Discover competitive ways to acquire the equipment you need for your small business. Whether you’re just launching your business, facing an unexpected breakdown or looking for ways to expand your services, equipment leasing can help you grow your business effectively.
Rather than taking the time to apply for a bank loan and face high interest rates and long-term payment plans, leasing your equipment allows you to get started right away with manageable monthly payments. You won’t own the equipment outright, but will be able to use it through the duration of the lease.
Most lease payments are tax deductible. This is a huge financial incentive to choose this flexible alternative. Leasing can also be a more cost-effective solution. Most equipment leasing contracts not only cover the cost of the machine, but also any maintenance or installation costs associated with the equipment.
If your small business is working with equipment that is frequently updated, such as computer technology, leasing is a great way to easily swap an outdated model for the latest technology. When your lease term ends, you won’t have to worry about selling our outdated equipment. That allows for you to more freely choose the latest version for state-of-the-art operations.
Not all lease agreements are the same. However, many leases will cover the running maintenance on your machinery. Whether you’re leasing construction equipment, computers, kitchen appliances or company vehicles, you won’t have to worry about unexpected repair costs that would otherwise seriously harm your financial situation.
Depending on the specific lease contract you sign, you may be able to purchase your equipment at the end of the lease. If you simply don’t have the working capital available to invest in new machinery, you can lease it. Much of the lease payment will go towards the total value of the equipment, which will then be available for outright purchase at the end of the agreement.
Look for leases on your essential equipment, or consider whether your company can expand rapidly through leasing. If there’s a related product or service that your company has experience in, leasing could provide you with the equipment you need to launch a new line of products or relevant service.
Discover how a lease can offer you the financial flexibility you need to get started right away. If your business is struggling with cash flow issues but needs machinery immediately, equipment leasing can be a dynamic way to keep your business growing successfully.