Deb’s Equipment Leasing Blog – Page 4

Drive with peace of mind!

Dec 3 , 2017 by Deb Sands

Last month, we were pleased to be a part of the expansion and equipment renewal project at Cochrane Image Autobody! A family-owned business with locations in Cochrane and Calgary, Cochrane Image Autobody is now using state-of-the-art equipment to restore damaged vehicles to the beautiful, pristine condition they were in before the accident. It was a pleasure to meet Dave Fox, the owner of both locations and learn how his talented “artists and car surgeons” work hard to “sculpt” and “paint” a damaged car until it is efficient, perfect and roadworthy.

In the old days, when someone mentioned “leasing” everyone thought about cars. Today we lease equipment to diagnose the cars, fix the cars, straighten out the bent cars and paint the cars. Oh, and we still lease used cars! If it’s a new car you need for your business, go with the dealership as they will have the best financing from the manufacturers. Anything else – we’re your team!

In the market for new equipment but can’t afford to buy?

Oct 2 , 2017 by Deb Sands

If you are in the market for new equipment or technology for your business, but can’t afford to buy it, leasing is an option to consider.

Instead of buying the equipment or technology outright, leasing allows you to make smaller monthly payments, typically, over a multiple-year period. At the end of the lease, you usually have the option of simply returning the equipment, or buying it for a price that factors in appreciation and how much you paid over the life of the lease.

Leasing equipment in general, however, is very common, especially when acquiring the following categories of equipment.

Here are the top 5 most popular items leased:

1. Commercial vehicles. Owning, running and maintaining a fleet of vehicles can cost you a lot of time and money. If your company uses passenger vans, delivery vans, box trucks, tractors and trailers, or any other vehicle to conduct daily business, leasing might be a solid option for you. From nursing homes that transport groups of residents to activities around town to trucking companies, commercial vehicle leasing is a popular financing option.

2. Medical and laboratory equipment. Most of us consumers have experienced the high cost of health care. Some of that cost can be attributed to the equipment that doctors and dentists need to provide effective diagnosis and treatment. It’s expensive. For many practitioners, leasing items such as X-ray machines, lasers, MRI and CT scanners, and even surgical tables enables them to keep their costs down. Medical and dental equipment leasing is very popular choice.

3. Construction equipment. Equipment leasing is often the first choice for general contractors, roofers, remodelers, home builders, and excavation companies. Heavy construction equipment can be extremely costly, so these companies often find success in leasing dump trucks, backhoes and other earth movers, survey equipment, loaders and more.

4. IT equipment. No matter what business you’re in, you will likely need an IT backbone to support your operations. So it’s no wonder that IT equipment is one of the most popular types of equipment leased. Computers, servers, software, telephone systems, networking and cabling can be leased.

5. Manufacturing and industrial plant equipment. An especially costly category of equipment is in the manufacturing and industrial sector, making it a popular equipment leasing category as well. A manufacturer can lease revenue-producing equipment such as stamping and forming machinery, forklifts, welders and conveyor systems. Leasing is a popular choice when a company does not want to use up its operating cash.

Priority Leasing has over 24 years of experience with negotiating lease financing on all of the most popularly leased items. Ask yourself the following three questions before you get started:

1. What is your monthly budget? Leasing offers substantially lower monthly payments in comparison to purchasing. But it still has to be factored into your monthly cash flow.

2. How long will the equipment be used for? For short-term use, leasing is almost always the most cost-effective way for businesses to go. But if you’re using the equipment for three years or more, a loan or standard line of credit may be more beneficial than a lease.

3. How quickly will the equipment become obsolete? Technology is more likely to become outdated more quickly than other types of equipment. Consider this before deciding whether a trade-in makes sense for you.

If you need to lease any of the above equipment, contact us to see how we can help you get started!

The price of oil is the focus of much attention these days.

Sep 18 , 2017 by Deb Sands

Recently Premier Rachel Notley expressed optimism about the Alberta economy “We have a way to go but I am pleased to say that we are making progress,” she said. “Since last year’s Stampede Investment Forum, the Alberta economy has added more than 47,000 new full-time jobs. When people get back to work our entire economy sees the benefits.”

