The role of a dealer in an asset finance transaction is crucial, particularly when selling vehicles, machinery, or other capital assets that are financed through a third-party finance provider. Dealers act as intermediaries between the customer and the finance company, playing both a sales and facilitation role. The dealer’s primary role is to sell the asset to the customer.
The dealer is responsible for:
- Preparing the asset (e.g., pre-delivery checks, servicing, registration for vehicles).
- Coordinating the delivery or handover of the asset to the customer.
- Providing any required documentation (e.g., warranties, maintenance schedules).
- After-Sales Support. Dealers often provide ongoing support after the transaction is complete. This includes:
- Warranty Claims: Helping customers with warranty or repair issues.
- Servicing and Maintenance: Offering regular servicing or other after-sales services to maintain the asset.
- Trade-ins: Supporting customers with trade-ins for future asset purchases, which may involve new financing agreements.