Tight budgets, low capital remains, fixed wages and costs, and limited inventory are some of the problems that companies in the automotive industry face during their early stages in the industry. There is not enough capital to purchase the necessary automotive equipment and tools. This leads to leasing the equipment they need as a viable solution. Traditionally, to secure financing on automotive equipment, businesses would need the services of an equipment leasing broker. However, these services are complicated and inefficient, and businesses end up spending more than they should. It hikes the total leasing rate by almost 15 to 20%. What if you could provide your customers with a solution that cuts out the middle man and saves them time and money?
Online automotive equipment leasing
With growing technology and online automotive equipment leasing becoming more and more popular, it is now possible to replace the services of a traditional equipment broker when automotive equipment suppliers onboard with FaaStrak. By implementing FaaStrak’s automated leasing solution to your website you are sure to make your customers happier as they’ll receive the lowest rates and your business will close more deals. The reason automotive equipment leasing via a traditional broker is inefficient is that they only have a few lending options. This puts you and your customers in a tight spot and with inflated rates that line the brokers pocket, everyone loses, but that broker.
Direct automotive equipment leasing works differently. Once you are onboard with FaaStrak our algorithm analyzes each of your customers’ unique situation and comes up with the best lender match, every time. There are two immediate benefits that you and your customer will enjoy with this perfect match: first, the leasing rate will be the lowest because the portal checks the financial condition of the customer and then provides the best lender option. Secondly, the customer is also matched with the lender with the highest rate of approval. That’s what is called a win-win!
Another exclusive benefit that you will enjoy: when customers are happy with the low lease rates and high chances of financing approval, deals are closed quickly. As a result, you will close more deals, and your customers will be delighted because they get a tailor-made leasing service without compromise.
FaaStrak’s automated automotive equipment leasing solution has emerged as an industry disruptor and is vastly improving the cash flow flexibility of many businesses. There is no need to tie up working capital to purchase or update a piece of equipment or tool, especially now that there are much better options. A lease does not involve a down payment, and this is a massive benefit to any small business looking to grow alongside the automotive industry. There will be significant cash in hand to focus on purchasing inventory, making payroll, and the payoff of other more immediate business expenses.
If you’ve already experienced working with a leasing broker, you know how complicated and tedious that process can be and the limited leasing options you and your customers have. FaaStrak is eliminating the need of traditional leasing brokers. Other businesses in the automotive equipment leasing industry are immediately jumping ahead of their competition after on-boarding with FaaStrak.