Equipment Finance News hosts used equipment webinar
Register now for free Oct. 21 webinar on high-end used equipment
Equipment lenders and dealers will come together for Equipment Finance News’ webinar “High-priced used equipment inventory: The no-man’s land of equipment finance” on Tuesday, Oct. 21, at 11 a.m. ET.
Register for the webinar here.
Lender panelists will include UniFi Equipment Finance President John Gougeon and BMO Bank North America Vice President and Relationship Manager Jody Ray.
While OEM incentives including 0% financing and interest-rate buydowns have been effective for new equipment sales, they have also created a bubble in the used-equipment market as late-model machines sit on dealer lots.
In this webinar, lenders and dealers will discuss strategies to offload high-end used equipment, keys to managing late-model used inventory during times of aggressive OEM incentives and depreciation curves with each passing model year.
More than 70% of agriculture equipment dealers reported excess used inventory in the second quarter, largely because of struggles to sell higher-priced late model machines, according to IronAdvisor Insights. Agriculture dealers are struggling to sell equipment above $100,000, according to Sandhills Global.
Meanwhile, nearly 30% of truck dealers reported excess used inventory in Q2, with tight lending standards forcing many operators to buy older, higher-mileage trucks, according to IronAdvisor. Aggressive OEM incentives are “cannibalizing” some used equipment sales in the construction sector, as well.
Check out our exclusive industry data here.
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