To Buy Or To Lease?
Are you in the market for new equipment? Instead of buying, consider leasing your equipment instead. While there's not one answer applicable to every business, a lease could potentially offer a more cost-effective solution that protects your credit and keeps your equipment up-to-date. Read on to learn more about the advantages of leasing vs. buying equipment for your business.
Benefits of Leasing Equipment
Save Money: Instead of financing with a large down payment, leasing requires a minimal deposit and low monthly payments designed around your needs and budget.
Protect Credit: A lease allows you to keep your business credit line open, which allows your business to receive funding for expansion, staffing, and other needs. This also prevents the need to spend time and resources finding someone to extend credit for purchasing equipment.
Stay Competitive: Leasing allows you access to the latest equipment and technology quickly and at an affordable price. This also helps your business avoid outdated equipment and easily make upgrades to newer equipment, unlike with equipment that is bought.
Avoid Obsolescence: Since machinery and technology evolve quickly, older equipment quickly becomes out-of-date and obsolete. A lease can be structured to match the life of the equipment.
Avoid Additional Costs: In addition to the cost of the equipment, a lease can also include extra expenses like installation, delivery, and maintenance.
Have Choices: With short-term equipment leasing, you can evaluate if equipment truly works for you and your business.
Section 179 Tax Benefits: Lease payments can qualify as an expense and are fully deductible on equipment your business uses. When qualified as an expense, the equipment is also not listed as an asset or liability on your balance statement, simplifying accounting and avoiding debt.
Fixed Payments: Lease payments are not affected by market conditions and are fixed for the term of the lease, protecting against inflation and higher payments.
Contact Us About Leasing Equipment
Southwest Solutions Group® provides a variety of equipment leases to all types of businesses. For more information about the types of leasing options and equipment we offer, call us at 1-800-803-1083 or send us a message today.