Post by troycuthers on May 6, 2019 4:32:18 GMT 2
Equipment leases are especially useful when you want to purchase a piece of equipment that you’re not 100 percent sure that you’ll need long term. After all, you can’t predict the future, but sometimes you need things now that may not be useful later.
With traditional equipment financing, or purchasing the equipment outright, you run the risk of getting stuck with equipment that you might only need short term. An equipment lease gives you flexibility because if the equipment becomes unnecessary for your business, you can get rid of it whenever the lease ends.
It’s far easier to upgrade to better models when you lease equipment, especially if you’re careful about how you structure your lease. For example, let’s say you need a certain type of equipment, but you expect there to be a better model in two years. By signing a leasing agreement that is for a two-year term, you can easily trade in your old model and upgrade to the new one at the end of your lease.
Also, with an equipment lease, because you don’t own the old model, you don’t have to worry about selling it.
With traditional equipment financing, or purchasing the equipment outright, you run the risk of getting stuck with equipment that you might only need short term. An equipment lease gives you flexibility because if the equipment becomes unnecessary for your business, you can get rid of it whenever the lease ends.
It’s far easier to upgrade to better models when you lease equipment, especially if you’re careful about how you structure your lease. For example, let’s say you need a certain type of equipment, but you expect there to be a better model in two years. By signing a leasing agreement that is for a two-year term, you can easily trade in your old model and upgrade to the new one at the end of your lease.
Also, with an equipment lease, because you don’t own the old model, you don’t have to worry about selling it.