It makes a lot of sense to be leasing equipment needed to operate your business successfully. Large equipment is getting more expensive every year, and if you had to buy that equipment outright, it could keep you in debt for years to come, and then you’d have an old piece of equipment on your hands when it’s paid off. There are lots of ways that leasing can be more beneficial for a business owner, and in this article, we’ll describe some of the important advantages of leasing equipment.
Advantages of Leasing Equipment
Here are some of the biggest advantages of leasing your business equipment, as opposed to buying it outright:
- 100% financing – in many cases, you can finance 100% of the cost of your new equipment, thus keeping other assets liquid and usable
- better ROI – by paying for your equipment in smaller monthly installments, you’ll get a better return on investment, since your equipment will be used to generate more income, while you’re paying less for it
- modern equipment – you can always have modern equipment on hand if you work your leasing arrangement such that after two or three years, you enter into a new leasing arrangement with new equipment
- customized terms – if your business is seasonal, you can arrange with your lessor to pay less during down seasons, while paying more when business is booming
- beat inflation – when you lease your equipment, you can lock in interest rates so that inflation doesn’t harm you while making your monthly payments
- single-source solution – when leasing, you can bundle cost, installation fees, and regular maintenance all with the same vendor; this can save you some significant money because all those services will be provided by the same company.
Thinking About Leasing Equipment?
You may need financial assistance, even if you’ve decided to lease equipment rather than purchase it. Contact us at Array Financial if you’re ready to take that next big step to acquire equipment that can help grow your business.