On the subject of energy, Notley made a strong case for pipelines to tidewater ports for oil and natural gas exports and stressed Alberta is an environmental leader with a Climate Leadership Plan that “is the most forward looking and aggressive of any jurisdiction in North America.”

The price of oil is the focus of much attention these days. It’s been a tough few years with weak demand and low prices. For many oil and gas companies, both large and small, it has been difficult to make strategic decisions and plan for the future.
A number of important global commodity research groups, including Commerzbank, Goldman Sachs, Morgan Stanley, PVM Oil Associates, IHS, and BNP Paribas have issued recent reports touting what has been very strong oil demand growth in 2017. According to Alberta Oil and Gas Industry Quarterly Update…” Alberta’s vast crude oil and natural gas resources are the backbone of the provincial economy and a vital element of Canada’s economy. In fact, energy development is the largest contributor to the province’s gross domestic product, capital investments and exports.”

With that in mind, a lot of small Oil and Gas companies are emerging, and many without the capital to buy the equipment they need. Many energy companies have to adjust their business models to re-build in a period of recovery. In Alberta, the advanced drilling and hydraulic fracturing technology is being used in an increasing number of oil plays, so newer equipment is needed.
These days, just about anything can be leased–from drilling equipment to compressor systems to fuel storage tanks to complete offices. The kind of business you’re in and the type of equipment you’re considering are major factors in determining whether to lease or buy. Leasing equipment gives you more flexibility; lease and pay for the oil and gas equipment only when you need it.

Leasing advantages include: making lower monthly payments than you’d have with a loan, getting a fixed financing rate instead of a floating rate, benefiting from tax advantages, conserving working capital and avoiding cash-devouring down payments, and gaining immediate access to the most up-to-date business tools.
The oil and gas pipeline industry is a specialized field and trying to find financing for the heavy equipment needed on the job can be complex. That’s why it’s important to find a lessor that has experience in the industry. The right finance expert will provide personal service that will be invaluable when navigating the often treacherous financing waters.

We at Priority Leasing understand that oil and gas is a very specialized industry, and as such, it can be tough to finance such unique equipment through a standard banking institution. As a direct lender and finance solution provider who specializes in the oil and gas industry, Priority Leasing can recommend all the best practices for securing heavy equipment financing and finding the right finance partner for this specialized business. Contact us today to discuss your needs!

Equipment Leasing

Aug 21 , 2017 by Deb Sands

With the success of your business comes the increasing demand for your time and resources, which as an entrepreneur you will know are both very precious entities.

Many businesses depend on equipment to get the job done. And for some firms, new equipment might make the difference between inaction and expansion.
There are lots of different ways you can fund large equipment purchases.

Equipment leasing…
From Heavy equipment, to machine tools, construction equipment and manufacturing equipment -if it lifts, shifts, dozes or loads, you can probably lease it!
Equipment leasing is an efficient way for new-start businesses to get hold of the tools they need, as well as a great way to keep your inventory of assets in excellent shape. Here are a few benefits of leasing your assets:
• regular upgrades,
• servicing,
• tax benefits,
• cash flow management.

Would you pay your rent several years in advance? Probably not — so why do the same for your business’s equipment? That’s where equipment finance comes in. Equipment finance in most of its forms gives you predictable payments so you can spread the cost over time.

Typically there are two types of equipment leasing, known as Operating Leases and Finance Leases, which offer a range of different time frames as well as levels of commitment, depending on what equipment you require.

There’s a huge amount of industries and sectors eligible for equipment finance. We at Priority Leasing can help you find equipment finance for:
• Heavy Equipment
• Bar and pub
• Restaurant
• Café, bakery and coffee shop
• Events, including Tradeshows
• Agriculture and farming
• Finance for a garage or mechanic
• Laundry and dry cleaning equipment finance
• Manufacturing and heavy industry
• Office and IT equipment
• Racking warehouse equipment and shelving
• Refrigeration and air conditioning

As a matter of fact, we recently leased a new forklift to a great local company called “The C Can Store”. They’re expanding into Saskatchewan. I kind of lost my nerve at the 6′ high mark! (pic)

