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Wednesday, July 9, 2014

Before You Lease – Important Tips for Equipment Leasing

Equipment is a necessary part of running a business. Equipment can be owned, bypassed or leased depending on the business’ size and industry. It is not uncommon for businesses to lease their equipment from an outside vendor. Studies have shown that over 80% of businesses lease at least some of their equipment.

Equipment leasing is a great alternative to taking out a loan, especially for businesses that have limited capital and will need to upgrade every few years. Lease financing offers exceptional advantages from lower monthly payments, tax advantages, conservation of working capital, fixed financing rates and no hefty down payments. Equipment leasing also gives companies access to the most advanced technology and software on the market.

Companies looking to lease should consider these questions:
  1. What are the up-front costs?
  2. What is the typical process for commercial equipment leasing?
  3. What about insurance?
  4. What are the options for upgrading equipment?
  5. How long will I need the equipment for?
  6. Does the leasing vendor include soft costs such as service, supplies and training?

Other questions to think about in regards to choosing a leasing company are:
  1. How long has the company been in business?
  2. How much experience do the individuals have in the leasing business?
  3. Who will I be dealing with?
  4. What are the terms and conditions at the end of the lease?

It is important to study the lease agreement carefully before making any decisions. Equipment leasing companies such as Tiger Leasing can provide customized programs for any business. At Tiger Leasing, we act as partners that provide you with financing solutions to give you the equipment you need.

If you have any questions about leasing comment below or visit us online to learn more about the benefits of leasing.

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posted by Tiger Leasing @ 2:40 PM

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