Educational – Page 2 – Jim Coxon – Equipment Lease and Finance

Financing Equipment: What to Know & Consider

When it comes to financing equipment for a business, there are a number of factors to consider. From the initial cost of the equipment to the long-term costs of upkeep, it’s important to understand the full scope of what financing equipment will entail. Here are some of the key things to think about before making a decision about financing equipment.

Cost: The first factor to consider is the cost of the equipment. It’s important to get a thorough understanding of the cost of the equipment, as well as any associated fees and taxes. Additionally, it’s important to factor in the cost of any necessary repairs and maintenance.
Financing Options: It’s important to understand the different financing options available. Depending on the type of equipment and the size of the business, there may be a variety of financing options available such as leasing, loans, and lines of credit. It’s important to understand the different options and determine which one is the most cost-effective.
Terms: It’s important to understand the terms of the financing agreement. This includes the payment, repayment terms, and any additional fees. It’s important to read and understand the terms of the agreement to ensure that the financing is affordable and the terms are fair.
Reputation: It’s important to research the reputation of the financing company before signing any agreement. It’s important to make sure that the company has a good track record and is reputable.
Flexibility: When financing equipment, it’s important to consider the flexibility of the financing agreement. It’s important to understand if the payments can be changed or if the agreement can be terminated earlier than the agreed upon term.
Budgeting: Financing equipment can help businesses manage their cash flow and budgeting. It’s important to understand how the monthly payments will affect the budget and if the payments can be adjusted if necessary.

Financing equipment can be a great way to acquire the equipment a business needs without having to make a large upfront investment. By understanding the cost of the equipment, the financing options available, and the terms of the financing agreement, businesses can make an informed decision and find a financing option that meets their needs.

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.

7 things to consider before leasing a new automotive lift

Determine your lifting needs: Consider the types of vehicles you will be lifting and the weight capacity you will need.
Choose the right type of lift: Decide between a two-post lift, four-post lift, scissor lift, or in-ground lift.
Consider safety features: Look for safety features such as automatic arm restraints, locking mechanisms, and overload protection.
Check for certifications: Look for certifications such as ALI or ETL certification, which indicate that the lift has been tested and meets industry standards.
Read reviews: Research different brands and models, and read reviews from other customers to get an idea of the lift’s reliability and performance.
Consider the warranty and customer service: Make sure the lift comes with a warranty and that the manufacturer has a good reputation for customer service.
Check the shipping and installation cost: Make sure you factor in the cost of shipping and installation when making your decision.

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.

The rise of equipment leasing in the fight against inflation

Leasing equipment can be beneficial during times of high inflation, as it allows businesses to acquire the equipment they need without having to make a large upfront investment. This can be especially important during periods of high inflation, when the cost of goods and services is rising rapidly. When a business leases equipment, it can avoid the risk of having to purchase equipment at a higher cost in the future.

Additionally, leasing equipment can provide more flexibility for businesses during times of high inflation, as leases can be structured to match the useful life of the equipment. This can allow businesses to upgrade or replace equipment more frequently, which can be important in industries where technology and trends are constantly evolving.

Leasing equipment can also provide tax benefits during times of high inflation, as lease payments can generally be written off as a business expense. This can help businesses to reduce their overall tax burden and improve their cash flow.

However, it is important to note that during high inflation, the costs of leases may also increase, especially if the leases are structured with variable payments tied to an index such as Consumer Price Index. It’s important to carefully evaluate the terms of the lease and the potential impact of inflation on lease payments before entering into a lease agreement.

In summary, leasing equipment can be beneficial during times of high inflation, as it allows businesses to acquire the equipment they need without having to make a large upfront investment, provides flexibility and tax benefits. However, it’s important to carefully evaluate the terms of the lease and the potential impact of inflation on lease payments before entering into a lease agreement.

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.

Everything you should know about equipment leasing during a recession?

Leasing equipment can be especially important during a recession, as it allows businesses to acquire the equipment they need without having to make a large upfront investment. This can be crucial for businesses that are struggling financially, as it can help them to preserve their capital and stay afloat during difficult economic times.

Additionally, leasing equipment can provide a more flexible and cost-effective alternative to purchasing equipment outright. For example, businesses may choose to lease equipment for a shorter term during a recession, in order to be able to upgrade or replace it more frequently as market conditions change. This can be especially beneficial in industries where technology and trends are constantly evolving.

Leasing equipment can also provide tax benefits, as lease payments can generally be written off as a business expense. This can help businesses to reduce their overall tax burden and improve their cash flow.

Furthermore, during a recession, many businesses find it difficult to secure financing, leasing can be an alternative way to acquire equipment, since businesses are not required to take on debt.

In summary, leasing equipment can be an important tool during a recession, as it allows businesses to acquire the equipment they need without having to make a large upfront investment, provides flexibility and cost-effectiveness, tax benefits, and a alternative way to acquire equipment without taking on debt.

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.

Top 10 industries which rely on equipment leasing

Construction and engineering companies: These businesses often lease heavy equipment such as excavators, bulldozers, and cranes, as well as other specialized equipment like scaffolding and generators.
Technology companies: These businesses often lease servers, networking equipment, and other IT equipment.
Transportation and logistics companies: These businesses often lease trucks, trailers, and other commercial vehicles.
Medical and dental practices: These businesses often lease diagnostic equipment, x-ray machines, and other specialized medical equipment.
Manufacturing companies: These businesses often lease production equipment such as lathes, milling machines, and injection molding machines.
Retail businesses: These businesses often lease point-of-sale systems, security cameras, and other store equipment.
Restaurants: These businesses often lease kitchen equipment such as ovens, fryers, and refrigeration units.
Agriculture and farming companies: These businesses often lease tractors, combine harvesters, and other specialized equipment.
Service-based businesses: These businesses often lease specialized equipment such as pressure washers, lawn mowers, and other tools.
Energy and utility companies: These businesses often lease equipment such as generators, transformers, and other specialized equipment.

These are some examples of businesses that commonly lease equipment, but it’s not an exhaustive list. Leasing can be beneficial for businesses of all types, as it allows them to acquire the equipment they need without making a large upfront investment.

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.