Is Renting Equipment the Best Solution for Your Organization?
Time to Rent, Not Buy: Why is Equipment Leasing Better Than Buying
As the economic climate continues to improve, many people are starting to think about buying a new car or other major purchase. However, there is an option that may be better for you than purchasing equipment outright: leasing it. In this blog post we will discuss why leasing from The Hire Guys Balcatta is often a better choice than buying brand new and how it can save you both time and money.
Leasing is a type of rental agreement between a company and an individual. The owner provides the equipment for use in exchange for monthly payments, typically tax-deductible. If you lease your new car or other major purchase instead of buy it outright, you will pay less up front because over time the dollar value would add up to be more costly than what you are paying on a monthly basis. In addition, leasing often comes with perks such as warranties and maintenance programs which can help protect the business from high unforeseen expenses that may occur down the road – saving money in both cases!
What does this mean? What should I do about it? Example: Leasing gives businesses flexibility during tough economic times when budget cuts often mean scaling back on expenses. Losing a $15,000 piece of equipment because you couldn’t make the monthly payments is devastating to any company and can have lasting consequences that are difficult to recover from. This is why it’s important to partner with a trusted leasing company that will provide the resources you need to be successful.
A well executed lease agreement will include all of the necessary extras that are important to any business, such as warranties and maintenance programs. The lending company is responsible for maintaining the value of leased property; this means either buying it back or taking on responsibility when accidents happen.