Benefits of Leasing Commercial Equipment
28 Nov 2019 Financing
Getting to know some of the different benefits of leasing commercial equipment will help you make an informed decision about whether or not leasing is in your best interests. At Valiant Financial, they understand how beneficial leasing equipment can be for businesses of all shapes and sizes. That is why they offer a selection of financing options that can be tailored to suit your business needs.
1. Get the Equipment You Need Without Upfront Costs
Leasing equipment for your business can help you afford the machinery you need without having to worry about the hefty price tag upfront. The smaller monthly payments made available through financing make it easy to acquire what you need to remain competitive in your industry and to help your business grow faster. Having monthly payments rather than paying a lumpsum also means that the money you owe in monthly payments can be covered by the work the new equipment brings to the business.
2. Easier Financing Options
Compared to getting a Line of Credit to purchase new equipment, equipment lease financing makes it easier for businesses to qualify for an equipment loan from a qualified lender. This is because equipment lease financing is secured by your equipment, which means that the lease poses a lower risk than other types of loans. Equipment lease financing also requires you to provide less information to get approved for the loan.
3. Keep Your Equipment Up to Date
Everyday use can cause your equipment to wear out almost as fast as new equipment and technology changes are put out on the market. Instead of having to worry about trying to find ways to sell outdated equipment that no longer runs as it should, leasing makes it easier for you to upgrade your equipment and stay current in your industry. Equipment lease financing also provides greater flexibility, as it can change with the needs of your business.
4. Receive Tax Benefits
Equipment lease financing can also provide your business with potential tax benefits. In some cases, leasing can provide your business with a full tax deduction on lease payments against current earnings, while also allowing you to preserve working capital that you would not have had access to if you purchased equipment upfront. Make sure to check with your tax advisor to determine which tax benefits your business can qualify for.
If you would like to learn more about how equipment financing works, or if you are interested in their financial services, please contact Valiant Financial at 1-833-635-3273.