Which is Right for You?
When it comes to financing your business assets, you’ve got options. Should you go with dealer finance or work with a finance broker? Here’s a quick guide to help you decide which route is best for your business.
Dealer Finance: Convenience at a Cost
Dealer finance is straightforward. When you’re buying equipment or vehicles from a dealer, they often offer financing on the spot. It’s convenient because everything is handled in one place, but there are a few things to consider:
- Limited Options: Dealer finance usually means working with one or two lenders the dealer partners with. This can limit your choices and negotiating power.
- Limited Structure: Dealers do not always offer tailored terms that meet your unique business cash flow requirements. Their focus is on selling the product, not necessarily finding the right solution.
- Convenience Factor: The main advantage is convenience. If you need equipment quickly and don’t have time to shop around, dealer finance can be a quick solution, but at what cost?
Broker Finance: Working with CrediFlex can offer more flexibility and potentially better terms. Here’s why:
- Access to Multiple Lenders: CrediFlex has relationships with multiple lenders, giving you access to a wider range of financing options which includes different products. This means you’re more likely to find a solution that fits your unique needs.
- Tailored Loan Structure: CrediFlex has access to funders with seasonal/structured options, allowing the finance to be structured over the expected economic life of the asset, as well as meeting your unique business cash flow requirements
- Expert Advice: CrediFlex understand the finance market and can offer tailored advice based on your specific situation. They can help you navigate complex terms and find the right solution for your business.
- Ongoing Support: Getting the finance in place is only the start of the journey. At CrediFlex we believe in building long term relationships, and dedicated to supporting you through all the peaks and troughs that businesses experience. Whether you need advice on refinancing, working capital requirements, or exploring other finance options, we are a trusted partner you can rely on.
Choosing the right financing option is crucial for your business’s financial health. Having a trusted partner like CrediFlex provides access to a wider range of options, expert advice and ongoing support. Get in touch with CrediFlex today and find the right financing solution for your business!
While every care has been taken to supply accurate information, errors and omissions may occur. The information in this blog provides general information and is not intended to be financial advice. You should consult a professional financial adviser before making any financial decision. You are solely responsible for any loss suffered from relying on information in this blog. This blog is for the use of persons in New Zealand only. Copyright in this blog is owned by CrediFlex.
