Leasing Company's

[cleann4kids]

Want to find a leasing company for new equipment
any suggeston's?

 

[danbrown]

Yes. Avoid at all costs.

That is unless you like paying twice the amount of what the equipment is worth by the end of the term.

 

[Ken Snow]

We find they have their place and do not have to cost more than traditional financing. Have to shop it.

 

[Zee]

Don't lease!


Buy!

Used...slightly used.

Or if you have somewhat of a creditworthiness buy new....but you are better off buying good condition used.

 

[cleann4kids]

I dont buy anything used!

Its easyer for me to finance something than pay cash.
i would rather have that money in my savings account.

I'm leasing my Inferno for 12k and with intrest it cost $15900
so only $3900 instrest for 5 years, I dont know
where double the cost comes from.

 

[XTREME1]

Find a leasing company in your area or a national company like direct leasing. I can not remember the company we used but what you get something like a line of credit from them and pick your equipment and they buy it and lease it to you. We expanded the restaurants so quickly we didn't want to use up operating capital on expansion so that is what we did for kitchen equipment, tables chairs etc.

Good luck


as for your inferno if you are leasing it the double is that it is no longer yours after the time of use

 

[RGH269]

Check with your bank most will do a lease, much more favorable rates than the blood sucker leasing companies.

 

[jcooper]

http://aztecfinancial.com/ did great for us.

Avoid this place like the craps http://www.onedegreecapital.com/why-one-degree/one-degree-capital-team

 

[Magic One]

Some good advice on leasing and don't forget to check with your CPA about leasing write off.I never used a porty just sayed and leased . Back in those days leasing was the way to go.

 

[Able 1]

http://aztecfinancial.com/ did great for us.

Avoid this place like the craps http://www.onedegreecapital.com/why-one-degree/one-degree-capital-team

If you lease from Aztec you will pay twice as much as the sticker price over 5 years or so... Expect your payment to be around $750.00 per month for 5 years. I've seen Jimmy naked

 

[Magic One]

How much down? Does the IRS give you a tax break.

 

[AJR]

If you lease "read, read read " the fine print. You will have to give the leasing company the right to repo your truck if the equip is stored in it. So if you lease only the equip to put in your "paid" truck they can take it too. They have the right to show up on your site to "check up" on the equipment with little or almost no notice. I think its a very tricky way to buy equipment. Go to you local banker or pull a home equity loan you will be better off.

 

[Zee]

Some of you have good advice here but the spelling and grammar is pretty bad..

Even the subject of the thread should be Companies instead of company's....I think...

Not to mention the constant mix up of: there, their, they're...or: here, hear, her...

List could go on and on.

 

[Ken Snow]

They are the same ones who will get taken advantage of in leasing Zee. Leasing is just another way to finance, whether to ultimately own or return the item. Biggeest difference is that in most cases the item stays on the Lease Co's books and payment are deductible as they occur, rather than having to Capitalize and Depreciate the item. Paying too much on a lease could be because of poor negotiation skills, ignorance or bad credit.

 

[GeneMiller]

leasing just like buying depends on your credit. the worse your score the higher the rate you will pay. it is very conceivable that two people will pay completely different amounts for the same machine. those of you who have paid double probably have bad credit and negotiating skills.

gene

 

[janitrex]

Dont lease! Find a local banker you can trust and see what kind of financing options they can give you. I have worked with my banker for 6-7 years and have a very good relationship with him. You will sometimes pay double when leasing and depending on the way its structured you may not even own it when your finished paying on it. I just bought a 2012 butler and got a finance rate of 3.5% for 5 years with an auto debit out of my account. Doubt a leasing company could offer you a deal like that. You didnt mention what kind of credit you have and how much your willing to put down?

 

[jcooper]

If you lease from Aztec you will pay twice as much as the sticker price over 5 years or so... Expect your payment to be around $750.00 per month for 5 years.

Come on guy, really? For 750$ you could have a flipping vortex. Or van and machine!

Our lease(with aztec) was for 17k our payment is 330 for 60 months.

19,800$ total with one dollar buyout! Hardly twice as much. So I'm paying 2800 over five years to use aztecs money.

Hathaway(if you want a hydramaster) and aztec seemed like the only honest ones to me and I shopped around for months. If you don't have 20k laying around how else you going to get a TM? Save for years killing yourself with a porty? I did that and wish I would have leased the tm sooner.

