While not a high volume asset, rapid prototyping equipment has a very large number of commercial applications including metal fabrication, automotive, dental, advertising, airline industry, medical suppliers, architects, and nearly any company that makes or manufactures retail consumer products.
Depending on the make, model, age, and technology, used assets can also be financed, provided that there is an established resale market for the unit in question.
Used equipment will also require a down payment ranging from 10% to 30% compared to new equipment that can be financed at or near 100% of the acquisition cost through insured equipment loan programs and lease financing facilities.
While there aren’t an abundance of equipment financing and leasing companies that will finance this particular type of asset, we do have equipment financing and leasing partners that can and do finance rapid prototyping equipment assets.
If you’ve purchase prototyping equipment via a cash sale recently, then we can still finance the asset after the fact through a loan or leasing program, provided that the purchase was made within the last 6 months from a licensed vendor and you can provide proof of payment.
If you’ve got an item lined up that you want to acquire, the equipment financing process may take a week or more as once again this is not a high volume asset category so the financing companies that do consider these types of deals will likely do a more comprehensive review of the asset and resale market, especially if its a used item.
One of the best ways to get better terms, higher financing as a percentage of total cost, and getter overall rates is to have the manufacturer or dealer agree to help the financing company re-market the asset in the event that they get it back.
This does not have to commit the dealer or manufacturer to repurchase the asset or take over the equipment financing commitment, but it does obligate them to work with the financing company to sell the asset if required.
If you have a piece of rapid prototyping equipment that you would like to get financed, I suggest that you give us a call so we can quickly assess your requirements and provide you with relevant equipment financing options for your consideration.
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