If you’re in the business of selling large pieces of equipment or technology to businesses, you know that closing a sale with cash is often a tough sell. Often, customers don’t want to go through the hassle of applying for a bank loan, and no business likes laying out a large amount of cash for a purchase that pays for itself over time. That’s where vendor leasing programs come in.
Vendor leasing programs or vendor financing programs make it easier for you to close sales by letting you offer a monthly payment price rather than a lump sum. There’s a reason car dealers promote monthly car payments rather than full cash amounts – as consumers, we think of our finances on a monthly basis, not cost over the life of the purchase. Since equipment and technology are used over time, it only makes sense to pay for the product as its being used.
Here’s how it works. First, your company partners with Crestmont Capital. We create a button for your website that will let your customers apply for financing online or figure their estimated payment instantly. Your customer applies for financing, we respond within one business day (sometimes even the same day), and you close your sale! Your company gets a check for the purchase price up front, and your customer makes payment to us.
Leasing or financing are particularly attractive because it enables the buyer to spread the costs of the equipment over time. Vendors like partnering with us because it lets them focus on doing what they do best – selling equipment, not managing financing programs. Here are some of the key reasons why you should consider a vendor lease program for your sales team.