...one of the main issues in buying the equipment is that the technology will be obsolete within three years...
Laguna Hills, CA (PRWEB) July 11, 2013
Envision Capital Group, a top equipment leasing company in Orange county, CA, strives to educate business owners on their many options with financing. If planned well, equipment leasing is a preferred financial strategy for many businesses. With equipment leasing, comes tax benefits, the ability to upgrade equipment frequently, and can help a business grow by having an opportunity to get appropriate equipment. Envision Capital Group discusses the top myths here:
1. “I need good credit to lease.” Not necessarily, with a wide variety of programs, there are different requirements for giving a business a lease line of credit. These programs can range from A-D credit histories for small, medium and large business and start-ups.
2. “It’s more expensive to lease.” Leasing can often be more cost effective than purchasing. Many payments are tax deductible, depending on the terms, leasing can often be more cost effective than purchasing, especially as many payments are tax deductible, and you can often incorporate the maintenance & upkeep fees within the lease into one easy payment. With leasing you also have the option to turn in the equipment at the end of the lease, vs. with purchasing having to worry about selling used equipment on your dime.
3. “It is better to own the equipment.” Not true. Keep in mind that one of the main issues in buying the equipment is that the technology will be obsolete within three years. It is also the businesses responsibility to keep the equipment in working order, at their own cost, and to attempt to resell it once they plan to get a new piece of equipment. With a lease, a business has the ability to have the equipment taken off their hands by the financing company, and or replaced by upgraded technology.
4. “I can’t own the equipment if I lease it.” Some leases guarantee the option to purchase the equipment at the end of the lease agreement. Prior to signing your agreement, business owners should plan on whether or not they plan to own the equipment at the conclusion of the lease.
5. “I can only lease certain types of equipment.” With equipment leasing a business has the ability to finance ANY type of equipment. Some of the more common leases are manufacturing equipment, computers, furniture, commercial vehicles, and software/hardware.
6. “All Leasing Companies are the same”- With any industry, it’s about finding the right partner for your business. Finding the right equipment leasing company can be extremely beneficial. A business will want a financing partner that is experienced, works to understand the specific business, the business’ financial needs & strategy, and helps the business find the right financing solution tailored to their needs.
About Envision Capital Group
Envision Capital Group is an Orange County, CA based top equipment financing & equipment leasing company. Envision Capital offers lease financing, equipment loans, working capital & merchant cash advance programs. They finance any business type, any equipment type, nationwide. To learn more, visit: envisioncapitalgroup.com.