Many of the small business owners lease the equipments they use for business purposes. Leasing provides many benefits for these small business owners. The main benefit is that they can save the money meant for buying equipments. This money can be utilized for other beneficial business needs. Equipment leasing provides you profit with minimum investment. As small business firms have limited budget they make use of the benefit of leasing and thereby avoid bank loans and other credit services. Leasing equipments instead of purchasing them aids in saving tax, avoiding down payments and also helps to conserve money for future purposes. This provides financial stability in business.
Nowadays there are many companies that provide equipments for lease. All kinds of stuff are available in the market for lease such as computers, networks, office space, medical equipments and other equipments required by the particular business. Flexibility to use the most advanced equipments is the major advantage of leasing. Customers using leased equipments can upgrade to newer equipments from the equipment lease providers at a minimum cost.
There are two kinds of financing for small business equipment leasing. They are finance lease and true lease. Finance lease is best for those who wish to keep the equipment after the lease period, as finance lease gives the customer the option to buy the equipment after the lease period. In the case of true lease customers can leave the equipment at the end of the lease period. If they are really interested to purchase the equipment they can buy it at fair market price. The payment on true lease is less than that of finance lease as the lessors can sell the equipment after the lease period. True leases offer more tax advantages than finance lease. Before choosing any small business equipment leasing you should discuss with different lessors about the cost of the equipment, period of lease and about the purchase of the equipment after the lease period for acquiring the most economical lease service.
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