Also leasing requires insurance on the machine(because of the loan), add about 50 a month. Ours includes freeze damage, well worth it.

 

[mcatt]

Better to buy slightly used in good shape. The above comments are correct in the added cost of what your buying over the lease term.

 

[Able 1]

If you lease from Aztec you will pay twice as much as the sticker price over 5 years or so... Expect your payment to be around $750.00 per month for 5 years.

Come on guy, really? For 750$ you could have a flipping vortex. Or van and machine!

Our lease(with aztec) was for 17k our payment is 330 for 60 months.

19,800$ total with one dollar buyout! Hardly twice as much. So I'm paying 2800 over five years to use aztecs money.

Hathaway(if you want a hydramaster) and aztec seemed like the only honest ones to me and I shopped around for months. If you don't have 20k laying around how else you going to get a TM? Save for years killing yourself with a porty? I did that and wish I would have leased the tm sooner.

Also leasing requires insurance on the machine(because of the loan), add about 50 a month. Ours includes freeze damage, well worth it.

I just took over the lease(13 months) from someone else, and it seemed excessive to me(though his loan was more like $25,000). Maybe his credit sucked? I just thought it was the "norm" from what I've read.. After seeing your numbers I kinda want to buy again through Aztec at your rate. Actually if they would give me a payment like that I would consider buying another next year..

My First TM was bought with a no interest credit card and paid off my first year in business, I WAS A ROUGH FIRST YEAR! I've seen Jimmy naked

 

[jcooper]

Keith,

One more suggestion, I see you are in WI. If you are close to New Berlin, Wisconsin try Trident. Guy(Gene) hooked us up huge! No shipping charges(like 600$ normally) and free install(jondon wanted like 3k to instal). He also seemed VERY honest, unlike the big(distys) who seem like used car salesmen hoping to hit a home run instead of just trying to sell a machine.

Basically we paid list price plus taxes. When you are ready, call Trident.

 

[Shane Deubell]

Depends on the specific interest rate and terms.

Also how much revenue you can bang out in a year, $1k month lease is not a big deal to someone that can generate $200k a year from that set up.

 

[AJR]

Some of you have good advice here but the spelling and grammar is pretty bad..

Even the subject of the thread should be Companies instead of company's....I think...

Not to mention the constant mix up of: there, their, they're...or: here, hear, her...

List could go on and on.

I love my iphone J/K

 

[Doug D]

Hathaway Capital started me out 11 years ago. Went to Interlink Finance, (biggest joke) they have switched to Aztec now. Still think they are a joke! My lease for van and machine 45k, 875 a month for 66 months with a 4k buyout! Figure it out. If you can avoid it, go see your banker. Leases have some advantages, and disadvantages. To me, Aztec was NOT worth it.

 

[Zee]

Hathaway Capital started me out 11 years ago. Went to Interlink Finance, (biggest joke) they have switched to Aztec now. Still think they are a joke! My lease for van and machine 45k, 875 a month for 66 months with a 4k buyout! Figure it out. If you can avoid it, go see your banker. Leases have some advantages, and disadvantages. To me, Aztec was NOT worth it.

Wow...that is a bad deal. I bought a van and the machine for 45grand and put 0 down. 60 months $767.00/month

And I own it completely after the 60 months....none of these buy out nonsenses. Actually paid it off a lot sooner than 60 months.


I convinced Ford Credit that it would be a good idea that they paid for the equipment and tools and I just pay for the whole thing thru them...

 

[miksar]

I went thru Interlink/Aztec, am grateful for their help. But try to talk to them about something and you get handed off to accounting and then legal. Call them a week later and no one remembers or puts down anything in the notes. I called last week to get a payoff balance and they sent me someone else's info, if there is someone here named Duraclean here I'll fwd your info lol.

 

[SMRBAP]

If you are looking to put an entirely new rig on the streets (meaning you need a new vehicle too) - Ford will finance any permanently mounted equipment right in with the vehicle's loan.

In most cases the rate is better than a commercial leasing company, and even most banks commercial loans or lines of credit.

 

[Larry Cobb]

If you are looking to put an entirely new rig on the streets (meaning you need a new vehicle too) - Ford will finance any permanently mounted equipment right in with the vehicle's loan.

In most cases the rate is better than a commercial leasing company, and even most banks commercial loans or lines of credit.

I agree. Leasing thru the auto mfgs provides great rates.

Larry