Preferred Vendor Program
Close More Sales by Offering Financing to Your Customers
If you sell equipment and technology (valued at more than $2,000) to businesses, financing can be a powerful tool to grow sales. There are many important components to a successful equipment financing program, including competitive rates, flexible terms, fast response and great service. Prudential Leasing offers all of these qualities and can help you achieve your financial offering needs.
Generally, when the cost of equipment exceeds $5,000, businesses start to consider alternative options to paying cash. Leasing is particularly attractive because it enables the buyer to spread the costs of the equipment affordably across time while also capturing significant tax advantages. Here are some of the key reasons why you should offer financing on your equipment:
- 80% of businesses lease some or all of their equipment.
- Selling a payment structure is easier than selling a total price.
- Leasing makes existing sales bigger. For example, you can up sell $6,000 for as low as $149 per month, upon approval.
- Selling payments expedites sales. Financing gives customers the power to buy now if they have cash flow limitations.
- Lease payments are a tax-deductible business expense for your customer.
- Customers focus on short term expense versus short term profit, which makes payments more attractive. Financing gives clients the ability to quickly measure profit from the purchase by aligning added revenues generated from their purchases with the monthly finance payments.
- Deferred payment options will give the customer time to get the equipment generating profit before payments begin.