Your Gateway to Business Growth with a Path to Equipment Ownership
Running a business isn’t easy – it’s a constant juggling act of managing expenses, investing in growth, and staying ahead of the competition. And for many, equipment is the backbone of business operations.
Equipment leasing enables you to access critical business equipment without breaking the bank, and even better, it gives you the option to own it outright. Lease-to-own equipment financing is like renting a house with the option to buy – you get to use the equipment you need now, with the added bonus of building equity towards ownership.
So, What Exactly is Equipment Leasing?
Think of it like a rental agreement with a built-in path to ownership. You make regular payments to use the equipment, and a portion of those payments goes towards its purchase price. It’s a win-win – you get immediate access to the tools you need, and over time, you pay off the purchase.
When Does Lease-to-Own Equipment Financing Make Sense?
- Cash Flow is King: Leasing preserves your working capital, freeing up funds for marketing, hiring, or unexpected expenses.
- Tech Moves Fast: In industries where technology evolves rapidly, leasing allows you to upgrade equipment frequently without the burden of outdated assets.
- Tax Advantages: Lease payments are tax write-offs as a business expense, reducing your tax liability.
- Flexibility is Key: Leasing often offers flexible terms, allowing you to tailor payments to your business cycle.
- The Path to Ownership: If you want the benefits of leasing now, but ultimately want to own the equipment, lease-to-own is your ideal solution
When Might Leasing Not Be the Best Fit?
- Short-Term Use: If you only need the equipment for a short period, a simple rental might be more cost-effective.
- Rare and Ultra-Specialized: Heavily specialized equipment might not be suitable for leasing, as its resale value could be limited.
- Bad Credit: Unfortunately, it takes good credit to get good lease terms. If you have damaged or bruised credit, you may experience a quick decline on your lease application.
The Perks of Leasing – Why It’s a Game-Changer for Canadian Businesses
- Fast Approvals: Leasing often has faster approval times compared to traditional loans, getting you up and running quickly.
- Less Paperwork: Say goodbye to mountains of documents! Leasing typically involves less paperwork than big bank financing.
- Flexible Terms: Leasing companies often offer customized lease terms to suit your unique business needs.
- No Down Payment: Leasing often requires little to no upfront payment, preserving your cash reserves.
- Build Equity: With lease-to-own, your payments contribute to the purchase price, allowing you to build equity over time.
Still Wondering if Lease-to-Own Equipment Financing is Right for Your Business?
Consider the type of equipment you need, how long you’ll need it, your credit rating, and your financial situation. Do your research, compare different leasing options, and consult with a financial advisor if necessary.
Ready to Explore Your Lease to Own Options?
At Thomcat Leasing, we specialize in lease-to-own solutions for small businesses in Canada. We understand the challenges you face, and we’re here to help you acquire the equipment you need to succeed – with the added benefit of potential ownership.
Get an instant equipment leasing estimate today and see how leasing can empower your business!
