Equipment Leasing
An equipment lease agreement is a contractual agreement where the lessor, who is the owner of the equipment, allows the lessee to use the equipment for a specified period in exchange for periodic payments.
Buying and maintaining equipment is expensive, and as soon as you invest in a piece of machinery, it’s only a matter of time before a new version comes out, making yours obsolete or inferior. Due to the high costs involved in owning and operating equipment, many businesses opt to lease rather than own.
Leasing offers myriads of advantages, including lower monthly payments, which are typically spread out over the course of months or years rather than delivered in a lump sum. Many commercial equipment leases also include service agreements or service add-ons, which offer peace of mind for business users and negate the need for in-house technicians.
