In this series of upcoming blogs, Crestmark Equipment Finance will share the many reasons why seven out of 10 businesses choose to finance their equipment through leasing versus paying cash, placing on a credit card or opting for a bank loan.
This week, Crestmark Equipment Finance discusses the advantages of leasing IT equipment including hardware, software and licensing, printers, servers, and networking equipment. Why should my business lease IT equipment?
• Leasing provides 100% financing for all equipment, software, training, maintenance and installation. Crestmark Equipment Finance also can provide 100% software financing for businesses, which most lending institutions will not extend financing to customers due to software not being a “tangible” asset against the loan.
• End of Lease Options: Most hardware (PCs, tablets, laptops) has a useful lifecycle of 2 to 5 years based on the ever-changing pace of today’s technology. Through leasing, your business has the option to purchase the hardware at lease end, update to new equipment, continue to lease the hardware, or return the equipment.
o If you purchase hardware, you are stuck with the equipment; leasing provides a way to give the hardware a “trial” run throughout the term. If you are unhappy with the product (or technology has left a gap in your production), you can simply return the equipment and upgrade to new hardware.
o Avoid obsolete equipment: Crestmark Equipment Finance will transition your systems from the former equipment to the new equipment and through its complete end of lease line of services, take the old equipment for certified destruction to comply with government standards.
• Flexibility: Most Crestmark Equipment Finance commercial customers require multiple types of hardware and software from different manufacturers/vendors. You select the equipment from one or multiple manufacturers and we will provide financing terms for the hardware, software and other services (installation, training, etc.).
• Fixed Monthly Payment: Unlike other financing options, your monthly payment is fixed throughout the term you select – it will not fluctuate based on market conditions or interest rates. You lock in the monthly payment when you accept the equipment.
Crestmark Equipment Finance has helped businesses, large and small, retain a technologically updated environment through financing their IT systems, software and requirements. We also have specialized financing programs to minimize leasing paperwork and track leased assets online through our proprietary asset management portal, assetCONNECT®.
To receive a leasing quote for your IT equipment needs, please contact Crestmark Equipment Finance or call 888.999.8050.