Benefits of Leasing
What is a Lease?
A Faithshire lease is an agreement by a customer (lessee) to pay a monthly rental payment for a specific amount of time with a predetermined purchase option. The lessee is responsible for all costs of ownership, including insurance and maintenance costs.
Ten Key Reasons to Lease
- Keeps your money in your pocket.
- Allows you to upgrade and always stay on the competitive edge.
- It costs less overall than financing.
- Lower monthly payments.
- Low or no down payment.
- Preserves capital to put into appreciating assets.
- Includes most or all of your costs to acquire your equipment.
- Keeps your lines of credit available without affecting your ability to borrow.
- Payments are generally fully tax deductible.
- Defers the taxes (which are paid monthly rather than up front).
Leasing lowers your upfront capital needed to acquire new equipment. It's "off balance sheet" meaning it generally won't affect your borrowing capacity with your bankers. Ultimately, leasing is the least expensive method of equipment acquisition over the long term.