Here are the top considerations for leasing equipment for your small business:
1. Business equipment leasing gives you immediate access to the capital equipment you need with payments to fit your budget.
2. Computer leasing is a great way to take advantage of the newest technology, while transferring ownership risk to the equipment-leasing vendor.
3. Specialized leasing vendors offer all types of capital equipment — from MRI machines to industrial machinery.
Action Steps
The best contacts and resources to help you get it done
Determine the type of lease equipment you need
Business equipment leasing offers reasonable prices on a vast array of equipment for all kinds of businesses. Whether you need typical office furniture and equipment, industrial equipment, medical equipment or computer and IT equipment, equipment leasing is an option.I recommend: Tiger Leasing offers equipment leasing for a wide variety of businesses and industries. Visit the Equipment Leasing and Finance Association (ELFA) to access more than 800 members of the ELFA for a multitude of business equipment leasing, leasing vendors and lease financing options.
Look for IT and computer leasing for high-tech, lower-cost solutions
Because computers become obsolete, so quickly, computer leasing is a smart way to stay on top of tech trends while saving money. Don't forget to check into software offered by many computer leasing vendors, too.I recommend: IT and computer leasing solutions can be found at BizLeasing, RentaComputer.com or through the directory of Computer Leasing vendors at Business.com.
Get the best lease financing terms on your commercial lease agreement
Lease financing terms and rates vary and include operating leases and capital leases. With an operating lease, you return equipment at the end of the lease and have no option to buy. A capital lease typically gives you an option to buy at the end of the lease. Know which lease financing terms you want before signing a commercial lease agreement.I recommend: Submit a quick form at AllOptions to receive and compare multiple commercial leasing rates at no cost or obligation to you. At the Proposal Portal, just input a few business facts and get the lowest commercial equipment lease rates for free. Check out Keystone Leasing for multiple lease equipment options, including rent to own, 100 percent financing or 100 percent tax-deductible plans.
Find specialized leasing equipment vendors to increase your profits
Whether you need medical, industrial, restaurant or some other type of equipment, you can find it through specialized leasing vendors.I recommend: Industrial equipment leasing through Lease Source provides specialized leasing equipment for a variety of industries, and specific lease financing for companies in business for less than two years. USLeasing is a specialized leasing vendor specializing in medical equipment. For industrial equipment and machinery, try Access Equipment Leasing.
Take advantage of the best deals in low-cost end-of-leasing equipment options
Many companies offer end-of-lease equipment options that cost you as low as $1.00; while others may cost 10 percent of the item's price, fair market value, or another standard price. Check into these options before you sign the commercial lease agreement so you can plan accordingly.I recommend: Ervin Leasing’s standard end-of-lease options include $1.00, 10 percent and fair market value equipment leasing buy-outs. Download a lease application here.
Tips & Tactics
Helpful advice for making the most of this Guide
- Always read the fine print before signing a commercial lease agreement.
- Some manufacturers will lease equipment directly to your company, which may save money by cutting out the middleman.
- A commercial lease agreement typically runs from 12-60 months, with some exceptions.
- Equipment leasing and specialized leasing are great solutions for any commercial equipment that will depreciate over time.
- Only lease equipment you really need, or your profits will be lost on equipment leasing expenses.
- Look into capital lease financing if you want to keep the business equipment. With a capital lease, you can treat the equipment as depreciable assets for tax purposes.
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Invests in and finances the global energy sector, providing equity, debt, leases, project finance, partnerships and commercial financing.
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Wachovia Small Business Lease Resources
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Find Wachovia Small Business Lease. Search listings and reviews of retailers, specialists and services in your local area now.
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Specialized Equipment Leasing
Provides simple leasing and financing of business and professional equipment for several specialized industries.
keystoneleasing.com
Provides simple leasing and financing of business and professional equipment for several specialized industries.
keystoneleasing.com
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