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Removals & storage company - 2003 Volvo FL6E truck with new Shred Tech mounted shredder

Sector: Removals & storage | Value: £28,800
Equipment type: Vehicle | Term: 3 Years

Bathgate funded a 2003 Volvo truck with mounted shredder for a removals, storage and shipping company

  • Shredded_paper.jpgThe proposal came to us via our prospecting of a current customer list for a new joint venture company to Bathgate Leasing
  • This was our first call, and the customer was looking at funding this vehicle and shredder
  • The company was well-established but this was a new venture for them
  • The truck is 10 years old and together with the shredder, not a deal to easily underwrite through mainstream funders - age was therefore the factor in deciding that this was going to be written on Bathgate paper
  • The truck cost £32k + VAT - the deposit of 10% was negotiated in line with the customer's cash flow and this was paid along with the full VAT - the balance of the rentals being over 36 months
  • We were under strict time constraints to approve, sign up and then convert the deal due to the company Director's holiday commitments
  • The deal was converted on time, and the supplier paid by same day transfer