Why should you utilize the services of a bus & coach finance Australia consultant when you can apply for the loan and finalize the purchase on your own? Well, any entrepreneur with reasonable confidence in his or her management skills can approach lenders and finalize the transaction without any external assistance. However, the right consultant will offer a lot more assistance than merely serving as a middleman between you and the lender.
Is it a Wise Financial Move?
Borrowing money for purchasing a bus is a decision that cannot be determined solely on the basis of short-term income and cash flow. Your business may have done very well for the past six months and buying a bus instead of relying on leased vehicles may seem like a smart move. However, can you really predict that the next six months would be as good as the previous six, if not better?
Your decision should be based on a careful and holistic analysis of the long-term performance of your business. If your business is relatively new, then this factor too must be taken into consideration before finalizing the commitment.
Is it the Most Efficient Move?
Should you buy a bus for your business simply because you qualify for the loan and think you can manage the payments without any hassles? The first and most important factor to consider is whether the decision in the right one for your business. Will it unlock more value for your organization? Or perhaps you can enjoy more benefits by renegotiating the lease with your existing service provider?
A professional with understanding of all aspects and facets of your business can help you with the decision. Carrying out the exercise in the presence of an impartial analyst may be much safer than doing everything in-house.
Are There Alternatives?
Why should you finalize an outright purchase when your existing lease contract can be converted into a hire purchase contract? If existing equipment is in good condition, then converting your lease payments into installments for purchasing the vehicle may be a smarter proposition for your business. This may not be as glamorous as buying a brand-new bus, but business decisions should be determined by core business logic alone.
There is no doubt that you can analyze these factors on your own. However, it would be virtually impossible to assess whether your analysis is accurate or not. Working with a consultant will help you enjoy many benefits, especially protecting your business from the disastrous consequence of a hasty financial commitment. On the flip side, you don’t really stand to lose anything by working with the experts.