The rate of change within the fields of technology seems to be increasing exponentially thanks in part to technological advances and improvements. People buy the latest and greatest smart phones, tablets, video gaming consoles and computer software every six to 12 months in hopes of gaining an edge and boosting productivity. Though this rapid rollout of changes can be good (especially for smart phone manufacturers and retailers) the downside is that equipment, devices and related machinery becomes obsolete at a much faster rate.
Twenty years ago, for instance, you may have expected an investment in manufacturing machinery to last a decade or more. Today, it is much harder to determine when or how much to invest in new equipment purchase before it becomes an antique.
Save on Obsolesce Costs with Equipment Lease Financing
For this reason and more, many companies today are opting for business equipment leasing rather than traditional equipment financing. Once viewed as an expensive option, equipment lease financing can actually save your business money while improving your cash flow. With business equipment leasing, you can avoid making a large down payment, which could negatively affect your cash flow. In addition, equipment leasing can be less expensive in monthly payments than term loan payments with interest.
Medical Equipment Leasing Has Become a “Must” for Doctors, Dentists
With office equipment leasing, you can lease the equipment for say 5 years and then trade it in to get the upgraded model for another 5 years. For fields such as medical equipment leasing, restaurant equipment leasing and fitness equipment leasing, where it is important to obtain updated and new devices, equipment leasing is becoming more sought after than traditional purchasing options.
If you run a busy doctor’s office you are more than likely able to afford medical equipment leasing for a highly advanced piece of machinery though you might not be able to afford to purchase it outright. For dentists, doctors and others in the medical field, patients today demand the most advanced technology and medical equipment leasing may allow your office to get it.