Get FinancingCurrencyFinance: Competitive Financing For You & Your Customers
In the fast-paced, competitive world of equipment sales, financing flexibility is a key advantage. That’s why dealers trust CurrencyFinance. The comprehensive financing solution enables your customers to secure financing for all types of equipment, trucks, and trailers—helping to finalize deals faster and keep inventory flowing.
But the benefits don’t end there. If you’re an equipment dealer, you can also use CurrencyFinance to secure loans and working capital to grow your business. Read on to learn more about how it works.
What Is CurrencyFinance?
CurrencyFinance is an easy-to-use financing solution for individuals and businesses seeking funding for expensive assets, including heavy machinery, farm equipment, semi-trucks, and recreational vehicles. Once an application is submitted, the Currency team works with a network of trusted lenders to find loans up to $500,000 with the most competitive rates and terms.
Lenders in the Currency network typically offer financing with low fixed rates and payment terms up to 72 months, often requiring little or no money down. CurrencyFinance utilizes electronic documentation for expedited approvals and a user-friendly experience. Financing options are sometimes available within 24 hours.
It’s free to apply for a loan. Additionally, as a dealer, you incur no additional costs to offer this financing option to your customers.
Currency For Your Business
Dealers, auctioneers, and other businesses routinely use CurrencyFinance to improve their own operations. Lenders in the Currency network offer standard/term loans, working capital loans, leases, equipment finance agreements (EFAs), sale-leaseback financing, and refinancing options.
Need to expand inventory? Upgrade equipment? Cover seasonal expenses? CurrencyFinance offers flexible repayment schedules to suit your financial situation, including annual, semi-annual, quarterly, 90-day deferred, and seasonal options. Assets purchased with Currency financing may also qualify for significant tax benefits via Section 179 tax deductions and bonus incentives.
Key Benefits For Dealers
- Offer point-of-sale online financing
- Finalize sales faster
- Monitor customers’ loan applications
- Obtain financing for your own business
- Get dedicated, professional support
Currency For Your Customers
Whether you represent a large equipment dealer or sell specialized assets like RVs, lawn mowers, powersports equipment, or even aircraft, CurrencyFinance allows you to offer personalized financing options when and where your customers are ready to buy. The streamlined online application process takes just minutes to complete, which often results in faster sales, larger average purchases, and stronger customer satisfaction and loyalty.
That’s not all. Unlike resource-taxing in-house financing, partnering with Currency removes the burden of managing compliance, maintaining loan books, training employees, and handling loan defaults. CurrencyFinance’s comprehensive solution handles the entire process, from vetting customers and loan approvals to collecting payments, all helping you to stay focused on selling.
Key Benefits For Buyers
- Loans up to $500,000
- Financing with little or no money down
- Low fixed rates
- Flexible payment terms up to 72 months
- Electronic documentation for faster processing
- Support from the Currency team of experts
H2: How Your Customers Use Currency
Financing big-ticket items, like wheel loaders, cranes, and semi-trailers, is essential for most buyers. CurrencyFinance has helped thousands of buyers across the U.S. and Canada secure the necessary funding to acquire assets vital to their operations.
CurrencyFinance offers several convenient ways for your customers to apply. They can, for example, click the Apply For Financing button that appears on every listing across Sandhills’ U.S. and Canadian platforms, including MachineryTrader.com, TractorHouse.com, TruckPaper.com, AuctionTime.com, and MarketBook.ca.
When a customer applies from one of your listings, CurrencyFinance launches an online application and automatically fills in details like the make, model, and VIN/serial number from the listing. You’ll also receive an email with the customer’s contact information, allowing you to follow up immediately and finalize the sale.
Alternatively, users can click the Get Financing button on a Sandhills trade site’s top menu or visit GoCurrency.com and click Apply Now to get started. As a dealer, you can also launch an application for your customers and walk them through the process. (Read the “How The Currency Dealer Portal Works” sidebar for details.)
Loan Prequalification Options For Bidders
CurrencyFinance also offers benefits for auctioneers. Bidders interested in equipment for sale in online-only AuctionTime.com auctions or live auctions simulcast via Equipmentfacts.com can pre-qualify for loans through CurrencyFinance.
Prequalifying ensures buyers know their financial limits and avoid overbidding. Buyers who already have specific assets in mind can apply for equipment financing, ensuring they’re ready to go on sale day. CurrencyFinance financing approvals remain valid for 60 to 90 days, depending on the lender.
How The Currency Dealer Portal App Works
The Currency Dealer Portal app in the Sandhills Cloud offers a good example of how Currency streamlines the financing process for your customers. From the portal, you can easily launch an application on behalf of a customer. As the Currency team works with its network of lenders to pinpoint the best financing options, you can monitor the application’s progress through a dashboard in the Currency Dealer Portal app.
The dashboard allows you to quickly view essential information such as the applicant and asset details, the loan type, the Currency rep overseeing the deal, the application’s status, and more. If an issue arises, you and your customer will have the same Currency point of contact for seamless communication.
Free Equipment Loan Calculator
Customers seeking financing for an expensive machine, truck, or trailer naturally want to know how the loan amount, interest rate, and term length will impact their monthly loan payments. To help with budget planning, Currency offers a free, easy-to-use equipment loan calculator. Visit GoCurrency.com, expand the CurrencyFinance menu, and click Equipment Loan Calculator to access it.
To estimate monthly payments, enter the asset’s purchase price, a down payment amount (if any), and an interest rate (typically 7% to 20%). Next, select a payment frequency, loan term, and currency type. The calculator will then display both the estimated monthly payment and the total repayment amount.
Get Started With CurrencyFinance
Visit GoCurrency.com and ask your Sandhills rep today for more details about utilizing CurrencyFinance as your trusted third-party financing partner.
A version of this article first appeared in Sandhills Magazine. You can find current and back issues in the Sandhills Magazine Archive.