Some customers prefer Tracked Skid Steer Loaders (commonly known as Posi Tracks) as they can still operate on wet ground. Posi Tracks however tend to wear out quicker than Wheeled Skid Steer Loaders and is important to structure the loan term appropriately.
For instance, in order for a client to be able to trade in the machine and purchase a new one over time, we generally structure the loan term over 36 months with a 30% balloon. This type of loan structure ensures a client has sufficient equity to trade in the machine and hence negating negative equity.
Example Funding Scenario
- An existing client was looking to trade in their current Terex Posi Track machine for a brand new machine
- Purchase Price – $86,000 (gst inc) after trade
- Self Employed for 3.5 years
- Equity in equipment – no
- Director a home owner – yes
- Existing customer so we had application and financial details on file
- No financials required as we could get the loan approved under a replacement policy as client had a loan contract on the Posi Track being traded
- Finance approval given within one day
- The customer replaced the older Posi Track Machine with a brand new one, which gave them piece of mind with new 3 year warranty.
Examples of Posi Tracks we have provided Commercial Finance for are:
To ascertain the approximate monthly payments relating to a brand new Posi Track Machine, please input the purchase price into our Capital Finance Calculator.
In order to proceed further, you can either call one of our Finance Consultants on 1300 788 740 or complete our ONLINE PRE-APPROVAL page of our web site.