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11/14/2018

Prestige Equipment Testimonial

Even in business, working well with others can help you go far toward achieving success.

Paul Lashin, an owner of Prestige Equipment, one of the world’s largest machinery dealers and auctioneers, attributes much of the company’s tremendous growth to joint venturing and being open to working with other dealers within the used equipment industry. Being an active member of the Machinery Dealers National Association (MDNA) has also been an important contributing factor to the company’s expansion, along with offering financing through CIT Direct Capital.

“You have to move much faster, be nimble, and offer more options,” said Lashin of today’s equipment market. “Financing is a facet of the business which I believe is very helpful in being able to give someone the extra edge to make a deal.”

One of the biggest challenges that Prestige Equipment and other machinery dealers have today is the growth of the Internet and the effect that has had on the marketplace. With buyers having greater access to equipment pricing and other information, the company must be able to offer services like flexible financing that is fast and simple to stand out from competitors. Enter CIT Direct Capital.

“CIT Direct Capital is very quick to respond and takes a hands-on approach. If they’re working the financing end of the deal, we aren’t concerned that our customer is going to get lost in the shuffle or fall through the cracks,” said Lashin.

“It’s important to note,” he continued, “that although what we do is buy and sell iron, our business is really a people business. Having the right relationships with people you can trust is imperative if you’re to have long-term success in our industry.”

It’s Prestige Equipment’s relationships with the account managers at CIT Direct Capital that keeps Lashin and his colleagues from looking anywhere else when it comes to offering financing. He noted that two CIT Direct Capital sales representatives recently visited the company’s headquarters in Melville, New York, to have a large training session with the Prestige Equipment sales team.

“I think it’s that type of personal care and attention that sets CIT Direct Capital apart, puts them in front of the pack,” said Lashin.

“We know we can trust CIT Direct Capital and you know we really consider them family in a sense… and I mean that sincerely.”

Prestige Equipment Corporation, founded in 1990, is one of the world’s leading providers of used machinery, industrial auctions, and appraisals. Mr. Lashin is a past president and current member of the Board of Directors for the Machinery Dealers National Association.

For more information on Prestige Equipment, please visit their website at: http://www.prestigeequipment.com/

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