BUY WITH CONFIDENCE
Guaranteed Buy Back
Guaranteed buy back
Ultro Plant and Equipment understand that the machine you buy is more than an expense. It’s your essential business asset, it’s the tool you use to make your income and it needs to have value when you are ready to upgrade or renew. Sany is relatively new in the Australian marketplace and is yet to prove itself in the resale market. We know that assurance of your resale value when that time comes is essential. That’s why, we created the “Guaranteed Buy Back”.
Why a Guaranteed Buy Back works for you!
The “Guaranteed Buy Back” comes from the Ultro promise to give you a minimum amount for your machine at the end of the term of your warranty or hours. This simply means you will have a minimum dollar value back for your machine. You can sell it yourself and achieve a higher price, or we will give you a figure at the start that we will pay for it at the end of your time with that machine.
You can use that dollar value as your deposit on your next SANY machine or we can give it back to you as a cash amount. Either way this is guaranteeing your position in 5 years or 5000 hours’ time.
How does it work?
At the time of purchase, you’ll be asked to choose a excavator, loan term, deposit amount (if any) and agree on the number of hours you expect the excavator to do before the end of the term. We’ll then guarantee the minimum percentage % value of your new excavator, otherwise known as the Guaranteed Buy Back (GBB), to be applied at the end of the warranty period, provided that Ultro or approved service agent has serviced the machine for that period using “Original Sany Parts”. This can then be used as a deposit on your next new Sany machine or can be used as the final balloon payment on your loan (subject to fair wear and tear and the estimated hours being met). When your term is up, you’ll have the flexibility to trade, keep or return your excavator as needed.
Non financed machines can also have a GBB agreed at the time of purchase, and is premised on the buyer turning the machine over on a new SANY machine purchase. Anything separate of the above will be termed as a “Trade In” and receive a fair value offer based on all factors that extend to all standard trade in processes.
What if I go over the hours?
An excess hours usage adjustment will apply if, at the end of the term, if you have used more than the agreed end hours meter. This will be deducted from your Guaranteed Buy Back (GBB), which then becomes your adjusted GBB. Excavator Service must also be maintained by Ultro/SANY approved service agent and logged for accurate records as per SANY Global recommendations.
What if there is moderate to extensive damage can I still claim the “Guaranteed Buy Back”?
If your excavator doesn't meet fair wear and tear guidelines, Ultro/Sany Finance will give you the opportunity to have the excavator repaired. Otherwise, Ultro/Sany Finance can organise the repairs and deduct the cost from your Guaranteed Buy Back (GBB). This adjusted GBB will then be the price that Ultro/Sany Finance will offer you if you return the excavator at the end of your term. Of course, if you keep the excavator, the condition won’t matter; however, if you trade it in or sell it privately, the condition will obviously impact your sale price.
Who Decides on the Guaranteed Buy Back Value and how is it calculated?
Ultro/Sany analysts set the Guaranteed Buy Back (GBB) based on what they estimate the excavator will be worth by the end of your loan. This is done through sales results of similar excavators, new model data and economic factors, with your loan term and agreed end hours meter factored in.
Is this a Lease?
No. If you enter into a Ultro/Sany Access Consumer Loan Contract or Ultro/Sany Access Business Machinery Loan, you own the excavator and Ultro/Sany Finance will have a security interest over it.
What happens at the end of the term?
When your loan term ends, you have the choice of three flexible options:
- Trade for a new model - If the trade-in value is higher than your outstanding loan balance, you can put the difference towards your new Machinery.
- Keep your Excavator – Simply pay the remaining balance owing on your loan, or we can help you refinance that amount, if you don’t have the cash on hand (conditions apply).
- Return your machine to Ultro Plant and Equipment – Ultro/Sany Finance will pay you the Guaranteed Buy Back agreed at the start of your loan, (subject to fair wear and tear and agreed hours meter being met) and put it against the remaining balance owing on your account. You’ll just need to let us know what you would like to do around 180 days before your Machinery loan term ends.
Terms and Conditions apply
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