What are the advantages to leasing?
There are many aspects to leasing, we list out the best reasons here
NEVER BE OBSOLETE
Technology and equipment are always advancing. When you lease, you have the advantage of keeping your equipment up to date. The financial burden of the obsolete equipment is passed onto the leasing company. If your lease term is 2 years, this means that you are free to lease whatever equipment you want after the lease expires.
This mean that you can always have the newest, faster and most technologically advanced system. This can give you a significant advantage against your competitors and help you grow your business.
There is no better reason to lease than the tax benefits. When you lease equipment, the IRS allows you to deduct the lease payment as a business expense. With the Section 179 deduction, you could also qualify to deduct the full amount of the equipment even if you do not pay the full amount in the current year.
Click here to learn more about Section 179 and check out our Section 179 Tax Calculator to better understand how much you can save.
NO DOWN PAYMENT
One of the best reason to lease is it requires no money out of pocket. This will free up your cash flow and allow you to purchase the equipment you need to grow your business. Banks and traditional lending institutions tend to want a deposit or some money up front to finance the remaining part of the loan.
With EquipmentLease.com, you only need to fill out one application and be done. It is that easy!
FIXED MONTHLY PAYMENT
When purchasing equipment for your business, you want a fixed cost so you know what your monthly break-even is. Some loans start off with a low monthly payment or interest rate, but then increase as the market changes.
With EquipmentLease.com, we lock your low monthly payment in for the entire term of your loan. Keep in mind, we do have programs that we can offer a step payment for start-ups or businesses that might need more time to cover the monthly expense.