Bobcat Equipment South Africa, well-known in the mining and 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.
According to the equipment company, the ‘zero deposit’ campaign is aimed at giving customers easier access to earthmoving and compact construction equipment in constrained economic conditions.
“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,” explained Barry Owen, Managing Director, Bobcat Equipment South Africa.
The financing is available currently at a maximum of 36 months, with 48-month and 60-month options being investigated, said Owen. “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 company explained that the ‘zero deposit’ campaign is aimed at positioning Bobcat Equipment as being proactive in coming up with solutions for its customers’ requirements.
Owen added that the financing would have a significant impact on the industry. He added that it would definitely increase the equipment sales of the company and its market share.
“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.