Many business owners prefer to lease equipment instead of purchasing that equipment. The same can be said for businesses in the energy industry. These business owners enjoy many benefits beyond saving money.
When you realize that you need new energy equipment, will you choose equipment leasing or will you buy that new technology?
This decision can affect your abilities to upgrade as your business grows, improve the productivity of your workers, and improve the quality of your work. Obviously, each business owner will have to decide which option is most appropriate, but there are some important advantages to consider.
Clearly, saving money is a very important consideration. If equipment financing allows you to hang to more money, then this will also open up opportunities for growth and further success. The purchase of equipment requires a substantial investment and large payment – to be made immediately. Leasing spreads that payment out in affordable monthly installments. Leasing energy equipment often opens up access to machinery that might otherwise be too expensive to purchase.
Equipment leasing often removes concerns over maintenance and repairs. When the time comes to get rid of equipment that no longer works the leased equipment can be turned over to the original company. These advantages over purchasing are often attractive to businesses trying to keep their monthly expenses down.
Sometimes, businesses choose equipment financing as a way to test out energy equipment before committing to an expensive purchase. In an industry where the quality and dependability of machinery is very important, careful research into the equipment is vital. An extended trial period, lasting the length of the lease contract, allows you to become very familiar with your options. You’ll be fully aware of the pros and cons of the equipment you intend to purchase. You’ll also have the information you need to determine how much you truly need a piece of equipment.
The lease payments you make for rental equipment are often tax deductible. This translates into important savings. Your financial situation can be helped in other ways as well. For example, leasing removes the burden of obtaining a loan to purchase new equipment. Consistent monthly payments help a new business owner establish a positive financial history and leaves available credit lines open for emergencies that may crop up.
It can be tricky trying to sell used energy equipment. Equipment financing removes this concern. When the equipment has aged and is no longer usable, you will be saved from the losses that occur when you sell old equipment for less than you paid while simultaneously paying to replace the equipment. Many business owners find that the process of selling used equipment is frustrating and distracts from the true work that the business wants to pursue.
Our Equipment leasing program presents many benefits. It is good for business owners in the energy industry. It’s good for the environment. It is good for business.