Growing Your Business: How To Keep An Edge Over Your Competitors

There are a large variety of reasons a company might need to obtain equipment

, but many times these necessary items might seem beyond the financial means of your company. You need what you cant seem to afford. Fortunately, you can go to a leasing and financing company that can help you put together a viable equipment financing plan. They use creative equipment financing to turn your companys dreams into a reality. They will base the plan on your companys projected needs, budget and time.

The most difficult and important decision will be whether to purchase or lease the equipment. Equipment leasing is the wisest option because it lessens the immediate costs. In other words, it is cheaper for a company to lease because they do not have to pay a lot up front to acquire equipment they need to operate. And as the technology improves you will need to acquire new upgraded equipment every few years. But that isnt all. Leasing equipment is tax deductible, more financially flexible and more upgrade friendly as well.

Actual ownership of business equipment is an appealing idea, but most of the time it just isnt financially practical. This is especially true if you are operating on a tight budget. Although you will probably have the option of making reasonably priced monthly payments, most banks will require that you pay a down payment of at least 20% of the entire cost. Of course you can always borrow money to assist you, but there are often complications that will harm your future financial dealings with other companies.

It is very inadvisable to fork up big bucks to pay for certain kinds of equipment in the hopes of merely reselling it for an equal or even higher price later on. The ever-present progression of technology makes doing so bad business. The value of most equipment starts declining almost immediately because the manufacturers are constantly improvements and upgrades, kind of like the moment you drive a new car off the lot. It seems that almost as soon as you acquire a brand new something-or-other that that something-or-other becomes an antique.

In the end the decision of buying or leasing company equipment is a no-brainer. Not only is leasing the equipment cost-effective, if you elect to purchase the equipment you may soon find yourself the owner of an obsolete pile of junk. Plus, by the time it reaches obsolete pile of junk status you just might find you dont even need that particular kind of equipment anyway. And if you happen to fall in love with what youve leased, some leasing and financing companies will work out a deal so you can buy it at an ideal cost for you.

by: Barbara Griffith

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