The Top 4 Benefits Of Leasing Your Equipment
Leasing your work equipment can be a lifesaver as far as costs go, but that's not the only benefit there is. Here are the top four benefits to leasing equipment.
It's Convenient
Arguably the most important factor of leasing equipment is the convenience of doing so. With leasing, you don't need to come up with cash, you don't need to set up direct debits from your accounts (although you can if you want to), and you often don't need a down payment.
When you try to lease equipment, the company leasing it to you will make a credit decision quickly, so you could have your equipment on the same day.
Leasing Can Be Customized
Another benefit of leasing is that it's a customizable solution. What that means is that the number of payments and types of payments can be changed. These are a few common offers:
- 90-day no-payment terms
- Step-up or step-down programs
- Level payments over the course of the lease
- Seasonal payments only
Of course, these do depend on the leasing office's available options, but they're worth discussing with the lender. In most cases, the lender can come up with a solution that works for you.
Expenses Are Consistent
Another important part of business is knowing your expenses. With leasing, you can be 100-percent sure of the cost of your equipment every month. Leases are typically created with fixed monthly payments, which means your leasing paperwork has the amount you'll pay, when you'll need to pay it, and all terms written out. There are no surprises.
New Tools Are Available
Another fantastic benefit of leasing is the ability to return equipment and to trade it in for different or new equipment. The latest options and upgrades to your old equipment are available, so you can try them and lease them over a short term if you're not sure if you want to buy them or use them consistently.
While new equipment can be costly, the addition of a leasing program can make monthly payments affordable for the length of time you need the machinery. Best of all, if you decide you want to buy the equipment, you can usually purchase it at the end of your leasing agreement.
These are just a few of the benefits of leasing your equipment. From being able to use the latest, high-tech equipment to knowing your payments every month, there are plenty of reasons to give leasing a try. Speak to experts like Solution 7 Incorporated for more information.
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