Selling Financing

Sell More Equipment and Earn More Money with TimePayment Financing

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Why offer leasing?

Equipment dealers, vendors, wholesalers, resellers, and manufacturers sell more equipment when they offer financing to their customers. While equipment types and industries vary, the success of closing more business when using financing remains the same. TimePayment has over 30 years of experience helping equipment sellers with our services and advanced financing technology that approves more equipment buyers, so you win more sales.


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Tips on Selling Financing

Always sell the monthly payment, not the equipment price.
The best sales reps always sell using a monthly payment as it takes the attention off the price tag! Buyers often get sticker shock, and it’s easier to think about monthly payments that fit into a business’s monthly cash flow. It’s harder for the customer to justify the equipment price through just a features and benefits pitch. Use monthly payments in your sales efforts to minimize the price shock. Selling this way also allows you to keep higher gross margins as it requires less discounting.

Control the sales process from start to finish.
More equipment sales are won when financing is offered at the beginning of the sales process. Without financing, you can only provide a lump sum payment option, if the customer can’t afford that they might leave to talk to their bank about securing a loan. Weeks, possibly months later, the bank has finally approved them. Customer’s turned down by a bank will often look to your competitors that offered them equipment financing.

Bring up financing early in the conversation.
If you wait until the end, you could be wasting time on prospects that can’t qualify for financing or pay cash. Also, if you bring it up early, you can keep enough margin in the gross margin to pay for finance promotions that could close the deal.

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Financing as Part of Selling

Ask your buyer three key questions: 

  1. Do you plan on financing your equipment purchase? (Starts the equipment finance discussion on the front side of the sale.)
  2. How long do you plan on using the equipment? (Lets you know the term of the finance contract).
  3. What do you typically do with old equipment when purchasing new? (Tells you if they need a  Fair Market Value (FMV) instead of a Buyout Lease financing if they typically trade it versus or sell it).

Include a monthly payment on every equipment quote

Including a finance quote on every deal tells your customer know that financing is available. Also, if you get the credit application submitted before the customer leaves it shows their level of commitment and increases your control over the deal.

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Use financing to retain your customers

Happy customers come back and over and over to buy more (and send their friends). Purchasing will be a more positive experience with customers when you save your customers countless hours searching for financing. If the question of how to pay for the equipment is an easy upfront decision, the purchasing process is much more enjoyable customer experience.

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Industry Solutions

Chances are, if you need equipment for your business or home, we’ve financed it. Click the link below to learn more about the benefits of offering equipment financing for your industry.


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Frequently asked questions

How do I become an authorized TimePayment Vendor?

Submit an Online Broker Application for approval. We will respond with a decision to your application within 48 hours of receiving your application.

How long does it take for a Vendor to be approved?

A Vendor Application will be processed within 2 business days. Once a Vendor is approved, a welcome letter is sent out by our credit department.

Are there fees involved?

No, there are no signup fees of any kind to join our VendorProgram and offer your customers a TimePayment Monthly Payment Financing options.

Why was my application to become an authorized TimePayment Vendor declined?

Contact Credit Services at 877-868-3800 x1611 to discuss your specific circumstances with a representative. You may simply need to submit additional documentation to TimePayment for your application to be approved.

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