Accounting and Tax Advantages
- Lease payments can be deducted as business expenses, reducing the net cost of your lease. Most leases will even allow you to write-off the full payment.
- You may expense lease payments instead of depreciating them as a capital cost. Debt to Equity ratios are also unaffected because the furniture is kept off of the balance sheet.
- With purchasing or financing the federal and provincial sales taxes must be paid upfront, but with leasing the sales tax is spread over the term of your lease.
- Leases typically do not require a down payment, 100% of the purchase price is financed.
- Preserve your capital and bank line of credit for day-to-day operating expenses and unforeseen emergencies.
- Make small monthly payments rather than take a loan or have a large cash outlay.
Flexible Payment Terms
- Payments can be arranged according to your expected seasonal earnings.
- Control the turnover and cost of your furnishings
Variety of Leasing Options
- Equilease offers more than 8 leasing options that can be customized by expert leasing advisors to meet your growth and profit objectives.
- Upgrade furniture by returning it and trading-up.
- Obtain the use of a piece of furniture for short term contracts.
- Maintain your competitive edge and not be left owning unused furniture at the end of a job or contract.
Higher Rates of Approval
- Equilease is in a position to approve most leases in as little as 15 minutes. Banks often take days, even weeks to respond to your request.
- Leases are often easier to obtain and have more flexible terms than loans, making it the perfect option for those who have credit issues.
- Quickly acquire new furniture as it is needed.