Vendor Finance Programs
Geared Asset Finance is a specialist Vendor Finance Partner for Suppliers of all Equipment types. We finance your customers rather than them having to pay cash for your equipment.
From the Vendors point of view - this is the same as a cash sale. Once finance is approved and documents have been signed with the client, you will receive full-payment for the supply of your products.
Geared has a wide-spread and longstanding portfolio of vendor partners who we have setup a finance program for so allowing them to successfuly use finance as a sales aid tool and significantly improve their sales.
We have vendor programs in the areas of:
How does a vendor finance program work?:
- Geared Asset Finance will proactively become the vendors 'Out-sourced Finance Department'
- We can quote and follow up on your clients, complete applications and documents, obtain credit approval and have you paid.
- We can also implement a 'Point of Sale' finance process for you to take control of the finance.
- All the necessary 'Tools' are provided to the Vendor - such as finance quote calculators.
- All Sales-Staff are trained on the Finance features and process.
- Online login Vendor Portal for client management.
- Plant & Equipment
What are the benefits of a vendor finance program?
- Break the cost of your equipment down to a daily or monthly rate. This is a good way of allowing the client to clearly see the cost and benefit of the equipment - per day.
- Provide an overall Turn-Key solution to your client in having a finance partner available.
- Possibly transform the cost of your equipment into an 'Operating Cost' through using a rental product. This means that you open up the clients potential spending budget to make it an easier decision to purchase. This reduces the need for Capital Expenditure.
- Speed up the Sales-Cycle by solving the client's problem of trying to pay for the equipment.
- Take the focus away from an invoice price and rather onto the monthly payment.
- Stay in control of your clients after the initial sale while keeping them for 'life'.
- Improve the overall Profit Margin on your sales.
- Use Finance to secure your sale.
Skilled finance staff to manage your clients' finance
We have staff who are trained to use finance to secure your equipment sale. It's like having another sales member in your team.
We find that suppliers see are marked increase in their successful conversion of leads by utilising finance to solve the clients buying problem. Quoting a finance repayment also provides a clear means to present the month to month economic benefits of your equipment to the montly cost.Apply now