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Description vs equipment
Leasing equipment can help your business stay up-to-date with the latest technology. Other benefits of leasing include making lower monthly payments than you would have with a loan, getting a fixed financing rate instead of a floating rate, benefiting from tax advantages, and conserving working capital by avoiding cash-devouring down payments. Leasing also has its downside, however: You may pay a higher price over the long term. You are also committed to retaining a piece of equipment for a certain time period, which can be problematic if your business is in flux.
Every lease decision is unique so it's important to study the lease agreement carefully. When deciding to obtain equipment, you need to determine whether it is better to lease or purchase the equipment. You might use this checklist to compare the costs for each option.
- View Equipment Lease Checklist
- View Comprehensive Equipment Lease with Provision Regarding Investment Tax
- View Notice by Lessor to Lessee of Personal Property of Termination of Lease due to Default in Payment of Rent - Past Due Rent
- View Personal Property Lease or Rental Agreement of Consumer Electronics, Home Appliances and Accessories with Option to Purchase and Own - Lease or Rent to Own
- View Personal Property Lease or Rental Agreement of Equipment and Furniture with Option to Purchase and Own - Lease or Rent to Own
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