People understand the value of a good offering, particularly when it comes to a large financial decision. Let’s face it, in our personal lives we don’t just purchase a car from the first dealer that we engage or at times borrow from the first lender that is offering us a rate on a mortgage. Good offerings don’t come around too often, but when they do it is essential to act quickly.
There are many options to consider when making large capital purchases, but have you been presented the right offering and does that financial package fit your business needs? When working through capital purchases make sure that you fully understand what is covered in the terms. Here are some questions to consider when you are negotiating through a transaction.
- Are there lease options available? If so, what type and what term?
- Are extended warranties available?
- Is the first year of preventative maintenance included?
- Can the first payment be delayed?
- Are volume discounts an option?
- Are there price discounts on ancillary products needed to operate the device?
Also, when it comes to upgrades to a medical device, make sure you understand the full offer. Don’t be surprised by hidden costs! Many times manufacturers don’t disclose the additional expense incurred to operate a piece of equipment in years 2, 3, 4, and so on, especially when working with additional software and software upgrades. This type of expense is often considered to be reoccurring and many forget to consider them when making a final decison.
Remember, take time, do your research, trust and know who you are about to buy from, and if the terms and conditions of a transaction feel right, typically they are right. Remember, “You have not because you ask not”.