Spread the cost of your equipment and protect your pounds.
Becki Farnworth (Whittle)
Account Manager Fleet Vehicle Leasing & Finance | Vehicle Purchase | Asset Finance | Commercial Loans
To buy this type of equipment can not only be very expensive but generally can go out of date quickly. Really its a "no-brainer" to spread the cost, however if your still not sure take a look below.
Pros:
- This method is good for equipment that needs to be updated often because you can acquire updated technology easier and quicker. If you will need to update your equipment on an annual basis to remain competitive, leasing allows you to avoid being stuck with outdated equipment.
- There is less expense up-front with leasing because you have easy, predictable payments. You don’t have to deal with one large lump sum to purchase what you need, making it easier to budget for the equipment over a longer period of time.
- Leasing is often 100% tax deductible as an operational expense.
- Leasing is flexible and offers more options when it comes to the type of equipment you get. You aren’t as restricted by high up-front costs or other hesitations to try something new that may help your business.
- With leasing, you don’t pay for maintenance. If something breaks or has issues due to normal wear and tear, the leasing company is in charge of fixing the equipment.