Capital Solutions
Deal Of The Week
First time owner operator and their start up cost
The Problem: Customer Purchases 2005 Kenworth But Needs $10,000 In Start Cash
The truck doesn't do him any good unless he can get the insurance, tags, and fuel to run it. We get these calls frequently. The customer can pay cash for the truck but he needs money for the "soft" cost. Here are the issues:
- Customer (and vendor) want to purchase as much truck as they can with the cash they have available
- This leaves them no money for things like insurance, getting their authority, tags, etc
- Dealer often won't close the sale because the customer knows he doesn't have the money for these items
Here is where you can turn a negative into a positive. By offering cash available you could bring more business in the door.
The Solution: By Using The Truck For Collateral We Can Get Him The Cash He Needs
We were able to use the truck for collateral to get him the $10,000 he needed. This allowed him to pay for his insurance and other soft cost. Here's how we did it:
- We used the free and clear title to the Kenworth as additional collateral
- We were able to overnight him the check the next day
- The check was made payable to the customer so he was able to pay for those items immediately
The dealer would not have been able to close the sale without our help. The dealer was happy and so was the customer.
We are here to help you be successful. Give us a call if your looking to make a change.