New Year, New Equipment

December 9th, 2021

Many savvy businesses look at the New Year period as an opportunity to buy new equipment or new vehicles, and there are good reasons why. 

  • A new year gives you the opportunity to set new goals and plan how you will achieve them. New equipment with enhanced capabilities can give your business a productivity boost.
  • You can often take advantage of end of year clearances and New Year sales promotions to secure great deals.

Read on to find out everything you need to know about buying new business equipment or vehicles over the New Year period, so that you can start 2022 off on the right foot.

Reach your 2022 goals

If you’ve been planning your business goals for the New Year, you may have noticed the need to upgrade your equipment. An equipment upgrade can have a positive impact on your sales figures. For example, it can allow you to increase production or streamline processes and efficiency.

Buying new business equipment over the New Year period

Most business equipment suppliers will be keen to maximise their calendar year, half-yearly or quarterly sales, so you might be able to negotiate a great deal prior to December 31.  

If you need new business equipment and it’s available now, it’s also a good idea to grab it while you can. COVID-19 restrictions around the world have caused massive delays to the supply chain. These delays could continue into 2022 for new business equipment that needs to be ordered from overseas.

Buying new vehicles over the New Year period

Buying new business vehicles over the New Year period can be especially smart. Car dealers are always keen to offload the current year’s models before the calendar ticks over to January 1. That’s because the car’s value will immediately drop when it becomes last year’s model. You can take advantage of that by negotiating hard on price if you buy in December, or waiting until early January.

This is especially important given that the price of new vehicles have risen significantly over the past two years due to surging demand and limited supply. Like many industries, the new car industry has been significantly impacted by the global supply chain disruptions caused by COVID-19 restrictions. 

Again, if you see a new business vehicle that would suit your business and it’s available now, it could be a smart idea to buy now rather than place an order and have to wait for a prolonged period. Most vehicle manufacturers are warning of new model supply chain delays continuing into 2022. COVID-19 isn’t the only reason. There is also a current shortage of semiconductors globally, which has forced major manufacturers to significantly scale back production levels. It’s not unusual for new car buyers to expect a six to nine-month wait for orders placed at the moment.

How Asset Finance can help?

If you need new or used equipment or vehicles for your business, asset financing can help you get it without dipping into your working capital or affecting your cash flow. At Earlypay, we can arrange asset finance between $20,000 and $1 million for terms up to 60 months. Eligible applicants can get approved in as little as 24 hours.

Contact us on 1300 760 205 to find out more.

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