A lease is basically a contract that transfers the right to possession. Equipment leasing companies provide customers with the privilege to use their equipment for a limited time frame with a monthly payment. Leasing equipment for official purposes, as opposed to purchasing equipment, offers any business flexibility in financing.
Equipment leasing is used for vehicles, agricultural equipment, medical equipment, restaurant equipment, construction and technology equipment. A typical equipment leasing company will require a few monthly payments up front, compared to a conventional financer who will usually ask for about 10 to 20 percent up front.
Some advantages to equipment leasing include: your monthly payments can be viewed as operating costs, and offer good tax benefits in the process. It is therefore important to consult your tax advisor to ascertain whether equipment leasing is the most beneficial alternative for your company.
Many companies offer specialized equipment leasing programs to both customers and vendors, and aim to provide equipment leasing services that are both easy to understand and extremely tax-efficient. Currently, 80 percent of US businesses lease at least one piece of equipment.
Stated simply, the benefits of leasing equipment are almost limitless. Leasing has become the preferred equipment acquirement method for US businesses. In addition, leasing offers real advantages, including better value, reduced cash flow strain, and greater control. Today, there are many types of leases available, and each one can be customized to help you get the equipment at the price that fits your company’s budget.
The process is actually quite simple; most applications receive bids within two business days. This means you can obtain equipment right away, without having to consider loans or other more time-consuming financing vehicles. In addition, leasing enables you to tailor a solution that meets your company’s requirements. The flexibility of leasing is unprecedented – the length and amount of your payments can also be customized to fit your situation.
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