Online used heavy equipment seller IronPlanet has introduced an instant financing option customers can choose before or after making a bid or purchase.
Customers of IronPlanet, GovPlanet or TruckPlanet can now apply for pre-approval for financing before they bid, or they can opt for instant financing through Express after purchasing a piece of equipment. Express is an online lender that specializes in financing equipment for small businesses.
Express has similar instant financing partnerships with online auctioneers Ebay and Proxibid.
IronPlanet says introducing instant financing gives its customers more buying power and more confidence in bidding higher amounts for a machine. The company will continue to offer financing through Cat Financial as well.
“Financing heavy equipment can often be a major hurdle for buyers,” says IronPlanet Currency CEO Charles Anderson. “Our partnership with IronPlanet increases buying capacity for business owners, providing them unprecedented access to the financing they need to continue growing their business. Express makes the entire process easy. Together we get money into sellers’ hands quickly and most importantly get much needed equipment back to work for new owners.”
With the introduction of instant financing, IronPlanet also announced new warranty options from TruNorth and AmTrust. Though Cat Financial offers equipment protection plans on certain equipment for three to six months on powertrain, hydraulics or both, buyers can now choose from truck warranty plans from TruNorth and specialty equipment plans from AmTrust.
These new services join IronPlanet’s IronClad Assurance condition and inspection guarantee and transportation services and free shipping estimates from VeriTread.