Tag Archives: equipment lease

Offer a Vendor Equipment Leasing Program to Enhance Sales and Profits

Vendors who offer a properly structured equipment leasing program are giving the customer a viable financing option. In addition, they are taking a major step to increase sales, market share, and profits. Yet it’s surprising how many companies will not provide a leasing program. Some say it’s because their customers have their own sources. Others say their customers pay cash. This mindset can be costly in a variety of ways. The biggest problem is that it can drive the customer to the arms of your competition. Customers can view the vendor as a one-stop shop where they can both fulfill their orders and get the financing they need, rather than having to seek financing from a bank or other financial institution.

Some equipment suppliers do offer a leasing program, but give the customer a choice between several leasing companies for them to use. That may sound practical, but shopping deals with a multitude of leasing companies can actually lower the chance of approval. If the customer chooses one of the leasing companies, and is subsequently declined, two negative actions may result. First, the credit inquiry lowers the customer’s credit score. Second, it will be clear this is a shopped transaction, and will make it more difficult to get the credit approved. If it is approved, the lower credit score will cause the rate to be higher.

Establishing a sound relationship with one reputable leasing company is the best course of action for both vendors and customers for several reasons:

1. The relationship (allowing one leasing company to be involved) should result in lower rates for your customers, thereby making it more attractive to buy from you. If a vendor uses multiple companies and shops deals, they will not usually get the best rates.
2. Using one leasing company results in better pricing because of increased volume. Leasing companies make more money when deals come through referrals, rather than expensive marketing. The referral business is more profitable because it provides a steady stream of deals from clients who are looking to acquire equipment now and need financing.
3. Because maintaining the relationship with the equipment supplier is critical to profitability, they will do everything in their power to keep the approval rate high and the lease rates low. These savings are passed on to the client.
4. The leasing company will also be more motivated and go the extra mile to fund the most challenging credits.
5. Because of economies of scale involved with large volume directed to the leasing company, the supplier is often entitled to referral fees of 1% to 2%, thus providing an additional income stream.

Utilizing credit control allows the vendor to maximize approvals while getting the best possible rates for clients. Leasing companies often spend a lot of money on marketing to increase their sales volume. With a vendor leasing program in place, the leasing company receives a steady flow of very similar clients who are seeking equipment now, and need financing. Since no additional marketing funds were incurred to get those clients, leasing companies pass on the savings by virtue of favourable pricing. Thus, the company’s customers benefit by enjoying lower financing costs as a result of its direct relationship with the leasing company.

Providing a lease option for your customers has tremendous advantages to everyone involved. Both the leasing company and equipment supplier will likely enjoy increased profits and the customer can acquire much needed equipment without a large down payment. Another advantage to the customer is that leasing allows them to easily upgrade their equipment package to a state-of-the-art level.

To set up a vendor leasing program, the financing company will typically expect the company to be in business for at least a year. It will review the stability of the business and its customers. Leasing is usually easier to obtain than bank loans or letters of credit, even though there is a determination of risk to the finance company. who offer a properly structured equipment leasing program are giving the customer a viable financing option. In addition, they are taking a major stp to increase sales, market share, and profits. Yet it’s surprising how many companies will not provide a leasing program. Some say it’s because their customers have their own sources. Others say their customers pay cash. This mindset can be costly in a variety of ways. The biggest problem is that it can drive the customer to the arms of your competition. Customers can view the vendor as a one-stop shop where they can both fulfill their orders and get the financing they need, rather than having to seek financing from a bank or other financial institution.

Some equipment suppliers do offer a leasing program, but give the customer a choice between several leasing companies for them to use. That may sound practical, but shopping deals with a multitude of leasing companies can actually lower the chance of approval. If the cus

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Equipment Lease Tips for a Restaurant Business. If you are planning to get into a restaurant business….

 

Equipment Lease Tips for a Restaurant Business

If you are planning to get into a restaurant business, one of the biggest challenges you will face is equipment financing. Setting up your own restaurant demands a considerable amount of cash. For one, you need to invest on restaurant equipment such as stoves, grills, gas range, freezers, tables, seats, cash register, credit card machines, computer, etc. Think about how much start-up capital you will need to be able to buy all the necessary equipment and furnishing.

