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Leasing Versus Buying Equipment

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Weigh the pros and cons of leasing vs. buying business equipment in this infographic from Balboa Capital. Both options come with their own benefits and qualification requirements that, ultimately, will impact your decision

Veröffentlicht in: Business
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Leasing Versus Buying Equipment

  1. 1. L E A S I N G What's the best option �for your company? B U Y I N G v e r s u s B U S I N E S S E Q U I P M E N T : O R LEASE BUY V S Fast, unless a business loan is needed, which takes longer to get approved. Equipment usually serves as collateral, which speeds up the process.� 2018 $1.7 TRILLION Amount that will be invested by United States businesses, nonprofit organizations, and government agencies in equipment, vehicles, technology, software, and more.� Time Impact Initial� Expense Little or no down payment is required. $1.06 TRILLION will be financed through loans, leases, and lines of credit. U . S . E Q U I P M E N T S P E N D I N G Cash Flow A large purchase can deplete cash flow. Fixed monthly payments help preserve cash. 100% of the purchase price is required. Upgrade Options� The owner bears the risk of equipment obsolescence. Upgrading to new, higher- end equipment is easy. Tax Benefits A tax deduction for all - or a portion - of the cost can often be claimed. Lease payments on eligible equipment can often be deducted. C O M PA R I S O N C H A R T No approval process, but full payment is required up front. Fast, as collateral and extensive paperwork aren't needed. Approval Process O T H E R C O N S I D E R AT I O N S QUICK RETURN ON INVESTMENT With a lease, smaller payments are made while the equipment generates revenue. EQUIPMENT OWNERSHIP Buying equipment provides instant ownership. With leasing, a business is essentially renting equipment for the duration of a lease agreement. EQUIPMENT BUNDLING� An equipment purchase might require additional costs for shipping, installation, and maintenance. With a lease, these things can often be bundled into one convenient solution.� T Y P E S O F B U S I N E S S E S T H AT L E A S E E Q U I P M E N T Small businesses Middle-market companies Large corporations Equipment manufacturers Equipment dealers/vendors Government agencies Nonprofit organizations C O N C L U S I O N Before buying or leasing business equipment, it's a good idea to consult with your accountant to see what the best option is based on your needs, financial situation, and growth goals. Sources: ELFA Online, Equipment Finance Advantage, Inc.com, Entrepreneur.com This infographic was created by Balboa Capital, a technology-driven financing company that provides business owners with fast, hassle-free solutions to fuel their growth and success. Visit www.balboacapital.com today.