Offering Lease Options on Business Equipment
Many businesses opt for a lease or a lease to buy plan when it comes to their business equipment. Pairing up with the right leasing agency is the keep to getting and keeping a great leasing arrangement for years to come. The right leasing agency will configure your lease so that there is room for depreciation in the contract and will give you 100 percent financing when you have good credit. This way, you can walk out of the warehouse with the equipment and begin using it that very same day, saving the interim rental fees – fees which are accrued between the time you take delivery of the equipment and the time the lease begins.
If you are leasing business equipment that is for a special project, such as an industrial strength camera or graphics equipment, make sure the lease and the project have the same agreement on the time line. You don’t want the lease to run out before the project is completed. Give yourself a few extra days or a week to make sure the project does not run over schedule as projects often do. When leasing turns into renting, then the price sometimes triples and you can’t afford that.
Your business should also opt for a short-term renewal notice so you are not paying renewal fees. This is when the leasing company will notify you of when the lease is about to expire and you have a choice of turning in the piece of equipment or renewing your original agreement. Sometimes this is automatic so you want to be notified in advance in case you want to relinquish the item.