5 questions to ask a company financing tool when negotiating a lease of equipment
Equipment rental may be an excellent choice for your business when you need to expand or upgrade your equipment.
While the lease financing can be done by the manufacturer or retailer, the company financing tool a few times is the best way to go.
Not only are they experienced in the process and make it easier, they often have more flexibility when it comes to words.
When you start looking for company financing tool here are the 5 things you need to ask:
What are the total costs, including lease payment?
Because you rent the equipment and pay only for the time you use the equipment and not the total cost of the equipment, the lease payment is much lower per month than if you bought and financed.
Don’t let the cost of a lower help ask what the total cost will be.
Make sure you are on the same page all costs. Asked about the delay in payment, security deposit, additional charges and taxes.
They can add and even though the lease financing can be the right choice You should be aware of all incidentals.
Are there any other fees are not included in the rent?
Make sure there are no additional costs associated with the lease.
Sometimes you can be responsible for all taxes, fees or surcharges.
Make sure you do not have the management, maintenance, and replacement.
For example, if you rent Your vehicle, tires, oil change or cleaning.
What happens at the end of the lease?
Want the option to buy and what would be the price?
Can you grow attached to the equipment and are still able to have a good life ahead, it could be an option for the purchase of equipment or finance companies you may want to extend the lease.
Things to consider include price, the value of equipment based on price and the estimated age of the equipment.
It is much better to calculate this at first, then in the end.
Can I upgrade or add equipment?
You may find that you need to upgrade or add more down the line equipment and unless you have a parent rent if you do this, you will need to create and negotiate additional contract or lease.
If you plan to upgrade or add equipment, you should look into a master lease.
What should I do when I return the equipment?
Find what you need to do at the end of their lease.
Do you need to drop the equipment and go? Where did you drop? Who is responsible for shipping or delivery? Whether you need to return the owner’s manual? Do you need to make your records maintained unity guarantees on things?
Make sure you cover when you negotiate a contract so you don’t hit with fresh surprises at the end.