Which is Better...A Loan or a Lease for Medical Equipment?

Which is Better...A Loan or a Lease for Medical Equipment

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Leasing medical equipment has its benefits-that's for sure. Sometimes there are other excellent ways to acquire your medical equipment opposed to just simply leasing the new medical equipment.

Let's take a quick look at a loan versus lease situation in the medical field:

--When comparing an equipment lease to a working capital loan, the lease has up-front payments. The working capital loan does not.

--When comparing a medical equipment lease to a working capital loan, the lease requires installation of equipment to be completed prior to funding. The working capital loan does not.

--With a medical equipment lease an original vendor invoice is required prior to funding. That is not the case with a medical working capital loan.

--With a medical equipment lease you may have issues buying from certain vendors (private party, auction house, or the internet). When you use funds from a medical working capital loan, you WILL NOT have these issues.

--Is early payoff allowed? Well, with the medical working capital loan the answer is yes. With the medical equipment lease, the answer is maybe. Often times when a leasing company shares with you that there is no pre-payment penalty, they sometimes forget (yeah right, more like neglect to tell you) to tell you how early payoff works. Generally, you'll be required to remit the remaining number of payments left in your term. In other words, it does not work like a fully amortized loan.

Whether you need short-term renting or long-term leasing, Davis Medical can provide your practice with the best rental or lease plan for medical equipment. We will help you lease great medical equipmentquickly and without any hasslefrom our large inventory of new and refurbished equipment.

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