Business owners may capitalise on savings made when purchasing during EOFY equipment sales by securing their best interest rate finance prior to purchase. Savings on plant, machinery and equipment at mid-year sale prices can be extremely attractive with generous discounts offered by suppliers. But if the financing for the assets is at a higher rate than could possibly be achieved, at least part of that discount is lost.
The entire opportunity to acquire new assets at sale prices may be lost if business owners don’t have their loans secured in time where only limited stock and specific models are available. Buying on sale can deliver significant savings and opportunities for many businesses to acquire assets that may have been beyond their budget at full price. But there are factors and safeguards to consider, to ensure the acquisition and the financing both offer genuine good offers.
As specialist in asset financing, we provide our guidelines when buying assets on sale and the financing opportunities we offer to capitalise on any savings available.
Guidelines to Buy at EOFY Machinery Sales
Mid-year clearances and end of financial year sales proliferate both the retail and business goods sector in June-July each year. The advertising and hype surrounding these events can be intense and create a sense of urgency that may lead to poor buying decisions. Keeping a cool head and following due diligence in buying is important in and out of sale time.
Discounted prices may be offered by a manufacturer and available through their dealers or individual sale events may be conducted by dealers to clear floor stock, such as special offers currently available from JCB. Operators in construction, agriculture and construction can check with the local dealer and search online for mid-year deals on yellow goods, wheeled goods and other machines.
SMEs looking to upgrade computer, tech and AV equipment can find mid-year sales from retailers and B2B tech suppliers. When purchasing entire systems or multiple smaller units, we can usually include the total cost in the one financing arrangement. It may be advisable to order all required hardware, software and other systems from the same supplier at the same time. Check with us first to ensure all the items can be financed in the one loan.
Look for clearance and runout discount deals in equipment sectors which have had sluggish sales results recently. For example, the Tractor and Machinery Association has reported sluggish tractor sales in recent months.
Demo models are often discounted at sale time by dealers. These units can often be highly specified with all extras and accessories. Buyers should consider if they need all those extras and if buying the base model which is not on sale, but at a lower price, is a more affordable and sensible purchase.
Is it a real deal? Avoid scams, especially if buying online. If in doubt, check in with Scamwatch for any updates.
Read closely any terms and conditions associated with a discounted price. That *asterisk does mean something! Potential buyers should find out what it means before committing. The deal may be limited to certain models or certain buyers or have other conditions attached which do not suit the buyer.
Watch the clock! If a special discount offer is due to expire on 30 June, making a verbal commitment and then going away to organise finance may not work. If you return finance-ready on say 3 July, the price may have gone back up to the RRP.
Financing EOFY Machinery Sales Purchases
Buyers can have a sense of urgency when buying on sale with the fear of missing out. When financing is involved, it is time to maintain a sensible and cool head. We act very quickly to source quotes and arrange loans, so we won’t hold you up.
Don’t automatically agree to the dealer’s finance offer without considering your other options, including checking with us.
A typical advertising strategy at sale time is to promote 0% finance. Buyers attracted to this type of offer are advised to check the specifics of the offer and get a quick quote from Jade to compare. Many 0% finance offers are only for a limited time of the loan term. After that promotional period expires, a much higher rate than may have been secured applies. These types of loans may also attract much higher lender fees to compensate for the low interest promotional offer.
No deposit finance is another feature to look closely at. This is not a ‘special’ deal. Many business operators can be approved for financing the entire purchase price of an asset, when they meet lender criteria. We always offer the opportunity for operators to apply for no deposit finance and negotiate with our lenders to best achieve the most suitable outcome.
Timing and availability can be important. Some mid-year sale events finish strictly on 30 June while others may extend into July. Getting your loan approved before heading to a dealership may put you in the best position for securing the model you want.
Financing on all business assets, including goods on sale, is available through Jade with Chattel Mortgage, Lease, Commercial Hire Purchase and Rent-to-Own. Our rates are highly competitive, and loans individually sourced to best meet the specific requirements of the business. Financing for sale items is available to all commercial enterprises including new and small operations.
Loans for Used and Demos from EOFY Machinery Sales
Demo models can offer great value and would be considered new and not second-hand when applying for finance. Dealers may be selling ex-rental machines in their mid-year sale. These units would be considered as used goods and the relevant loan rates and conditions would apply.
When sourcing finance through Jade, our brokers also assist with checks on used goods to ensure the correct ownership, registration and that the goods are not under finance.
To quickly capture your preferred equipment on sale, request a quote or apply for a loan online.
Speak with Jade Equipment Finance on 1300 000 003 for quick action to secure finance for EOFY equipment sales.
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.
" alt="">