The business world is constantly moving forward. An equipment lease is a powerful business tool that enables you to respond to your changing business needs by freeing up capital and keeping your business's valuable assets current. Some of the great benefits that you can expect to enjoy with a lease include the following:
Make Your Equipment Work For You
By leasing, your equipment can help your business profit by generating the income that will help to pay for it while you put it to work for your business. The pay as you use model of an equipment lease allows you to build a stronger business with the leading-edge equipment you need while freeing up valuable capital.
Lease vs. Line of Credit
Lease financing enables you to acquire the equipment you need without tying up your valuable credit lines. With that kind of freedom, you can instead use your capital and lines of credit to meet other business needs.
Stay Ahead of your Competition
Leasing makes it possible to have the most up-to-date equipment without tying up your capital in depreciating equipment over a long term. Depending on the equipment you need, your lease term can be tailored to give you the chance to trade up your equipment every time your lease term expires. You'll never worry about keeping up with the competition again or having to deal with costly repairs.
From Tax Pain to Tax Gain
Equipment leases can be up to 100 percent tax deductible in Canada. Check the Revenue Canada Guidelines to determine how this may help your bottom line next tax season.
Putting Your Interest First
The interest rates are not determined until the approval process is completed. This means that your business interests are protected since you always get the best and most competitive interest rates available at the time of lease.
Try Before You Buy
An equipment lease enables you to try out equipment for a period of time while you're making strides towards owning it. At the end of your lease term, you have options. If the equipment is working for your business, you've already paid for a large portion of it and can now exercise the option to purchase. If it's not working, our leasing professionals can refer you to one of our Preferred Vendors who can help you find new equipment that will better suit your needs.
Accounting That Is Simplified
An equipment lease offers you the flexibility to create payment terms that work for you. We can set up a fixed payment schedule that keeps your administration and accounting procedures easy and straight-forward so you can focus your time on doing what you do best.
An operating budget may allow for a quick decision when acquiring equipment for lease when a capital budget does not. A Lease vs. Loan Analysis can be provided by one of our Commercial Finance representatives upon request to help you see how leasing can help your bottom line.