Latest News
Crane Industry Council of Australia Conference 2008
The 2008 CICA Conference is to be held on 4-5 September in Melbourne, Victoria. For more information please click here.
2009 Australian Construction Equipment Expo
ACE prides itself in being one of Australia's largest trade shows for the earthmoving, civil contracting and quarry industries, held every two years. It also attracts visitors from the demolition, farming, forestry, mining, road construction, hire & rental and government sectors. The 2009 Expo will be held at Sandown Racecourse from 26th - 28th February. At the last ACE Expo in 2007 HEFA was again a proud exhibitor, sharing a trade fair stand with Garden Insurance Brokers. For further information please click here.
The HEFA & Garden State Insurance teams
View from above, courtesy: Haulotte Group
Contractor Magazine April 2007
The spotlight was on HEFA in the Contractor Magazine's equipment finance feature. Check out the April 2007 issue for more details.
CivEnEx 2007
CivEnEx Sydney is an Exhibition for Local Government, Public Works and Construction. CivEnEx Sydney is the official IPWEA - NSW Local Government and Public Works Engineers Field Days. CivEnEx is to be held on Wednesday 16th and Thursday 17th May at the Western Sydney International Dragway in Eastern Creek, New South Wales. See more information here.
National Forests & Timber article - HEFA's seven strategies
We were pleased to support the National Forests & Timber magazine, making our editorial debut in the publication's 'Insurance & Finance' feature. Just as we shared our 'strategies for financing equipment' with their readers, here they are for you:
When it comes to arranging equipment finance, we offer our clients seven key strategies to success.
1. Choose the right product
Finance Lease? Operating Lease? Commercial Hire Purchase? Operating Lease? The most appropriate product for your business depends on your tax strategy, the type of equipment you are considering purchasing, as well as your repayment structures. We recommend to our clients that we work together with their accountants to ensure that the finance product and structure meets their objectives.
2. Choose an appropriate term
There is no point arranging finance over a period of five years when your intentions are to upgrade your equipment every three years. Try to match the length of the term with the length of time you wish to keep the goods. This way you will avoid unnecessary early termination costs and charges.
3. Don't just ‘Go to the bank'
Your bank, or any bank for that matter, can only offer their own products. Also, with over 15 lending institutions and financiers available in the marketplace, we consider it prudent to spread your company's exposure (and therefore risk ) outside just one lender.
4. Consider factors other that just the ‘interest rate'
We consider it our role to secure the most appropriate financier to meet our clients' requirements. Whilst a good interest rate is obviously an important factor in the equation, we analyse the lender's establishment costs and approval conditions, and aim to minimise the cost to our clients in the event that they pay the finance out early.
5. Obtain another finance quotation
It costs nothing to request a second finance quote. A fresh opinion and free discussion on your equipment financing methods may prove to be a welcome surprise!
6. You don't need extra security
In order to approve finance, some lenders try to take extra security over clients' other assets. Don't surrender to it! Generally speaking, there is no need for this, as the equipment you are purchasing is sufficient security.
7. Arrange your finance through someone who knows what they are doing and understands your industry
Arranging your equipment finance through somebody who does not understand your business can be disastrous. This only serves to confuse the finance company about your business as well as the equipment you are purchasing. The end result is that you receive an approval full of conditions which you do not want, or worse still, have the finance declined, and this is one reason why we say ‘when it comes to equipment finance, don't get stuck in the muck'.
