Converting Equipment Rental to Equipment Purchase
Equipment finance over equipment rental
There are many benefits to financing & eventually owning equipment instead of renting equipment – they include:
- Once converted to an equipment loan or lease, finance payments on a previously rented piece of equipment will generally be substantially lower each month than were the rental payments for the exact same unit- usually half or less.
- Increasing your businesses cash flow each month.
- Enhance your balance sheet rather than erode from it.
- You will now have a “history” with a finance partner, making for easier loan qualifying on the next piece of equipment.
- Once the finance term is complete, your business is producing from a piece of equipment that is owned free and clear of any monthly burden.
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