HOW TO CHOOSE THE RIGHT EQUIPMENT LEASING VENDOR

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The purpose of this article is to help you choose the right equipment leasing vendor. There are many to choose from and it can be difficult to decide which one is best for your needs. The following tips will help you make an informed decision.

You've decided that equipment leasing is the most effective way to choose your next business decision. That does not mean you must instantly pick the very first equipment leasing vendor you come across. Here are some ways to consider when choosing your options for equipment vendor leasing.

1. Consider Leasing Minimums and also Maximums

Different vendors provide different minimums as well as maximums when it comes to what amount you can lease. Prior to submitting an equipment leasing application, check to ensure that your requirements can be met by that specific vendor. Some vendors could need a high minimum, which can prevent you from qualifying if you just need a lease for a small amount. Various other vendors might not provide enough to cover your total needs. Minimum lease amount of $5,000.00, in all types of equipment financing.

2. Compare Term Length

Your term length for equipment leasing is very important. A longer-term will allows you to save your monthly payment amount. However, this duration also requires you to match your anticipated life span for the equipment you'll be leasing.

3. Consider Soft Costs

Anytime you lease equipment, you need to take into consideration the costs as part of your financing plan. Soft costs include things like delivery, installment, as well as training. It is important to make sure that your chosen vendor consists of those costs as part of the lease deal, or else you might end up restricting your cash flow to cover those additional expenses. Many equipment leasing vendors do include soft costs, but it's much better to be safe and also double-check the overall cost of your new equipment early while in the process. We will provide your company with 100% financing for all equipment (including 100% shipping and installation).

4. Understand Eligible Equipment

Most people think of heavy machinery and equipment when it comes to leasing. However, you can benefit from equipment leasing advantages for a variety of business needs. Look for vendors who have considerable options in terms of eligible equipment. Health care, manufacturing, printing, agricultural, trucking, and also even IT equipment could be leased with the right vendor. If you're on a particularly tight budget, you can also find a vendor who leases previously owned equipment. We obtain lease approvals when several companies say NO! By working closely with you as well as your clients we are able to put a strong financial plan and provide your client with every possible benefit!

Bottom Line

As soon as you've reviewed these 4 areas of any type of equipment leasing vendor, you can rest assured, understanding you have made the best-informed choice possible.

Call us at 1-888-308-7160 for more info. We will work with you and your clients to get them financed!

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