For the equipment leasing and financing industry in 2008, economic times were no different than most U.S Industries. The transaction and sale volume as a whole was rapidly declining as we draw to the close of this year. Many lenders, lessor/brokers were either in an illiquid position or possibly out of the business due to the declining economic times.

As gas prices and the rate the federal reserve charges it best customers have gone down, the interest/rate factors charged by lessors have not. The combination of the down payment, the additional lending requirements and the high cost of borrowing money has depressed the leasing industry..

In addition, the lenders/lessors in 2008 have seen record repossessions and they have assumed a tremendous amounts of additional repossessed inventories. These problems combined with the difficult economic times has changed the leasing industry as we have recognized it in the past.... Many lenders have had to focus on their repossessed inventories instead of normal business due to cash flow demands, out of balance credit lines with their own lenders, and competing with other lenders for the small supply of buyers in the market place.

In the prior better times, there were many application only programs up to $250,000 and $150,000. This meant there was no financial statements, tax returns or bank statements required. Today, there are less application only lending programs available, or the available programs require more information and their rate factors are higher than before. Due to problems in the industry, many lenders have gone back to more conventional lending requirements. .

These lending changes have a tremendous impact on normal business for marginal credit buyers, startup businesses. and more mature businesses. One interesting area that has arisen out of this economic downturn is dealer/special financing. With all the repossessions in the market place today, buyers still have an unique business opportunity to acquire a repossession. Repossessions can be obtained with very little or no money down, sixty months to repay, regardless of age, and more favorable financing terms than conventional financing.

Since new business capital is difficult to obtain, it is suggested that the startup and seasoned business examine the repo markets. This could be a rewarding in the combination of both price and financing.

The following types of industries are examples of what we are describing here for equipment leasing and financing construction trucks and equipment, work and commercial vehicles, over the road trucking including semis and big rigs, commercial trailers including flatbed, bottom and end dump, dry van etc and all types of construction equipment, backhoes, excavators, bulldozers, dump trucks, farm equipment, forestry equipment, heavy equipment, garbage trucks, etc

If conventional isn't available to you for whatever reason, please check out the repossession market and see what deals you may be eligible for.