Commercial equipment dealerships must be prudent about their decision in choosing equipment financing partners.
While some larger dealerships are big enough to offer their own in-house financing, there are tons of smaller dealers throughout the U.S. who need a financing partner they can trust.
Choosing a great financing partner means more customers, happier customers, more inventory moving off the lot, and more money in your pockets.
After all, the financing phase of the equipment sales process can make or break deals. Far too many customers walk are either rejected, get a better deal somewhere else, or they turn away when they see bad financing terms presented.
On the other hand, choosing a great financing partner means more customers, happier customers, more inventory moving off the lot, and more money in your pockets.
In this case, the question which must be raised is, “What makes up a great equipment financing company and who fits that description best?”
Anatomy of the Perfect Equipment Financing Partner for Dealers
There are several key attributes that must exist in a financing company to make them the perfect fit for equipment dealerships.
#1: Customer First Focus
Most smaller financing firms and the big banks and credit unions have cumbersome processes that are time-consuming. Beyond that, they’re values are to maximize their own profits, sometimes leaving your clients holding the proverbial ‘bag.’ They want dealers to serve them and are often rigid in how they partner with dealers.
CFF is different.
We have a desire to help end-buyers/clients with the best overall programs that meet the needs of each customer FIRST.
This points to the CFF Core Value #3 – “CFF always recommends the program that benefits our client before benefiting us.”
This core value needs to be agreed upon by our dealer partners as well. The dealer who is only interested in selling their equipment vs. providing the best possible options for their customers is probably not a good partnership fit with CFF.
#2: Seamless Financing Process
Big banks and credit unions have clunky financing processes filled with redtape. Plus, few financing companies offer a truly seamless, integrated process for dealerships.
CFF offers an actual ‘white-label’ financing process that, in effect, feels like your very own finance department with your valued customers.
In fact, CFF handles all of the paperwork for you. From the application to the documentation to the funding, CFF does it all so you can focus on selling more equipment.
#3: Fast Financing
If time kills deals, speed wins them. Your customers need to secure commercial equipment to get it in the game, making money. Funding with the big banks can take as long as 7 days or more. They don’t have days to wait around while the big banks deliberate over whether to fund the darn deal or not!
That’s why CFF has pioneered the fastest, easiest process in the industry. We can get loans approved in as little as 2 hours and deliver funds in as little as 24 hours.
Some financing companies have more fees than are reasonable. They invent new ways of taxing borrowers to legally steal their money. Your customers will look bad at you if your sales team presents a bad deal to them. You and your customers deserve better.
Our payments are affordable and we offer zero-money down options so customers are happy. Because we are so competitive, your buyers don’t look elsewhere.
#5: Personal Touch
You’ll be hard pressed to actually get a real human being on the phone with the big banks, and by human I don’t mean the operator’s voice when you dial their 1-800 number. At CFF, our loan experts want to talk with you and your buyers. While most bankers are too busy for you and just send emails, the CFF loan experts are on the phone helping you close your deals.
We’ve created a seamless, integrated financing program that leaves a great impression with your team members and customers.
And if all that didn’t make it an easy choice to choose CFF, then this should tip you over the edge. Download the DEALER PARTNER STARTER KIT [dealer page] We’ve created a seamless, integrated financing program that leaves a great impression with your team members and customers.
In fact, our partnership program looks and feels like your own with:
- Credit Application (white-label .pdf)
- Marketing Flyers (white-label .pdf)
- Check List of Required Docs
- Online App Embed Code Provided
How to Qualify for CFF’s Dealership Partnership Program
At CFF we pride ourselves on working with carefully selected dealers from around the United States. We look for partnerships vs. mere transactional relationships.
Our best dealers fit the following profile:
- Established, with an inventory of new and/or used transportation equipment, including:
- Semi-trucks & trailers
- Tow trucks
- Box trucks
- Light / Medium duty fleet vehicles
- Construction equipment
- Sell equipment of a broad range of brands and year models – which are an ideal fit for our “No Age Restriction Truck & Trailer Finance Program.”
- Accept flexible financing options to customers, not just cash-only-deals. Dealers who only offer cash options, will sell less equipment, because not all buyers can or want to pay cash for equipment.
- Must like using the phone. At CFF, we like to talk to people, not just email.
- Like I shared earlier, the dealer must have a desire to help end-buyers/clients with the best overall programs that meet the needs of each customer FIRST. Again, this speaks to our Core Value #3 – “CFF always recommends the program that benefits our client before benefiting us.” If you agree with this, you’re probably a good dealer to partner with CFF!.
Download the DEALER PARTNER STARTER KIT
President of CFF, Matt Manero, gives five steps to help Dealers Sell More Equipment in 2020.
About Commercial Fleet Financing, Inc.: At Commercial Fleet Financing (CFF), our pros have given smart advice to fleet owners and owner-operators in the transportation, moving, towing or construction industries for more than two decades. With CFF, finding the right financing solutions is a phone call away and most borrowers secure commercial vehicle financing with ease. To talk directly with one of our finance pros and get started with a credit approval in as little as two hours.
CFF’s phone number is (469) 281-2962.