Independent leasing companies are a great choice in many situations because they specialize in leasing equipment and offer a wide array of flexible financing options. No matter how big or small your budget and needs are, chances are good of finding a match with a leasing company.
Not all banks and credit unions offer loans for a business to lease equipment. However, if you can arrange with your bank to get money for equipment leasing, you may benefit from lower rates and further strengthen the business relationship with your bank.
Some equipment dealers can help your business find financing through the leasing companies they contract with. If you have a favorite equipment dealer whose word you trust, this could be an attractive option.
Some equipment manufacturers have their own leasing companies, called captive leasing companies. These captive companies can help you finance leases and purchases but tend to be less flexible when compared with independent companies. The loyalties of a captive leasing company are with the parent company instead of with the consumer.
The above leasing options are the most common used by businesses today. If you don’t have the time or energy to search for the best leasing solution that works best for your company, you can use a broker to serve as a go-between for you and a leasing company. However, you do need to pay an additional fee to the broker.
There is no one-size-fits-all solution that businesses can use for equipment leasing, so it is a good thing that you have several options available to consider. Choose an option that makes the most sense for your business.