Learn about actual and potential costs
How much should I pay for Equipment Financing Services?
What is the average price of Equipment Financing Services?
This procurement report includes pricing information to help you purchase Equipment Financing Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Equipment Financing Services been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Equipment Financing Services yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Equipment Financing Services?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Equipment Financing Services with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
Among the estimated 13,000 providers of equipment financing services, the top four operators account for less than 30.0% of total market revenue, indicating a low degree of concentration. Compared to larger commercial loans, only moderate capital is required to provide loans for equipment, making it easier for smaller operators to... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Accuracy & Quality Control
How do you ensure the accuracy of your services? How often do you experience problems with accuracy?
What systems, tools or software do you have in place to minimize the number of errors? How often do these checks occur and who oversees them?
When putting together my financing plan, who approves the plan to ensure the interest rate is appropriate and I am capable of making the payments every payment period?
How much consideration do you give customer feedback when making changes to systems and operations?
What percent of business activity is from returning clients?
How often do you provide equipment financing for out-of-state buyers? What forms do you file for such transactions?
How do you stay informed about ongoing regulatory changes?
How have you budgeted for any increases in costs because of regulatory changes? How will such changes impact interest rates and other charges?
Do you have any notices of violations, pending litigation, complaints or suspensions against your company? How have you responded to such filings?
How many collective years of experience does your staff have? How does this compare to the market average?
How do you assign employees to a client? What is the experience of the employees whom I will be working with?
What are the different services you provide to customers of varying sizes?
Does your level of experience and knowledge provide you with any advantages in your market? If so, what are they?
How have you developed efficient practices while still delivering high-quality services?
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Key elements for every RFP
What should my RFP include?
Vendors should include an APR estimate for the loan.
Vendors should specify all other costs (i.e. late fees) associated with the loan.
Buyers should evaluate the extent to which the solution meets their needs.
Buyers should evaluate vendors based on their cost proposals.
Buyers should evaluate vendors' experience and financial performances.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should include the date when proposals are due and any other relevant dates (e.g. final interviews) prior to the contract award.
Buyers should include the date when the contract begins and ends.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The supply chain for equipment financing has a low level of risk. Vendors source inputs from a variety of upstream suppliers, including office stationery wholesalers, copier and office equipment wholesalers, computer and packaged software wholesalers, and the Federal Reserve. Typically, these upstream suppliers provide commoditized goods that can be purchased... Subscribe to learn more.