Bobcat Equipment South Africa, well-known for some of the toughest machines in the compact construction equipment sector, has teamed up with Merchant West Working Capital Solutions to offer a special financing deal on all new equipment.
The financing is being offered at a zero deposit, in addition to prime interest rate. At the end of the deal, customers have the option of acquiring the equipment for a minimal 6.5% of the original invoice value.
The ‘Zero Deposit’ campaign is aimed at giving customers easier access to earthmoving and compact construction equipment in constrained economic conditions, with financing in particular not being readily available.
“The idea was to provide a financing option for customers whereby they were not required to put any cash down. Effectively this translates into a long-term rental, with an attractive option at the end to buy the machine,” Bobcat Equipment South Africa Managing Director Barry Owen explains.
The financing is available currently at a maximum of 36 months, with 48-month and 60-month options being investigated, Owen reports. “The most obvious benefit is customers are not required to put down a deposit. This is massively attractive, given the current state of the economy and the industry.”
The ‘Zero Deposit’ campaign is aimed at positioning Bobcat Equipment South Africa as being proactive in coming up with solutions for its customers’ requirements. “I hope it will have a significant impact on the industry. It is definitely going to get us increased sales and therefore market share. Whether or not other players adopt similar campaigns remains to be seen.”
Owen predicts that company owners and directors will perceive the value offered by the ‘Zero Deposit’ campaign, as it gives them the opportunity to expand their businesses and be able to access additional market opportunities.
“You have to innovate continuously in this market, and innovation does not only apply to product development. If you can innovate by providing access to cheaper finance, that is absolutely vital. It is a key part of our strategy going forward,” Owen concludes.