The Bottom Line: Understanding Your Monthly Payment and Cost of Loan
How to Evaluate Your Lease and Make the Best Choice for Your Business
Financing can be confusing and, yes, kind of boring. It does pay to understand a few things though, especially when it relates to saving on your monthly lease payments.
Give yourself an advantage by understanding the breakdown of monthly payments. There are a lot of moving parts in a lease. If you just compare payment amounts, you may not be getting the full picture.
Your lease term, end of lease agreement, inspection or transport fees, down payment and interest rate all go into determining your monthly payment. Let’s take a closer look at the factors that go into determining your monthly payment.