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Why should you consider leasing?
When you need new equipment for your business, getting equipment financing is a smart fiscal move. The flexibility provided by leasing a company to have the most effective operation possible. Companies that lease tend to be the most entrepreneurial & competitive.
Most businesses can qualify for equipment financing. How much you qualify for – and the interest rate you’ll pay – depends on the value of the equipment, your business history, and credit rating.
TOP FIVE REASONS TO LEASE
- Leasing is Flexible
- 100% Financing
- Tax Benefits
- Improves Cash Flow
- Manage Obsolescence
Advantages of Leasing over Loaning
When on the search for new equipment, one will have to make the decision between leasing or financing. To help you with your decision making process, we would like to present you with a few advantages of leasing over loaning.
When leasing, the lessor has more control over the costs that the contract covers, including some of the costs that may have been forgotten up front. Transaction speed is faster when leasing equipment. Often times, approvals can be issued on the same day compared to a loan that could take weeks.
When leasing, there are no hidden costs, all costs are up front. However when applying for a loan through a bank, often times they charge high fees to boost their rate of return on loans and means handing over collateral rights. Leasing equipment lowers your risks, as generally, the only collateral is the equipment itself.