Find Flexible Payment Terms

• When you are shopping around for a place to lease your equipment from, you need to make sure that you find favorable leasing terms to work with. For example, some leasing merchants allow you to choose your payment due date. If you agree to terms that do not work well with your business, it could take away some of the initial advantages of leasing equipment in the first place. Make sure that you can afford the payment and that it is due at a convenient time of the month.
  
  

Lease-End Options

• When you are choosing a company to work with, you also need to find someone that offers attractive options when your lease expires. For example, depending on your industry, you may need to upgrade your equipment every few years to stay on the cutting edge of the field. You need to find a leasing company that allows you to return the old equipment when you are done and then upgrade to more effective equipment for your business.
  
  

Maintenance and Repairs

• When looking at a leasing company, you also need to pay special attention to the rules about leasing and repairs. If something breaks, you need to know that you can send it back to the leasing company and get it repaired. If you are responsible for any damage to the property, this may not be to your advantage. Some equipment may also need regular maintenance to make sure that it operates correctly, and you want to ensure that the company will take care of these requirements.
  
  

Compare to Financing

• When you lease equipment, you are essentially borrowing it from the leasing company and paying interest. Because of this, you may want to compare the lease terms that you are getting to financing terms that are available. If you have good credit, your company may be able to qualify for a low interest rate and your payment might be lower than what it would be if you leased the equipment. In many cases, leasing will still be cheaper, but you owe it to yourself to investigate every option.