Get a flexible payment structure to fit your
business needs. If your business has a slow season, ask for seasonal payment
Consider a leasing program that provides for
lease expiration at or near warranty expiration.
With an operating lease, if you think you’ll
keep the equipment after the lease term, ask for a cap on the purchase price,
such as “fair market value (FMV) not to exceed 20% of the equipment’s cost.”
Use your existing equipment to generate cash.
With a sale and leaseback, a leasing company buys your existing equipment and
leases it back to you. You get the cash that is locked up in your equipment
while still continuing to use it.
Refinancing your existing equipment with a
capital or finance lease can lower payments by as much as 50%.
Understand the fine print. Most leases contain
a termination value schedule, detailing the amount that will need to be paid to
terminate the lease.
Don’t be afraid to ask for references when
shopping for an equipment leasing company.