Should mechanics continue to lease equipment?

Mechanics, like other businesses, may choose to lease equipment for a variety of reasons, including:

1. Preservation of capital: Leasing equipment allows mechanics to acquire the equipment they need without having to make a large upfront investment, which can preserve their capital for other important expenses.
2. Tax benefits: Lease payments made by a mechanic can generally be written off as a business expense, which can help to reduce the overall tax burden of the business.
3. Flexibility: Mechanics may choose to lease equipment because it allows them to upgrade or replace equipment more frequently. This can be especially important in the automotive industry, where new technology is constantly emerging and older equipment may become obsolete.
4. Cost-effective: Leasing equipment can be more cost-effective than purchasing equipment outright, especially for mechanics who only need the equipment for a short period of time.
5. Maintenance and repair: Many leasing companies offer maintenance and repair services as part of the lease agreement. This can be beneficial for mechanics, as they don’t have to worry about the added cost and time of maintaining and repairing the equipment themselves.
6. Predictable costs: Leasing equipment can make budgeting easier, as the payments are fixed, making it easier to plan for future expenses.

In summary, mechanics may choose to lease equipment for various reasons such as preservation of capital, tax benefits, flexibility, cost-effectiveness, maintenance and repair services and predictable costs. This can be especially beneficial for mechanics in the automotive industry, where new technology is constantly emerging and older equipment may become obsolete.

Because I specialize in equipment and software financing between $1k – $1mil, it’s important that I move rapidly. And with the help of my team, I’m able to move deals from application to funding within hours.

And not just for well-established companies, I close quickly on start-ups and sole props as well.

I work hard every day, rarely take a day off, and ALWAYS return calls. And with my decade-plus of experience in finance, I know how to work a deal. Call me and find out for yourself.