Choosing the Best Financing Option for ADT Customers. Ever wondered how construction companies acquire fleets of equipment worth millions of dollars? Jennifer Devlin, Customer Finance and Risk Specialist at Rokbak, provides an inside look into the equipment financing industry and shares tips on obtaining the necessary resources for your operation.
For heavy machinery dealers and customers in construction, mining, and other industries, financing options are crucial to securing the right equipment and expanding their businesses.
While upfront payments are an option, buyers looking to improve cash flow management or those without immediate access to funds often explore alternative financing methods for their equipment needs.
“Equipment leasing and financing offer several advantages for businesses, such as preserving capital and opening up new trading opportunities that might otherwise be unattainable, especially in new territories,” explains Jennifer Devlin. At Rokbak, she investigates various financing options and works to mitigate risks for their articulated hauler customers.
“Solutions from companies like Volvo Financial Services (VFS) – the financial services arm of the Volvo Group – provide financial arrangements allowing businesses to lease equipment for a set period in exchange for regular payments. These options are popular and valuable tools for companies needing one or more trucks, enabling them to acquire necessary equipment without significant upfront costs while maintaining cash flow.”
A Strategic Approach
In recent years, asset financing has experienced significant growth, with companies adopting it as a strategic move to obtain essential equipment and maintain competitiveness. The number of businesses in the UK financial leasing industry grew by 1.3% per year on average from 2018 to 2023. In the US, helping commercial businesses, non-profits, and government organizations acquire equipment has become a US$1-trillion industry according to the Equipment Leasing and Finance Association.
“At Rokbak, we typically use a supplier credit structure supported by our export credit and private insurance partners to help dealers or end-customers secure credit lines,” says Jennifer. “Essentially, we provide alternative finance solutions and offer more options to our customers and dealers.
“A dealer or end-customer may already have well-established bank lines, but finding alternative lines can offer more flexibility and reduce reliance on local markets,” Jennifer adds. “We see customers using their existing credit lines for day-to-day operations and a supplier credit line for their ADT purchases.”
A Personalized Approach to Financing
Today, Rokbak haulers operate worldwide, from America to Australia and Ireland to Indonesia. The length of credit can vary based on regional regulations and factors such as currency exchanges and local market stability. In certain regions, the purchase or leasing of Rokbak haulers can be supported by VFS, which offers a range of financial solutions tailored primarily to customers of Volvo Group’s products, including financing, insurance, leasing, service contracts, and asset management.
“At Rokbak, the financing options we help provide are tailored to each dealer and end-customer by examining individual situations,” concludes Jennifer. “There isn’t a brochure or an off-the-shelf option. Instead, we take a personal approach and assure prospective partners that we are approachable, negotiable, and adaptable. There is always a conversation to be had.
“By exploring a range of financing options, personalized solutions, and ongoing support, Rokbak articulated hauler customers and dealers are achieving their growth objectives and optimizing their operations.” Best Financing Option for ADT