Equipment Leasing

The Basics Your Lender Will Want to See and How You Can Optimize for the Best Rates

Equipment leasing is a powerful business growth tool and is a lot more flexible than a traditional bank loan. Leases are easier to qualify for, offer more stress-free terms and can usually be obtained without a down payment.

Though the up-front costs to you may be minimal, they do represent a major investment for the lender. Your lender will be playing it safe, especially in this day and age, and looking for indicators that your business is a good credit risk.

Lease brokers have specific measures they look for in a lease application. Some of these are things you can optimize, like a strong business plan and a solid credit score. Some are factors out of your control, like the number of years you’ve been in business and your credit history.

Knowing beforehand what the lender wants to see is key to a successful application.

Buy Smarter by Calculating Equipment Operating Costs

We all like a good deal and, as business owners, we all need to watch the bottom line. It’s tempting to look at the equipment’s price first and its specs/maintenance records/user rating second – if at all. But this can be a costly mistake.

The real cost of a piece of equipment can only be calculated once you include the actual operating costs. The dent in your cashflow when you purchase is only the first of many costs associated with owning heavy equipment. Labour, maintenance, efficiency and downtime are all business costs too. If you get a “deal” on a cheap machine, but it is less efficient to run, breaks down more often and requires more expensive parts, is it really saving your business money?

Low prices do not always mean a better deal.

Keep Reading…

Use these insider tips to bid smart, avoid costly mistakes and seal the deal

Everybody is looking for a good deal on a great piece of equipment. Online auctions can be a smart way to find what you need for the price you want, but they come with their own unique challenges. You are bidding against other potential buyers who may push the price higher than you want to go.

Unlike buying from a store, or even the classifieds, auctions are dynamic sales where prices are flexible and changing constantly. This can be intimidating, yet with a strategic approach you can use this fluidity to your advantage. It takes a disciplined, well-thought-out bidding strategy to win. How can you maximize your buying potential and minimize risk? Read on…