Recent Transactions
Here are some recent transactions to give you an idea of how we put deals together. With additional collateral we can get around almost any credit problem. Give us a call if you need any clarification.
Transaction #1
- Equipment Being Purchased: 1998 Cat D5C
- Cost Of Equipment: $27,500
- Down Payment: $5,000
- Additional Collateral: 2000 Case 550G Dozer
Customer had a 490 credit score with recent late payments. There was enough value in his 550G to cover the amount financed.
Transaction #2
- Equipment Being Purchased: Cat 308C
- Cost of Equipment: $45,000
- Down Payment: $8,000
- Additional Collateral: 2006 Cat D5N
A recent bankruptcy keep this customer from getting traditional financing. The additional collateral help put this deal together.
Transaction #3
- Equipment Being Purchased: 2006 Case 580M
- Cost of Equipment: $36,000
- Down Payment: Zero
- Additional Collateral: Equity In His Home
When a customer offers us real estate for additional collateral we usually don't need a down payment. In fact we were able to give this guy $2,000 in working capital on top of the cost of the machine.
Transaction #4
- Equipment Being Purchased: 2005 Deere CT322
- Cost of Equipment: $41,000
- Down Payment: $17,000 in the form of rental credits
- Additional Collateral: 1991 Cat 850D
We love rental conversions. The customer has built in equity from renting the equipment from the vendor. And he has demonstrated his ability to make the payments. Along with the additional collateral this helped overcome his bad credit.