Top Benefits of Equipment Leasing in Your Industry
Improve your company’s efficiency with the latest equipment at an affordable rate. Find out how equipment leasing can help you secure state-of-the-art construction equipment, computer devices or other machinery with reduced upfront expenses and other great benefits. Leverage your current situation and make the most of your working capital with leases on industry-leading technology.
Improved Working Capital
An equipment lease allows you to invest your working capital in other projects. Instead of investing all your available capital into a new piece of equipment, a lease gives you the freedom to invest in materials, payroll and other opportunities.
There are many different types of leases available. Choose a yearly lease for consistent monthly payments for the operation of your equipment. If you’re looking for a short-term alternative for specialized items, consider a shorter lease. Work with a leasing company to determine the types of leases available for machinery in your industry.
Reduced Upfront Expenses
This is possible because an equipment lease typically requires little or no money down. You’ll have consistent monthly payments, but upfront cost is significantly less than purchasing equipment outright. Whether you’re purchasing a few computers for your office or a new dump truck for your construction company, some upfront expenses are too high for startups to get off the ground. A lease allows you to start earning right away and pay for your essential items over time.
Purchasing a brand-new piece of equipment is a significant investment. Most leases offer you all the advantages of using state-of-the-art equipment, without the cost. If your professional tools and machinery depreciate quickly, then a lease is an ideal way to trade in outdated items and easily replace them with new ones year after year.
There are unique tax benefits for leasing equipment instead of purchasing it. Equipment leasing expenses are tax deductible, so you can enjoy tax breaks when you sign on for leasing rather than purchasing equipment outright.
Unlike an equipment loan, you won’t be stuck with an outdated piece of machinery at the end of your lease. You have the option to purchase the equipment you’ve been making monthly payments for, but you can simply turn it in at the end of your lease. Ending a contract in this way is far more convenient than attempting to sell a depreciated asset. Convenient, flexible financing is what you need to keep your business growing and offering customers leading services.