True, you can apply for a business loan, but if you spend all money on equipment alone, there may not be much left for other expenses such as marketing, supplies, and hiring workers. Is there an alternative financing option for aspiring restaurateurs? Rather than purchasing all the equipment and furnishing your business needs, why not consider business equipment lease financing?

Here are equipment lease tips that are especially for restaurant business owners:

Make Sure It’s

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Heavy Equipment Leasing Advice..If you are considering leasing the heavy equipment

Heavy Equipment Leasing Advice

If you are considering leasing the heavy equipment that you need for your business – you are not alone. The majority of heavy equipment that is in operation today was obtained under a leasing agreement. Leasing your heavy equipment can allow you access to the equipment you need without being out a huge amount of money upfront. Heavy equipment leasing also has great tax ramifications – in certain instances you can deduct the entire expense of leasing as a business deduction, or either deduct the interest your pay and the depreciation of the piece of equipment to reduce the amount of tax you owe each year. Leasing your heavy equipment can also give you the ability to acquire updated equipment as technology is upgraded.

No matter what size of business you are operating, heavy equipment leasing can be a great way to obtain the heavy equipment that your business requires without a huge investment of your own capital. Having the right heavy equipment in place can go a long way towards maximizes both your profits and your business’ productivity. Educating yourself well in advance of going into an equipment lease about the type of heavy equipment would best suit your needs and what leasing options are available to you will help ensure that you are pleased with both your choice of equipment and your choice of leasing companies.

By getting to know your equipment options, you will be better able to make a determination of what type of heavy equipment leasing option best suits your needs. Have several different machines and models in mind, and compare the pros and cons of each. Keep in mind that price does not always determine the quality of the heavy equipment that you are interested in. Research the safety features of each model, and the frequency of repairs that the model of heavy equipment you are looking at is historically known for. By comparing several models, you should be able to eliminate those models that have options or features that are not needed for the proposed applications and uses you have planned for the heavy equipment – and therefore reduce costs.

Once your heavy equipment wants and needs have been established, you can move on to determining how much money you want to be out, what type of leasing you will obtain and what the lease will cover, and also how you will fit your lease payments into your any budget you have established. You should look for a leasing company that gives you the flexibility of being able to change your leasing agreement if your business needs and requirements change – including leaving open the options to pay out of your heavy equipment lease earlier than anticipated if needed without paying penalties and fees. It is best practice to only deal with companies that have great customer service and who want to work with you to find solutions to your business needs that you can afford. You should also deal only with leasing companies that are easily reached by telephone, both before and after you sign your heavy equipment lease.

Technological Benefits of Equipment Leasing.Technology provides a needed and powerful edge in business

Technology provides a needed and powerful edge in business; the following points examine those benefits and let you decide how these benefits provide you with the needed edge in business. An equipment leasing arrangement provides you the edge you need without running the expensive costs associated with purchasing state-of-the-art equipment.

Wider Options, Lesser Costs – With an equipment leasing arrangement you are free to select your choice of equipment without paying the full price. This advantage also comes with the fact that most business equipment leasing companies will often handle everything from the maintenance to the deployment of their equipment. Your company can save the costs associated with the equipment as the leasing company usually gets price cuts on equipment and related services since they buy in bulk.

State-Of-The-Art Equipment – When a commercial equipment leasing company provides your business with equipment they provide the best. They do this because unlike your

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How to Choose Your Business Equipment Lease Partner. Do you know the factors that should you should consider before making a choice? Here are some recommendations:

Having decided to get equipment lease financing, do you think you’re ready to find a lease partner for your business? Do you know the factors that should you should consider before making a choice? Here are some recommendations:

Reliable Service. Finding a lease company that you can rely on is a crucial aspect when doing your search. Your equipment lease partner should be ready to help you not only during the processing of your lease application, but even beyond that.

Pick a lease provider who can get you the devices you need and give you complete support as well such as with the installation and maintenance of your leased equipment. Interview other businesses that belongs to the same industry as you do and know what they have to say about different leasing firms. From their experiences, you can discover which leasing company has the best reputation?

