Struggling to get the equipment you need for your business on ever smaller budgets?
You’re not alone. The money allocated to purchasing equipment is expected to cover everything you may need, from a new vehicle to office full of new computers and IT equipment. Due to the high cost of purchasing equipment outright, businesses are finding it harder and harder to afford up-to-date equipment.
G-Force Finance, however, provides a wide range of options to business’s looking to invest in new equipment. Leasing allows you to pay an agreed regular cost in return for the use of a range of different, much needed up-to-date equipment. This type of funding allows businesses to adopt a range of new equipment, while optimising budgets and spreading the cost across a longer time period.
Before financing your next piece of equipment, there are a few different factors you should take into consideration.
Three Important Pre-Finance Considerations
Before agreeing to the terms of any finance deal it’s important to consider a few factors to ensure you get the best deal on your chosen equipment, and adhere to important regulations too.
Here are three factors that should be considered before committing to a leasing contract:
Budget and Affordability
The first thing to consider when financing or leasing is the budget, and any other fees that may be incurred as part of your agreement.
When you are planning a budget for your finance deal, there’s more to look at than the monthly cost that’s presented to you.
Make sure you know the upfront cost of the finance offer and the interest rate that you’ll have to pay with your finance agreement. G-Force Finance can help keep your cash flow stable by splitting your payments into easy-to-manage instalments.
However, when minor details are missed and your forecasting is subsequently incorrect, unexpected payments may crop up and interfere with your carefully laid out budgets. When you’ve agreed to the terms of a finance contract, make sure you check the terms of the agreement in detail helping you to adhere to your budget and ensure you agree to a known cost.
Lease or Purchase
When looking for a finance deal for equipment, it’s important to decide whether it’d be more beneficial to lease (pay instalments in return for the use of the equipment), or purchase the equipment outright.
Leasing equipment often incurs lower costs, and although you don’t get to keep the equipment at the end of a leasing contract, this can be a positive.
When taking out a funding deal on technological equipment leasing can be the best possible option because the equipment will need replacing in a few years’ time when it’s outdated – so there’s no need to spend extra purchasing it.
Choosing The Right Finance Company
When looking to lease equipment, you must make sure you choose the right finance company for your requirements. An experienced finance provider will be open and transparent with all costs and contract terms, helping you to agree on the right contract for your needs.
Finding a trustworthy finance provider isn’t difficult, and when you do you’ll be able to access your new assets with a full understanding of terms, and complete cost transparency.
If your plan is to lease or finance equipment over a long period of time, or regularly replace equipment at the end of a leasing contract, it’s important that you and your leaseholder company have a stable relationship – so make sure you choose a funding provider that you can trust.
Find Your Perfect Finance Offer
Now that you know what to take into consideration before you agree upon a lease or finance contract, you can safely go about finding the ideal contract for your business. At G-Force Finance Solutions, we offer trustworthy leasing agreements that allow your business to adopt a range of features, including IT equipment, capital equipment and vehicles.
Discover G-Force Finance Solutions dedicated leasing and finance services today, or contact one of our asset finance experts to enquire about your finance needs.