Are you planning to replace your medical equipment?
You can easily replace your medical equipment through medical equipment leasing. But before you can do that, you need to move out your old equipment first.
There are different ways to move your old equipment out of your medical treatment facility. But the most convenient method is usually by selling it. Selling your old equipment not only takes care of its disposal but also gives you money that you can use to acquire new equipment through medical equipment leasing.
However, don’t ever sell your equipment right away. You need to do it strategically so you can get the most out of it.
In this blog post, we will talk about selling and replacing medical equipment. We made this guide so you can quickly acquire new equipment through a medical equipment leasing company.
Used Medical Equipment Selling and Replacing Guide
Selling medical equipment and acquiring new ones through medical equipment leasing is easier said than done. Naturally, medical facilities must use the best equipment to provide the best medical treatment. Not all of them are willing to take old equipment, as a result.
You're going to have a hard time finding a buyer for your medical equipment unless you know how to sell it properly. So to help you acquire new equipment through medical equipment leasing, here's a guide on how to sell your old equipment.
Carefully Picking the Medical Equipment
Before you get medical equipment leasing and financing from a leasing company, you need to find the best leasing company and sell your old medical equipment first.
Before you start selling your equipment, you’re going to sell. Make sure to pick the ones that are completely worn out or no use for your operations.
In addition to that, you must have a goal in selling used equipment. Think of the reasons why you’re going to sell your old medical equipment so you can get the most out of your medical equipment leasing program.
Having said that, decide if you’re selling medical equipment to upgrade or to liquidate your assets. Doing this will help you decide how you’re going to sell your equipment so you can get medical equipment leasing quickly.
Also, make sure to choose your target market before you sell your medical equipment. You must know your target market so you know where or to whom you will sell your medical equipment.
Contact Colleagues or Nearby Doctors
You can sell your medical equipment with the help of your colleagues or nearby doctors.
Contacting your colleagues or nearby doctors is one of the fastest ways to sell your used medical equipment. Word of mouth can help you sell equipment quickly, especially if you have lots of colleagues. They can assure your buyer that your used medical equipment is reliable.
Moreover, most medical equipment is expensive. In fact, that’s why medical equipment finance and leasing is one of the most used options in acquiring medical equipment.
Alternatively, many doctors and other medical practitioners are willing to buy used medical equipment to save their working capital when buying equipment.
Selling the Equipment
Don’t rely only on your colleagues when you’re selling your medical equipment. You should post your own ads as well so you can get your new equipment and leasing medical equipment quickly.
You can post your ads in your local newspaper or on the Internet. Currently, posting ads on the Internet is the best option because you can do it for free. Also, you can reach a lot more interested buyers on the Internet thanks to its global reach.
When advertising used equipment, be sure to disclose issues that can affect its use. This is to avoid charges of misrepresentation later. Make sure too to add the necessary or complete details about your medical equipment such as its price and its model.
Find the Right Price
When you're selling used equipment, you should set a fair price. No one will buy your equipment if it's too pricey. On the other hand, you could lose a lot of money if you sell it for less than it’s worth.
To set the right price, try checking it on the Internet. Look for the common price range of specific used medical equipment.
You can also visit eBay and look for used medical equipment listings. It will give you an idea about the right price of used medical equipment. You can call used medical equipment dealers and see what they would charge you for the same equipment.
Usually, you can sell the used equipment for half of its original price. However, this depends on its condition. If the used medical equipment is still in very good condition, you can sell it for more than half of its original price.
Look For The Right Place to Sell Medical Equipment
You also need to post your ads in the right places, especially on the Internet.
There are many medical practitioners who buy used medical equipment on the Internet. That’s why there are websites dedicated to buying and selling used medical equipment.
You can sell your used medical equipment at the following websites:
Apart from those websites, you can also post your used medical equipment on buy and sell sites like eBay.
You can sell your equipment for parts with companies like PhiGem Parts
Always be Patient
Don’t think about getting medical equipment leasing offers right away. You need to be patient, especially when selling your medical equipment. Once you're ready to buy your replacement equipment you can get approved quickly or get pre-qualified 30 days prior. Most equipment finance options and approvals are good for 30-60 days.
Selling equipment may take time. Also, there are instances when people will inquire about the equipment even though they’re not seriously thinking of buying it.
With that said, be sure to entertain actual potential buyers only. Don’t spend too much time entertaining people on a wide range who are just looking at your used medical equipment.
Also, make sure that you know your medical equipment very well so you can answer your buyer’s questions. You might even get information on it from the manufacturer. This can help in promoting or selling your used medical equipment.
Once you’ve sold your used medical equipment, it’s important to use the money you earned properly. Save it for other aspects of your medical practice or use it to acquire new equipment through medical equipment leasing.
Acquiring New Medical Equipment
You can use the money you earned to buy new medical equipment. But since you only sold the used medical equipment for half of its original price, you might not have enough money to purchase a new one.
That’s why it’s highly recommendable to consider medical equipment leasing and financing solution.
Medical equipment leasing allows you to use pre-owned or new medical equipment without paying huge money upfront. Equipment leasing companies often allow their client to use equipment right after approving their leasing application.
Medical equipment leasing also allows you to return the equipment for a trade in value and roll a new piece of equipment into a new lease options if you need to upgrade.
How to Get Medical Equipment Leasing?
To get the best deal using medical equipment leasing, make sure that you have a good credit score of at least a 650 . Equipment leasing companies often approve your leasing application if you have a good credit score of over a 650. Don't worry, if you have bad credit their are healthcare business finance companies that will still approve your equipment lease application.
However, you can still use medical equipment leasing if you have a bad credit score. Equipment leasing companies like Trust Capital offer medical equipment leasing regardless of their client’s credit score. They have the most competitive programs for the best and weakest credit profiles.
Also, Trust Capital has few requirements for medical equipment leasing, unlike other equipment leasing companies. They often just require you to send them the following documents:
Proof that you’re a medical practitioner in the healthcare industry,
- Completed sales order from your medical equipment and technologies seller.
Furthermore, it’s best to partner with Trust Capital because they understand medical devices, are transparent with their clients and can put a deferred payment plan together for you to recognize ROI sooner with your medical devices. They do not charge their clients with any hidden fees. Consider using a medical equipment leasing calculator to figure out what your lease payments will be and how much you can afford medical equipment to lease.
Final Thoughts on Used Medical Equipment Selling and Replacing
In this blog post, we talked about selling used medical equipment and how you can acquire new ones with medical equipment leasing.
Medical practitioners should replace their equipment from time to time. This is needed because they need to provide the best medical treatment to their patients or providing patient care. To do that, they should operate with the best equipment possible.
However, replacing medical equipment is a challenge for some medical practitioners. That's because most medical equipment is expensive. Fortunately, they can replace the old medical equipment by selling it.
To sell medical equipment, consider selling it to your colleagues. Also, make sure to post your ads in the right places.
When you’ve already sold your medical equipment, be sure to spend your earned money wisely on things that appreciate like hiring more employees or marketing. Then spend little of it to acquire new equipment through medical equipment leasing.
Medical equipment leasing is the best way to acquire new equipment. It doesn't require a huge down payment and you're going to pay for the equipment on a month-to-month basis. The smartest term is 36 months. If you are cash rich then make your monthly payments higher in the first two years and scale your payments down year after year. This is called step down equipment leasing.
To know more about putting together the right monthly payment plan using medical equipment leasing, contact Trust Capital at (866) 458-4777.