What is Finning (Canada)’s Exchange program?
- Finning’s exchange program allows you to “exchange” a worn/used component towards a remanufactured one.
- Our Exchange program is simple. Parts that have fulfilled their useful life and are reusable or repairable (these types of parts are referred to as having a “core value”) are eligible to "exchange" for a remanufactured component.
- Why use our “Exchange” program? Simple … maximum uptime for your equipment. By exchanging your component, you get the benefit of a receiving a like-new component immediately. No waiting for your component to be repaired and your productivity is maximized.
Highlights of Finning (Canada)’s Exchange program
- The Exchange program advantage… quality and availability. Components purchased through our exchange program are repaired to a like-new condition (to our strict standards using OEM Caterpillar parts) and benefits include reduced downtime (as explained above), more parts alternatives, the opportunity to capitalize on the residual value of your core and last but not least, through economies of scale we can offer a premium service at an affordable price.
- All Finning exchange assemblies incorporate the latest product updates and all are covered by a full six-month warranty.
- Finning (Canada) has made significant investments in exchange components to suit a wide variety of models and applications. A selection of our available inventory is listed below.
- We have a vast inventory of powertrain components including engines, transmissions, torque converters, differentials, wheel groups, final drives, brakes and hydraulic and suspension cylinders. This represents over 1,600 assemblies and total available inventory of over $135 million.
- We also feature an additional $15 million in inventory representing nearly 6,500 pieces of smaller parts like turbochargers, fuel pumps, hydraulic pumps, electrical and undercarriage components.
- If the component you are looking for is not available through our Exchange program, we are also proud to carry a broad selection of Caterpillar remanufactured parts and components which compliments Finning’s Exchange product line. For more information on Caterpillar’s options, visit the Caterpillar Remanufactured parts site.
Success through Strong Partnerships
- Finning (Canada)’s exchange program uses a number of internal and external partners who work with us to provide quality products to our customers.
- Our partners employ ISO standards, continuous improvement methodology and the latest in tooling and equipment to ensure consistent quality. All repairs are to like-new condition using genuine Caterpillar parts by personnel who are trained to work to precise Caterpillar specifications. These factors result in products that provide consistently higher repair standards than what can be done in a typical service operation.
- Our largest partner is OEM Remanufacturing who rebuilds larger engines and drivetrain components and a variety of smaller components such as turbochargers and undercarriage.
- Other partners supply hydraulic and suspension cylinders, smaller engines and electrical products.
Exchange Program Purchase Options and Core Return Processes
Finning (Canada) offers the following purchase options for large components (i.e. engines, transmissions) available through our exchange program:
- Before Failure (BF) – Components eligible for this option are sold at a flat price that reflects the higher value of the core to be exchanged. In general, a “BF” core is a core that has not failed or shows no signs of impending failure (e.g. generating metal), however, each component type has a specific visual core criteria that outlines the conditions for a “BF” core credit
- After Failure (AF) - Similarly to Before Failure (BF) components, components that meet the AF criteria are sold with a flat-fee that also reflects the residual value (if any) in the core to be exchanged. “AF” cores also have specific criteria, however in general, an “AF” core is a core which has failed or is showing signs of failure.
- Service Plus (EX) – This option allows our customer to choose to be billed for the repair of the core they have returned, while utilizing off-the-shelf inventory to maintain machine availability. Service plus includes a flat-fee upfront with add-charges to follow upon inspection at the rebuild facility. The upfront charge represents all labour to disassemble/re-assemble the components as well as “must-use” parts. Add-charges would follow for any “hard” parts that require replacement or any salvage to allow a “hard” part to be reusable.
Exchanging components before they fail will save significant expense vs. waiting until a failure occurs. Our smaller parts and Caterpillar Remanufactured parts follow the typical core levels offered by most remanufacturing programs:
- Full Core –meets full core criteria and receives highest dollar value credit
- Damaged (Partial) Core – does not meet full criteria but still achieves partial core standards and receives a core credit value less than a full core (may not be offered on certain products)
- No Core (zero dollar) – for use when no core can be returned or the core does not meet the partial core credit criteria
It is advantageous to return your core as soon as possible. We work with our customers to achieve a target return date of 15 days from the customer invoice date for Caterpillar and Finning remanufactured products. However, if a core is not returned after 60 days, the core entitlement value is reduced by 20%. After 120 days, the core entitlement is removed.
Start Saving Time and Money!
To learn how you can benefit from our Exchange program, contact your Finning (Canada) parts representative or local branch today!