Commercial Trucks & Equipment- Proven Strategies for Private
Sellers to Sell Their Equipment Quicker & More Effectively
Private party sellers need to be creative when selling used
commercial trucks or heavy equipment. Finding a way to eliminate
some of the obstacles when selling privately could be key to your
sale. Learn simple strategies you can easily implement to help sell
your equipment. There is an approach that we use for our customer
base that will get your truck or equipment sold and paid in full
Lease Financial Services
Members of National
Association of Equipment Leasing
Being Creative Has its Advantages
In today's market you need to be a bit creative
when it comes to selling used commercial trucks and equipment.
Private Party Sellers or For Sale by Owners find
they are competing with hundreds of dealers when they list
their equipment in trade magazines or online advertising
sites. The dealer has an advantage over a private party seller
because they are able to provide finance options to buyers.
Most businesses do not have the capital to make cash purchases
to acquire used equipment.
In today’s economic climate
banks and traditional lenders are apprehensive to lend money to
small businesses to purchase equipment, especially from
private or third party sellers.
The banks have no recourse to private party sellers as they would if
equipment was being sold thru a licensed dealer. Dealers have
arrangements thru their captive lenders and can get financing for
their qualifying buyers. This puts a private seller at a great
disadvantage. Even if they priced their equipment lower than a
dealer it still forces most buyers that require financing to go to a
dealer. They are willing to pay more for the exact same truck or
private party seller you can eliminate the obstacle by providing
financing. You can now make your
equipment more attractively priced and have an advantage of selling
over the dealer. Many private party sellers for that reason work
out an arrangement with a dealer on consignment to help sell their
truck. The seller will have to pay a pre arranged percentage to the
dealer for this service. Sometimes as much as 25% commission on a
Going it Alone Can Cost You Time & Money
If you were able to work with
an experienced finance provider that specialized in arranging
financing to private party sellers it would help sell
equipment faster. There should not be a
charge for this service by the independent finance company.
The finance company already would have the information on the
equipment. Then it would be a matter of a simple and quick
application process to qualify the buyer for financing. Once
the buyer has been pre approved the finance company handles
all the paperwork. No obligation what so ever on the buyer.
Applying Simple Steps to Make it Work
There are a couple of simple steps you must do
in order to make it work. First, qualify a lender that has a long
experience in providing this service. Unfortunately in
today’s economy that could be a very short list willing to
take the risk. That lender must be able to work with both
buyer and seller in a quick and resourceful manner. Next step
is to include the words big and bold
in your for sale ads or listings. Have handy the lenders
personal representative’s phone and contact numbers.
When a potential buyer calls he will ask you about the financing
want to make sure you can give him the right persons name and direct
phone number before you hang up with him. Make sure to take the
buyers name and phone number down as well.
It would help to contact your representative at lender and pass
along this information.
If you are prompt and thorough it can give you the edge over the
competition to help sell your equipment faster.
If caller is interested in your equipment the more time delayed
could make you lose the sale.
Final step is to consider how you are going to
Advertise and expose the equipment for sale cost effectively.
Commercial Equipment and Truck advertising can
get expensive and not always have results. First reaction to
seller when he advertises and does not receive calls is to
panic. Seller will question advertised price and normal
reaction is they priced it too high. That may not be the case
but seller has no other reason why they are not receiving
It could be a number of reasons but working with a
professional representative from a finance provider may give you
some guidance. Many private sellers don’t have the time to market
their equipment properly. There are several inexpensive ad sites as
well as a free online ad sites
that has exclusively private party sellers of commercial trucks &
In closing, by introducing these simple solutions
your equipment can sell quicker and net the private party seller
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Online Resources to Get You On Your Way
listing for Trucks & Equipment you have For Sale:
Partner with a Commercial Finance Company that
Specializes in Private Party Sales