In today’s unstable economy, the startup and seasoned business has an unique opportunity to acquire an attractive deal for off leases and repos for commercial trucks and construction equipment. Due to a contracting economy, many lenders have excess inventories on their books that they need to put back on the street. These in-house inventories are non income producing, therefore putting pressure on the lender to make a deal with the consumer. These deals can be found in the price, the financing or a combination of both.

An off lease commercial vehicle and/or construction equipment has been returned to the lender as the lease has expired. The lessee has made a decision to return the item in lieu of exercising the buyout option. A repo has arisen due to a default of the lessee for non payment terms or a violation of the terms of the lease. Either way, the lender has taken these trucks and/or equipment back and now must recondition the items and either sell these items or re-lease them. The lender will either advertise their inventory through their internal sales force or outside professionals such as brokers to move their inventories as quick as possible. Sometimes as these inventories either sit or whatever reason aren’t moving, the lender may put these items up for auction.

For this article, the type of items we are going to identify as potential off lease and repo deals are the following:

Dump trucks, flatbed trucks, grapple and landscape trucks, fuel and lube trucks, bucket and boom trucks, over the road and day cabs, water trucks, tow trucks, box vans and straight trucks, dry van and reefer trailers, end and bottom dump trailers, flatbed trailers, backhoes, bulldozers, crawler tractors, forestry equipment, excavators, forklifts, and other type loaders.

Some of the ways the startup and/or seasoned business can locate these deals are through trade publications, surfing internet search engines, contacting lease brokers for information and speaking to lenders directly.

Some of the lenders in the market have advertised personal credit qualifications as low as 575, prior bankruptcy rules amended or ignored and startups welcome. Additionally, the front money to commence the lease can start as low as first payment to whatever you might able to negotiate.

In conclusion, this is a buyers market for commercial trucks, trailers, and construction equipment. Check out all the deals in the market and make sure that you have a stable income base to assume whatever debt that you may occur. Happy hunting for your acquisition and related financing.

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The theft of construction equipment is big business for criminals that have access to international shipping. In the past year law enforcement officials have found large dump trucks completely buried in South Florida by thieves who were waiting for their ship to make a port of call at Miami. In one case a check of serial numbers found that all the equipment being used by a construction company was in fact stolen. Whenever the company needed a piece of equipment they would just drive up to a nearby construction site and load it up and truck it away.

The cost of insuring construction equipment has steadily risen as a result of equipment losses. Some companies are fighting back through the use of GPS auto tracker technology. GPS tracking devices are becoming smaller and smaller allowing them to be hidden. Unlike the Lojack system that uses short range radio signals to help police locate stolen equipment, GPS tracking devices can be located in just about any location with a clear view of the sky and many cases inside building.

If you have equipment at multiple worksites and need to manage your equipment resources then GPS auto tracking technology will help you. New GPS tracking units will not only give the location of each piece of equipment but also tell you when it is being used and for how long. You can also monitor the status major mechanical systems as well. A simple check of your data base will tell you how many hours you have on each unit thereby assuring that proper maintenance is scheduled and completed. All of which will protect your valuable investment.

Real time GPS tracking is accomplished through the use of a GPS tracking device that is attached to your equipment in a hidden location. Information from this device is then uploaded to a GPS tracking service provider either by cell phone or satellite phone systems. The service company then provides your company with the tracking information that is displayed on your company computers.

In the advent that you lose track of a piece to equipment you can immediately located it. In addition you can apply geo fencing features that will send an alarm to you and law enforcement when your equipment leaves its assigned area. You can quickly stop the loss of your equipment and also the loss of income due to equipment downtime due to the loss. Finding a replacement for a key piece of equipment will take time and time is something that you cannot replace.

Protect your valuable equipment resources through the use of GPS auto tracker technology. You may find that your insurance company will be able to give you significant discounts when you use GPS tracking technology to protect your valuable equipment. You will not only save money but also peace of mind knowing your have control of your construction equipment 24 hours a day.

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