eBay provides financing for construction equipment

eBay now offers both online equipment auctions and instant financing for the machines purchased on its site. eBay’s business website, eBaybusiness.com, announced Feb. 23 a partnership with Direct Capital that allows it to offer financing packages.

“With so many small businesses using eBay to save money on equipment purchases, everything from networking gear to bulldozers, the ability to finance those purchases is a powerful benefit for our business equipment buyers and sellers,” said Jordan Glazier, general manager of eBay business.

Several financing options are available, as long as the equipment is priced at $2,000 or more. Buyers should complete an online application and, once approved, will be able to purchase items on eBay up to their specified financing amount. Buyers can apply before they bid or after the item has been won, but eBay advises seeking financing before placing a bid. If a bidder receives pre-approved financing but does not win a specific piece of equipment, he or she can still use the financing line toward other equipment purchases on eBay. If the item is won, financing is applied toward the equipment and Direct Capital will remit to the seller, via PayPal, the purchase price of the item.

Florence Kalilikane of Rays Rental, Kaukakakhi, Hawaii, says eBay financing helped make buying and paying for equipment easier.

“Within one day, we got approved for financing and won an eBay auction for an excavator,” Kalilikane said. “The transaction was simple and secure. We were even able to add the shipping costs into our monthly payments.”

In addition to the financing services available, Direct Capital prescreens sellers to make sure their auctions are legit and provides inspection checks to ensure the quality of the equipment being sold.

eBay’s business site has had increased popularity over the past year. In 2003, the site sold an average 550 items in the construction category a day, ranging from construction tools to earthmoving equipment. To search through construction equipment currently at auction, to find out more about Direct Capital’s financing, or to read archived stories about construction equipment on eBay, click on the links to the right.