Equipment lease introduction
Equipment leasing has become an increasingly popular option for companies that need new equipment. In fact, according to the Equipment Leasing Association, as many as eight out of ten U.S. businesses choose to lease at least some of their equipment.
An equipment lease lets you pass the buck - at least for a while. A third party funding source (the lessor) will purchase the equipment you want. As the lessee, you can use the equipment in exchange for regular payments made over a contracted period of time. Just like a bank loan, though, you need to have good credit and prove your ability to repay the lender.
This BuyerZone Equipment Leasing Buyer's Guide will help you understand why and how to set up a lease and what to look for when shopping for an equipment lease. You can also use a free vendor comparison tool to review the different types of equipment lease programs that companies offer.