Capital Solutions
Deal Of The Week
This deal involved two different dealers
The Problem: Customer Wants To Purchase A Truck From One Dealer And A Trailer At Another Dealer
This is a very common scenario. It's not really a problem per se but it does require special documentation. It also shows how flexible we can be with our financing alternatives. Here are some of the issues:
- How to prepare the documentation. There are two dealers with two different pieces of equipment so the deal has to be doc'ed accordingly
- Delivery and acceptance. This is common verbiage in documentation. We have to get squared away on when delivery is taking place
- Two checks will have to be cut and delivered to the dealer at the appropriate times
We have had as many as five dealers involved in the same transaction. Everything from multiple pieces of equipment to repairs, there are many reasons why this can come up.
The Solution: Proper Documentation Will Solve All Issues Regarding Multiple Dealers
We have had dealers doing repairs on the subject piece of equipment. They want the cost of the repairs included in the price of the truck. As long as we know going into it we can do the deal. Here's are some other points:
- We get invoices from both dealers so we know who we are paying. Dealer is paid through cashiers check or wire
- Dealers are paid BEFORE their equipment leaves their lot
- The customer enjoys one monthly payment for both pieces of equipment. He has one lease to pay on
This is a great opportunity for dealers to help up sell each other. Every truck dealer should have a relationship with a trailer dealer to they can compliment one another.
We can be very flexible in providing commercial truck financing. Give us a call on your next project.