Smooth Lease Processing. An equipment lease company that has been giving excellent service for a long time will certainly process l

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Equipment Lease Tips for a Restaurant

If you are planning to get into a restaurant business, one of the biggest challenges you will face is equipment financing. Setting up your own restaurant demands a considerable amount of cash. For one, you need to invest on restaurant equipment such as stoves, grills, gas range, freezers, tables, seats, cash register, credit card machines, computer, etc. Think about how much start-up capital you will need to be able to buy all the necessary equipment and furnishing.

True, you can apply for a business loan, but if you spend all money on equipment alone, there may not be much left for other expenses such as marketing, supplies, and hiring workers. Is there an alternative financing option for aspiring restaurateurs? Rather than purchasing all the equipment and furnishing your business needs, why not consider business equipment lease financing?

Here are equipment lease tips that are especially for restaurant business owners:

Make Sure It’s CSA Approved. If you are going to leas

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Should I lease a car through my business or personally?

Should I lease a car through my business or personally? As a business owner or Company Director wanting to lease a car for yourself, you have the choice of either Business Contract or Personal Car Leasing. In other words, you could lease your car through the business or lease it in your personal name, and each option has its own implications, benefits and disadvantages.

Business Car Leasing or Personal Car Leasing – a question of tax. The main thing to consider when you’re thinking about whether to lease a car through your business or personally is the tax situation. If you lease a car through your business, you will have to pay Company Car Tax (or Benefit In Kind Tax as it is also known), as some of your mileage will be classed as for personal use. There is also the Car Fuel Benefit charge to take into consideration if the company pays for your personal fuel.

However, leasing a car through a business has real advantages for the company, which is why most companies still lease the

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Joint ventures with equipment vendors

Economic recovery is real, but risks remain

Q. What is the status of the global economic recovery? I believe the global economic recovery is real. There is strong momentum in Asia and in other emerging markets around the world. However, in the case of the developed world, it does look like the recoveries are quite fragile and tentative. Canada is in a different situation than the rest of the developed world. Our economy went through a significant decline and has since rebounded. It has recouped almost all the output it lost during the last recession, and almost all the jobs it lost. But the economy will slow down from here.

EQUIPMENT VENDORS – are you interested in running your own equipment lease portfolio for equipment you sell? That is to say you make the credit decisions, you do the lease documents, you take the risk and your company realizes the upside profit margins inherent in the loans? All using our money. As we head into the next 10 years of stability it makes

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How Does Fitness Equipment Leasing Work?

There are varying types of fitness equipment leasing plans. Some, such as the fair market value (FMV) plan, offer flexible terms with lower monthly payments. Fair market value usually provides options at the end of a lease term, including purchase, lease extension, or lease termination and equipment return. The $1 buy-out plan is an option for those with definite intent to purchase. While payments are usually higher than other plans, at the end of the lease term lessees can buy the equipment for $1 Dollar.

Another common type of leasing plan offers mid-range payments and terms that fall between the FMV and the $1 buy-out plan. This type of plan typically allows the option to either buy or return the equipment at the end of the fitness equipment leasing plan. Purchase price is set at a fixed percentage of initial equipment cost, usually 10-12% of the equipment cost or amount financed. Individual fitness equipment retailers may also have unique plans specific to their business model

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Equipment Lease Tips For Startup Businesses

For a start up business, applying for a bank loan can prove to be difficult especially for those with no business credit history.  If you need financing to obtain equipment, devices or vehicles, why not consider equipment lease financing?

Who Can Lease

Both start up and established businesses can qualify for an equipment lease. In fact, this method of financing is being implemented by small businesses and large corporations in the industry.

Why Lease Equipment

Instead of taking a loan to purchase the equipment you need, a new business owner may choose to apply for a “lease” to avoid the unnecessary delay with the business operations.   Rather than wait for months to get their business loan approved, a business owner can get a lease at a much sooner time and proceed with the operations.

Furthermore, equipment lease financing is more cost-effective since no down payment is required and payments are made in instalments.  Many lessors offer flexible repayment terms (monthly, quarte

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