What Is An Equipment Lease? Is It Just For New Businesses?

What is an equipment lease? Can established as well as new business lease their business equipment?

what is an equipment leaseYou might think that getting an equipment lease is just for startup companies.

But when it comes to companies already in business, leasing your business equipment is a smart option as well.

Whether you need restaurant equipment, gym equipment or medical equipment – or any other kind of equipment needed to run your business, equipment leasing is a smart choice.

If you are unfamiliar with what is an equipment lease, the answer is its like a helping hand for your business.

Simply put, when you lease your equipment, you get the equipment you need for your business without paying the full price for it upfront. Smart business owners realize they can conserve capital and get the equipment they need at the same time by leasing and financing their equipment.

Equipment leasing is a win-win all around – as it makes both financial and business sense. Let’s take a look at why and how you may want to consider equipment leasing as well.

Both New And Existing Businesses are Leasing

If you already have an existing business, equipment leasing is just as easy as if you were a startup. If your restaurant business wanted to get an equipment lease for a new walk in refrigerator, you could very easily get it through a lease.

If you are starting up your own business and need your initial computer supplies and equipment, its easy to lease these as well.

You will soon find that out once you investigate the leasing option, you’ll soon realize that you can probably get different or even higher grade equipment that you otherwise could if you had acquired it through a cash purchase.

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Both new and existing companies do very well with equipment leases because it affords them more flexibility with their operating budgets. When you lease your equipment, you can then redirect your capital to hire more employees – because the money you would otherwise have spent on purchasing the equipment is now freed up.

Perhaps your company might would rather make some new additions to your office building because you have some extra money on hand? You can do this when you lease. When you make a cash purchase, the money is all gone.

Equipment leasing gives you financial options you may otherwise been unable to even consider – allowing you to run your business more effectively.

And when you lease your equipment with LeaseQ, there are even more benefits. Check out this video to see how easy equipment leasing is to do with LeaseQ:

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What Is An Equipment Lease?

When you choose to lease instead of making a cash purchase, you may also be able to leapfrog your competition. With equipment leasing, you can get newer equipment that your rivals may not have. This can give you a competitive edge.

And having a competitive edge means more customers and more sales.

For example, when you run a business that needs multiple computers and workstations, you’ll soon find out that in order to make your office run as smoothly as possible, your computer technology and software constantly needs updating.

If you lease your computer systems, by the time you pay the lease off, you can then switch those workstations out with newer models and updated software. This way you will always be on the leading edge of technology and maintain a competitive advantage over your peers.

Especially with computer equipment leasing, by the time your current lease expires, your equipment will likely be in need of an upgrade. This is a far better choice than purchasing and financing, whereby you’re stuck with the product after you lease it.

When you buy – you’re stuck, unless you sell it. Who has the time to sell their office equipment on eBay? You have better things to do…like running your business.

With a computer equipment lease for example, you simply start a new lease with equipment that is brand new and has the latest software and technology to keep your office running smoothly and efficiently.

That is why it is important for companies to lease their equipment instead of purchasing – especially with equipment that gets outdated quickly and computers fall into this category.

Equipment Leasing Is Smart For Any Business

This holds true for many industries aside from the technology niche. For example, if you run a restaurant, restaurant equipment leasing is an extremely smart choice.

Let’s say you have a number of deep fryers in your restaurant. Believe it or not, fryer technology is constantly evolving as well. Although the basics of frying stay largely the same, there are technological improvements being made constantly.

However, a deep fryer for a restaurant is a good example of something that might not need to be exchanged after the lease is over. It may be perfectly serviceable after the term of the lease is over and not need replacing. However, you have the option to upgrade should you choose.

Either way, as you understand what is an equipment lease, you’ll see the many benefits of leasing equipment – be it a thousand computer workstations or a just a few fryers for your restaurant, the benefits of equipment leasing are real.

Lease Benefits and Conclusion

Equipment leasing is an invaluable tool you can use as a business owner to help your business run more efficiently.

When you lease any piece of equipment that is related to your business, you save cash and have the option to upgrade at the end of the lease. Additionally, there are solid tax benefits as well. Just like you can write off some equipment and tools that are needed to run your business successfully, you can write off your leases as well. This will help you to reduce your taxes and help your business not just make payroll each week but ultimately succeed as well.

Whether its leasing big fryers for a restaurant business, new computers for your office, or even a coffee machine for your coffee store, equipment leasing is a smart option.

To find out more about equipment leasing as well as help to further answer the question: what is an equipment lease?…click here for a free quote. Or contact us to get your questions of leasing and financing answered.

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