• Leasing is preferred over buying as one has money in the bank for other purchases even after equipment leasing.
• Monthly payments in case of a lease are smaller than regular loan payments.
• According to the SBA, following are the most common items that are leased:
o office equipment o computers o Trucks and vehicles.
• Leasing equipment provides consistency with expenses and increased cash flow.
• An entire purchase, including software, hardware, consulting, maintenance, freight, installation, and training costs can be financed easily.
• Leasing has the ability to maintain up-to-date equipment and also allows one to add and upgrade equipment to meet future needs. Thus, the risk of being caught with obsolete equipment is transferred automatically to the leasing company.
• Equipment leases generally range from $ 2,000 to $ 2 million.
Following are some things to be kept in mind while dealing with the Leasing Companies:
• As the company selling the equipment works with more than one leasing company and makes a direct referral to a leasing company with which it does business, it is very necessary to get quotes from a number of leasing firms before leasing equipment.
• Before taking a final decision, it is advisable to ask for referrals from friends and business associates.
• You can take the help of brokers as they tend to have valuable insight about the leasing market. They are beneficial as they can also help you find the best leasing solution for your needs.
• While dealing with any type of salesperson, do the required homework so that you are able to handle the due diligence.
To conclude, you just need to negotiate the most favorable lease agreement for your company. Find out more about this and equipment financing by visiting this site.