What Is Auction Financing and How It Can Help Your Business

Lawyers hold the mallet of honesty and justice. Auction concept.

Purchasing vehicles and equipment vital to the successful operation of your business at auction can be a convenient and affordable option for companies of any size. The scope of brand and types of equipment, vehicles, machinery and ancillary apparatus available at auction might be the most efficient way to get all the resources you need to start, expand, or update your business. But a heavy-duty purchase at auction might require some clever financial strategies. If you need a solution to funding your planned equipment acquisition, auction financing might be an ideal option for you.


Your First Choice for Equipment Leasing in Calgary

First Capital Leasing is a Calgary-based lending company that specializes in equipment and vehicle leasingauction financingsale-leasebacks, and commercial equipment loans. For more than 25 years, we’ve been helping businesses across Canada with their commercial equipment and financing needs, helping them quickly acquire the important tools they need to be successful.

Contact us today to set up a consultation with one of our lending experts, and let’s get you the important equipment you need at a great rate.

Is Buying At Auction Right For You?

If you are considering an acquisition of equipment for your small business or large commercial organization, purchasing at auction might be a great option for you. Sourcing out the equipment necessary to execute your operations through auction channels can offer the opportunity to save a lot of money. The benefits of purchasing through auction are:


      • Selection of equipment from many major brands: Unlike dealers or showrooms, an auction can offer access to a variety of brands and manufacturers allowing buyers to purchase the most ideal models for each piece of equipment.

      • Buy new or used: Auctions will offer brand new equipment from liquidations as well as used equipment from sellers. Reputable auction houses will allow you to test and inspect equipment or will provide certified appraisals.

      • Options for bidding: Buying at auction can offer you the option to attend live, onsite, and pre-bidding (set your maximum bid ahead of time), on online/ mobile bidding.

      • One-stop shopping: Most auctions offer more than just one kind of equipment. An auction could be the source for everything you need for your operation.

    Although buying at auction can be a great advantage to getting your business up and running or to expanding your operations, such a large-scale purchase requires large-scale funding. If you are looking for financial solutions to bankrolling your purchase, auction loan financing could be the right strategy for you.


    How Can Auction Financing Help Your Business

    Tailored solutions for auction financing can facilitate the acquisition of equipment that is vital to your business. Seeking auction financing strategies from a knowledgeable company with vast experience in the auction process will get you a customized plan that can make a big difference to the overall cost of your project. The right financing partner will:


        • Secure the funding you need quickly 

        • Save you time and money 

        • Keep your business running with the right equipment 

        • Provide the benefit of competitive rates 


      How It Works

      If you have decided that purchasing at auction is the best tactic for acquiring the equipment you need, First Capital Leasing is here to support your action with our proven solution to secure the funding you require. Here is the process you can expect:


          • Equipment/Vehicle Selection: Decide which pieces or lots of equipment or vehicles you would like to bid on.

          • Application: Complete our online application, which is instantaneously submitted to our credit team. For existing customers, there is no need to re-apply. Just give us a call and we’ll handle the rest.

          • Approval: Once approved, a member of our team will contact you to discuss your financing options. We will then contact your supplier to arrange for invoicing of the purchase. Documentation will then be provided for your review. 

          • Payment: Upon receipt of all required documentation, our funding team will work on payment remittal to the supplier. We can accommodate any prepayment or deposit terms the seller requires.


        Auction Financing Solutions

        First Capital leasing has been providing auction financing solutions to clients in Calgary and across Canada for over 25 years. We understand that every business has unique financing requirements. Our team has a proven model to assist start-ups, established companies, government, towns and municipalities, organizations large and small access a tailored auction financing plan. Connect with the team at First Capital Financing today and leverage our financing strategies today.


        Can I get pre-approved for financing before the auction? 

        Yes. We strongly encourage our clients to get a pre-approval prior to auction day. Our team will work with you to provide the best auction financing solution. Just provide us with the details on what you are looking to bid on and we’ll take care of the rest.

        Is auction financing just for large-scale, big-budget purchases? 

        No. Our auction financing team can work with companies of all sizes with purchasing plans of any size to secure customized auction financing solutions.

        Can you arrange payment to the auction house? 

        Yes. We can arrange invoicing and payment directly to the supplier.

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