The Leasing GroupThe Leasing Group

by The Leasing Group

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When it comes to business equipment leasing, you already know you can rent all the desks, chairs, computers and copiers you’ll ever need. Other common leases might include vehicles, conveyor systems, and construction equipment.

That’s just a small sample of equipment you might be smart to lease instead of buy. Take it from us, we’ve been in business for a long time, and we’ve seen it all.

Here are six items for lease you might not expect:

1. Fitness equipment
Did you know that the Cybex machine you keep meaning to use at your local gym is probably leased? Treadmills, elliptical trainers, stair-steppers and weight machines are expensive. They need regular maintenance and frequent replacement as a result of heavy daily use. We often advocate our fitness center clients lease their machines rather than purchase them.

2. Laundry equipment
Like a gym, other businesses that rely on their equipment to generate revenue are public laundromats, multifamily housing laundry rooms or commercial linen service firms. Have you priced a new washer and dryer for your home lately? A top-of the-line model is not cheap, so multiply that several times over and you have the cost of just one industrial-size washer, dryer or flatwork ironer. Total equipment for these businesses could cost anywhere from $75,000 to $250,000. Leasing makes a lot of sense when you don’t have the liquid cash to make a large, upfront investment.

3. Cleaning equipment
We’re not talking about mops and buckets here. Commercial cleaning companies whose customers are large office facilities, hotels or stadiums have to keep on hand an array of floor buffers, steam cleaners, pressure washers and carpet shampooers. Each of these devices can cost thousands of dollars. We advise these companies to weigh total investment and ongoing maintenance when deciding to lease or own.

4. Fire Trucks, Police Cars, and Ambulances
Many people just assume that cites and municipalities purchase things like fire trucks outright, but in many instances it makes more financial sense to lease first-responder vehicles. Leasing allows local governments to better manage cash flow, plus they can usually get low interest rates and flexible terms. So remember – make sure you give the fire trucks in your town plenty of room on the roads. They just might not be paid for yet.

5. Art
Fine art is a luxury. Many businesses want to incorporate paintings and photography into their office décor. Or maybe they need art to spice up an event or corporate outing. We think it’s a great idea to lease artwork instead of buy it, not only because it saves money, but also because it allows for changes in taste. Many artwork dealers let you lease art like you rent a movie from Netflix – keep it for as long as you like, then return it for something fresh and new.

6. Barges
Being located in a river town gives us plenty of opportunity to see barges dutifully traveling up and down the Ohio River. Many wouldn’t give a second thought about who owns the barge or how it’s financed, so it might surprise you to know that companies often lease their barges so that they can maintain their cash flow advantages.

The Leasing Group can help you with financing for all the above, as well as for any standard business equipment lease. Contact us at (502) 547-2773.

The Leasing Group
About The Leasing Group