Here are four key advantages of equipment leasing for your business.
Is leasing better than paying cash for business equipment? There is no right or wrong answer to this question, as every business owner has their own way of doing things. That said, it is important to know some of the advantages of equipment leasing. That way you can make the best decision for your company, and your budget. Axe Busoiness Funding developed this list to help guide you in the right direction.
Axe Business Funding also provides:
✔ Easy online application ✔ Quick approval decisions
✔ 24 to 72 month terms ✔ No collateral needed
✔ All credit scores considered ✔ Competitive rates
Reduced cash outlay.
Of all the advantages of equipment leasing, we have this one at the top of our list. That’s because saving cash is a primary goal of business owners like you. Leasing preserves your working capital that would otherwise be used if you were to pay cash for your equipment. You will only be responsible for low monthly lease payments over an agreed-upon term length. Plus you still own the equipment at the end of this term. Take a look at our Quick Quote tool to see down and monthly payment estimates.
Easier approval process.
You can get approved for an equipment lease without needing collateral, a high credit score, or a big down payment. Plus, you won’t need to fill out mountains of paperwork. With Axe Busoiness Funding, you can apply for an equipment lease online and get an instant decision. We have several types of equipment leases for you to choose from. Once you are approved, we can wire funds directly to the Dealer or Private Seller of the equipment.
Potential tax deductions.
Tax deductions are one of the biggest advantages of equipment leasing. If the equipment you lease qualifies for the Section 179 tax deduction, you might be able to expense all or portions of the cost. Check with your accountant to find out if the equipment you want to get is eligible under Section 179.
Better balance sheets.
Helping you keep an attractive balance sheet is another advantage of equipment leasing. That’s because your monthly lease payment is viewed as a business expense instead of a liability or long-term debt. As you know, having little or no debt on your company’s financial statements is a huge benefit that can improve your Paydex score.