The Have More vs. Have Not In Equipment Financing In Canada Finance Solutions Via Leasing

OVERVIEW – Information on finance solutions in Canada. Leased assets offer numerous advantages when considering the lease vs. buy decision and that’s why these key leasing equipt .points matter
Leasing is used by over 80% of all North American businesses. But do those firms that currently choose finance solutions via leased assets really have more going for them vs. those ‘ have nots’ who are constantly searching for an asset finance solution? Let’s dig in.

Picking the right equipment financing partner and solution is as much knowing what’s going on as it is asking the right questions. One of our mentors once said ‘ I never learned anything listening to myself talk ‘!

Equipment leasing is a year round solution, depending on what’s happening in your company and your industry. There are numerous challenges in growing a business, and if your business and industry is dependent on new assets and technology ‘ refreshes’ you’re arrived at the right spot.

Let’s take a look at questions you should be asking when it comes to the end of your ‘lease vs. buy ‘ decision. One of the tenets of leasing is that if an asset improves your business and has a longer life cycle, or need for change, you should be leasing. Your ability to determine the right monthly payment allows you to consider cash outflows on the lease vs. benefits you will receive from increased revenues, profits, or improved processes.

Next it’s important to determine what leasing company you want to work with. This might be on a long term relationship basis, or simply for a specific one time need. The right partner firm will allow you to clearly understand cash outflows on the lease, the actual structure of the transaction, and any flexibility that might be required regarding seasonality of payment. Also, a solid partner will give you some choices around type of lease you need (capital, or operating), as well as balance sheet or tax ramifications that come with equipment finance.

The right partner will also help you understand the ramifications of the residual value of the asset at the end of the term – under certain circumstances you want to know how you can extend a lease, upgrade it, buy it out, or return the asset.

By the way, the right long term lease partner is also capable of getting a one time ‘ MASTER LEASE’ in place, allowing you to simply add schedules to the lease as you need new assets – bottom line = quick/easy.

Also investigate your obligation around things such as insurance, marinating /servicing the asset (if required) and knowing your legal rights around what the industry calls ‘ end of term ‘.

So its clear , you can choose to be a ‘ have not ‘ in lease financing, but some key basics and working with the right partner will put you in the coveted ‘ have more ‘ camp – giving you 100% asset financing, , cash flow conservation, inflation hedge, and the ability to stay up to date with changing technology and fixed asset needs.

Leverage the knowledge and expertise of the right asset financing partner – seek out and speak to a trusted, credible and experienced Canadian business Financing Advisor with a track record of success who can assist you with your leasing finance solutions.


Author: Stan Prokop
7 Park Avenue Financial :

http://www.7parkavenuefinancial.com

Business financing for Canadian Firms , specializing in working capital, cash flow, asset based financing , Equipment Leasing , franchise finance and Cdn. Tax Credit Finance . Founded 2004 – Completed in excess of 90 Million $ of financing for Canadian corporations . Info /Contact :


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