A pre-approval gives you added bargaining muscle.

words by Finlease

As confidence is returning in many industries, chances are you may find yourself ready to add or upgrade equipment. What can you do right now to gain the upper hand when the right piece of equipment comes along? More importantly, how can we at Finlease put you in a stronger position?

As Mark O’Donoghue explains, “It’s always a good policy to get your finance pre-approved before you start sourcing equipment. This can potentially put you in a better negotiating position.

So if you find yourself at a dealership or equipment auction ready to make a move, knowing you have a pre-approved amount in place puts you on the same footing as a cash purchaser. You’ll also avoid being in a position of having to accept a supplier’s finance arrangement, which may have many hidden charges built in which inflates the true cost.

Best of all, if you do put in a finance application and get a pre-approval in place, you’re under no obligation to proceed, so it’s a win-win situation.

 

 

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