4 THINGS TO KEEP IN MIND WHILE HIRING A CONSTRUCTION EQUIPMENT FINANCIER IN ADEL

Posted by Greg Samuel on October 16th, 2017

Financing has surfaced as a great alternative to purchasing expensive goods. The fact that someone can lend you funds and you can pay them back over in phases is a big relief for those who have a dire need of something but lack the money. The long-awaited boost is finally here in the construction industry in Adelaide, and all the contractors are gearing up their arsenal to face new jobs head-on. Heavy construction equipment, as useful as it is, is not a matter of affordability – it is a matter of capability to carry out a job on site. Therefore, the option of hiring a finance broker to help you procure the necessary equipment is a feasible solution to your equipment woes. Here are four things to keep in mind while hiring a construction equipment financier in Adelaide.

Requirement #1: Network

Any professional in any field knows the importance of maintaining a network of important contacts that can help him get the job done. A finance broker in the construction industry maintains good relations with money lenders and lending institutions that get ready to invest by just the financier’s word. This is a much-desired attribute a finance broker can have in the construction industry. When you take your proposal to the lenders with a good financier as your go-between, it will help your case.

Requirement #2: Knowledge

The construction industry is forever changing for the better. The financier you are eyeing should be abreast with the market and rates of various equipment. He should be in-the-know of all the latest equipment available, the price difference between older and newer versions of equipment, cost savings in financing vs. purchasing, and all that jazz. He should be able to tell you all other alternatives to acquiring an equipment other than financing, notwithstanding his own profits. The financiers selling only themselves are the ones to steer clear of.

Requirement #3: Track record

How many people has he helped get possession of their desired equipment? Do they have good or bad things to say about him? Testimonials matter a lot because they give you hands-on information about the quality of work you can expect from a financier. Where claims are all high and mighty, it becomes all the more necessary to do a check of his work. Some base is required to put your faith in a person.

Requirement #4: Fee

Financiers usually charge a percentage of the total sum which you want to borrow or which the lender wants to lend. Sometimes they charges only of the parties. Either way, his cut should not stretch your budget any more than you had planned.

Keep these points in mind, and you will never end up with the wrong financier.

About The Author:

Samuel Finance is a leading organisation for commercial finance and mortgage broking. They have a personalised approach to help you achieve a superior outcome for your personal or business finances. They provide finance for business loans, trading, working capital, property investment, development, home loans and more. They always strive hard to be a trusted advisor and deliver an outstanding level of personalised customer service.