How to Choose an Equipment Leasing Company
5 Dec 2019 Financing
Learning some simple tips on how to choose an equipment leasing company can help you make an informed decision about who you partner with. At Valiant Financial, they understand how important it is to partner with a company you can trust and depend on. That is why their team has put together some tips to help you choose the best equipment leasing company for your specific wants and needs.
1. Interview Prospective Equipment Leasing Companies
Make sure to take the time to properly interview prospective equipment lease financing companies before making a decision. Doing so will give you the opportunity to ask about the experience they have with the type of transaction you are looking for, their involvement with similar businesses in your industry, and the types of products they can lease for your business.
2. Look for a Company with a Good Reputation
One of the most important things you can look for is a leasing company that is in good standing with your industry. Make sure to find out if the company has had any lawsuits filed against them, judgements, severe payment delinquencies, poor financial performance, or any other issues that might impact their performance on a new lease transaction.
3. Ask for References
When considering hiring an equipment leasing company, it is always a good idea to ask for and check their references. Taking the time to contact each reference to verify the key information given to you by the leasing company will not only help narrow down your search but also help give you complete peace of mind when you do make a decision. When speaking to references, it is also a good idea to find out how attentive the company is to customer problems and concerns, as well as the equipment lease financing company’s ability to handle any problems or issues.
4. Review the Company Online
It is important to take the time to review potential lease financing companies online to find out if they appear in any newsworthy articles, as well as to find out how they interact with other companies. Make sure to look for any unresolved problems, fraud allegations, financial problems, success stories, and awards.