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There are many situations where an equipment lease is a better option than an equipment loan for your business. Some examples of when you may prefer a lease include:
You don’t have the funds for a large lump sum down payment or deposit available.
You want to test out an expensive piece of equipment before committing to the cost of a long-term investment.
You are looking for an option where your monthly payments cover the cost of regular maintenance throughout the term of your lease.
The equipment in question needs to be upgraded regularly for your business to stay current and keep up with current standards in your industry.
The equipment depreciates quickly and or doesn't have a long term functional life.
