With pandemic restrictions now easing, the calendar of trade shows and the very popular field days is once again filling up for 2022. Over the past month or so there have been a number of large events across many industries including the Australasian Gaming Expo (AGE) for the hospitality sector, the Australasian Waste and Recycling Expo (AWRE) and of course the massive AgQuip 2022 event for the agricultural sector. These events are great for seeing the latest machinery and equipment, but in order to be in a position to purchase, buyers can secure pre-approved equipment finance prior to the show.
Jade Equipment Finance offers pre-approved equipment finance to enable attendees to confidently place orders for new machinery at trade shows and field days. With supply a major problem across many sectors due to global issues around the pandemic and semiconductor shortages, getting in quick with orders can mean a big difference in delivery times. Being able to order on the spot may place operators at the top of the list for delivery of their new equipment when it arrives.
Timing may be critical if that machinery or equipment is required to update and upgrade ageing and obsolete machines which are no longer performing as desired. New equipment can deliver improved productivity and fuel efficiency which can increase output and reduce costs. So considering finance requirements before attending a trade show can be an essential part of the show preparation process.
Sourcing Pre-approved Finance
Typically, most business owners will look to arranging their finance after they have selected, ‘done a deal’ and effectively committed to buying the machinery or equipment they require. That is totally fine when supply of makes and models is plentiful and when businesses are confident they will be approved for a certain finance amount and can proceed to commit without the finance sorted.
But in many instances, that is not the ideal scenario. Pre-approved finance is sourced, quoted and processed through to the approval stage before that buying commitment is made. As the exact price of the machinery is not always known at that stage, an estimate of the finance required is used for the pre-approval loan application.
The benefits of pre-approved finance include:-
- Providing confidence to proceed with a purchase.
- Knowing the amount that the business is approved to borrow.
- Providing a guide or budget for selection of machinery and equipment to meet finance budget.
- Enabling budgeting and forecasting for asset investments.
- Allowing for options and accessories to be included in the purchase up to the approved finance amount.
- Being in a position to place an order at trade shows or on the first visit to a dealer and inspection of the machine to save time and expedite delivery.
- To capture limited supply equipment by being able to make that ‘no the spot’ purchase commitment.
- Provide businesses with firm quotes on monthly repayments for certain machinery.
It is important to note that the types of finance products and the interest rates applicable are the same for pre-approved finance as they are when the finance application is processed after the buying commitment is made.
Interest rates on equipment can vary across different industry sectors. So planning acquisitions with finance based purely on general advertised interest rates on equipment finance may come with issues. The rate actually offered may be different from the rate advertised. The rate and loan conditions also vary with the credit rating and other aspects of the business applicant.
Pre-approved equipment finance eliminates those doubts and question marks by providing a firm quote based on the individual finance application. Pre-approved loans do have a timeframe within which the loan must be activated or used or else the offer expires. If required at a later date, the offer would need to be re-quoted. If the offer is not used prior to expiry, there is no obligation so no problems!
Upcoming Trade Shows
We provide finance to all industries, so we stay across the events in many sectors. Some of the trade shows coming up include:-
- Asia Pacific Oil and Gas Conference and Exhibition in Adelaide, 17-19 October
- Foodservice Australia, Sydney, 23-25 October
- All-Energy, Melbourne, 26-27 October
- Australian National Field Days , 20-22 October, Borenore, NSW
If planning to attend these or any other industry trade show where new equipment will be demonstrated and available to order, consider speaking with us prior in regard to pre-approved equipment finance. We provide workable, cost-effective loans for businesses of all types on machinery and equipment across all industry sectors.
For pre-approved equipment finance, contact Jade Equipment Finance on 1300 000 003 for a quote.
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.
