Want to improve the quality and productivity of your construction business? If yes, our financing experts at Sandhu & Sran Leasing & Financing know how to save you from the financial burden of buying the latest construction equipment by providing it on lease. We are a leading equipment leasing and financing company in Abbotsford, assisting construction business owners in securing the best equipment at the lowest lease price.
If you don’t have the cash flow or credit to acquire what you need right now, financing or leasing it may be a good option. Before you sign any deal, you should be aware of a few ins and outs about leasing:
1. Fair Market Value Lease
A fair market value lease allows you to purchase the equipment at market value when the lease term expires. You can also select whether to extend or terminate the lease. If you decide to buy it, the price is determined by the worth of the equipment minus the amount you have already paid for leasing it. This choice is typically the most adaptable and has the lowest monthly cost.
2. Check Buyout Lease Options
This sort of lease is ideal for larger products that are unlikely to depreciate quickly. When this lease period expires, you will have the opportunity to purchase the equipment for one dollar. We understand it sounds like a good deal, but the monthly payments will be hefty for the duration of the lease. You will effectively be paying the whole amount of the equipment during that time period, which is why you have the choice to purchase it at the end.
3. Consider Sale Leaseback
A sale-leaseback is when you sell your equipment to someone, who then leases it back to you. This transaction provides you with cash that you can use to lease or finance additional equipment. An equipment sale-leaseback is a smart approach to enhance any business’s cash flow. One disadvantage of this form of lease is that the payments are normally greater and the contract is shorter.
4. Provides Financing Flexibility
One of the most significant benefits of leasing or financing the equipment you require is the ability to find something that is specifically tailored to your needs. Whether you need extra cash flow or more equipment to finish a construction project, you can get your hands on to it with equipment financing or leasing in Abbotsford.
5. Access to Latest Equipment
Leasing equipment will help you stay updated with the latest technology. Almost every year, there are new developments in the construction industry that can make your job easier. When you lease, you may be able to upgrade to modern and latest equipment at the end of your lease period. This technique can help your company stay on the cutting edge of its industry.
So, these were some ways you can save money by leasing or financing your next equipment with Sandhu & Sran Financing. To know about our financing or leasing or loan deals, feel free to contact us anytime.
