for over-the-road trucks and trailers and forestry equipment – First payment in advance only – Documentation and up-front payments must be received by July 31, 2008.* 60-Month Financing for All Ages of Equipment – Extend the term length for lower monthly payments. – Extend the term length for a lower first payment due in advance.

Take advantage of these specials today!

As you see from this example, these concessions could sway the buyer for making a consideration for this program. No payments up to 75 days can be a stimulus to a sagging sales force. Additionally, other lenders are giving away gas cards as well to entice the deals. First Payment Only programs, no payments for 75 days, 60 months to repay regardless of age, favorable buy out clauses, easier credit qualifications, prior bankruptcies waived, additional co-signors ok, and start up businesses welcome are just some of the changes the dealers must consider to get the buyers’ interest.

The type of items we are going to identify as potential deals for the customer are the following:

Dump trucks, flatbed trucks, grapple and landscape trucks, fuel and lube trucks, bucket and boom trucks, over the road and day cabs, water trucks, tow trucks, box vans and straight trucks, dry van and reefer trailers, end and bottom dump trailers, flatbed trailers, backhoes, bulldozers, crawler tractors, forestry equipment, excavators, forklifts, and other type loaders.

In conclusion, this is a buyers market for commercial trucks, trailers, and construction equipment. Check out all the deals in the market and make sure that you have a stable income base to assume whatever debt that you may occur.

Happy hunting for your acquistion.