Off Lease and Repos Construction Equipment and Commercial Vehicles
Off Lease and Repos Construction Equipment and Commercial Vehicles Off 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 back on the street. These in-house inventories are non income producing, therefore putting 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 repo 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 and 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. Builders include Peterbilt, Kenworth, Mack, International, Freightliner, Ford, Volvo, John Deere, Case, Caterpillar, Kobelco, Great Dane, 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 startups 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.
Happy hunting for your acquistion and related financing.
About the Author:
J.M Luna has over thirty years in the financial field. This includes accounting and taxes, leasing, hard asset money and working capital loans, and commercial lending. U.S Corporate Capital Leasing Group can assist the small and seasoned business in many different types of industries. www.cclgequipmentleasing.com/lease_construction.htm www.cclgequipmentleasing.com/DealerFinancing.htm
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