Priority Leasing’s team can design a financial solution to resolve most forklift finance problems. In partnership with dealers and manufacturers as the need to add additional flexibility in major applications can be addressed, in particular the need to exchange or return part of the fleet due to changing demands. Priority Leasing can purchase your existing fleet so that you can enjoy the benefits of one of our unique purchase and rent-back schemes. Whether your fleet is large or small, operating from a single location or as part of a national network, a Premier scheme can be designed to match your specific needs.
Priority Leasing has spent 20 exciting years in the equipment financing industry. We are a 100% Canadian owned and operated equipment leasing company servicing clients across Western Canada in Alberta, British Columbia, Saskatchewan and Manitoba. Whether you need equipment for a startup or an established business, we can help you GROW!

You can reach us by calling (403) 216-1930 or via email with our Website’s contact form.

Getting to the Next Level…

Aug 10 , 2017 by Deb Sands

When striving to take your company to the next level, it’s important to first set yourself attainable business goals. You should also consider the hurdles that might thwart your progress along the way. Setting reachable key points in your business development enables you to measure your progress and track your achievements.

You should also have a vision of where you want your business to be two, five or ten years down the road. As the business grows, you may realize the one way to get to the next level quickly is to upgrade your equipment. If our sluggish economy has hampered your finances, leasing can be an effective way to access expensive items that your business needs to flourish today!

Leasing is essentially a method of renting an asset for a period of time and it can help many businesses get to the next level. On this blog we’ll look at some of the key advantages and disadvantages of equipment leasing.

There are basically two types of equipment leasing:

Operating Leases,
Finance Leases

Between these two forms of leasing , there are many different ways to get new or used equipment for your business.

You can lease almost anything!

Business owners are often surprised by the massive variety of equipment obtainable on a lease. In fact, most catering equipment in restaurants and hotels is on a finance lease, as are many pieces of high-spec plant machinery. Chances are the gaming machine in your local pub is held on a lease too!

Office fixtures and furniture, printing equipment, large coffee machines, commercial vehicles — it’s almost limitless what lenders will offer leasing finance on.

As well as being a good way to access expensive equipment, leasing can also be useful for subcontractors with a series of short term projects lined up, who want a “rent-to-own” option.

Immediate access to the equipment your business needs…

Rather than having to wait for adequate savings or the profit to roll in, leasing equipment means it can arrive at your door within days. You can also get a much higher standard of equipment than you might otherwise be able to afford if you purchased it outright.

Get your budget under control…

Leasing is good for future budgeting, because you will make fixed monthly payments and not be subject to “floating rates”. Also, depending on your industry, you can negotiate payments that fluctuate with your seasonal income. Finally, installation, training and maintenance agreements can be included in the lease.

A Lease will free up other finance options!

Since the finance is secured on the asset, it’s not like a traditional bank business loan, so you might still be able to borrow money for other business purposes besides new equipment.

Equipment leasing is an efficient way for new-start businesses to get hold of the tools they need. Lenders usually specialize in different forms of leasing, such as finance leasing, lease rental ,operating leases

Priority Leasing has spent 20 exciting years in the equipment financing industry. We are a 100% Canadian owned and operated equipment leasing company servicing clients across Western Canada in Alberta, British Columbia, Saskatchewan and the Yukon. Whether you need equipment for a startup or an established business, we can help you GROW!

You can reach us by calling (403) 216-1930 or via email with our Website’s contact form.

Romancing The Copier

Jul 1 , 2017 by Deb Sands

To operate successfully in today’s competitive market, especially during this recession, businesses need to have the most up to date equipment.

For instance, your copier has finally given up the ghost… and as you know, office equipment can be extremely costly and many businesses simply couldn’t afford to buy printing or computing devices if they had to purchase outright.

Leasing contracts for office printers enable businesses to use exactly what they need, but at prices that are easy to budget for, along with substantial tax benefits. When you take out a leasing contract, the equipment is delivered and installed. You then simply pay the agreed monthly or annual fee for the duration of the agreement (usually somewhere between 1-5 years).

Servicing, maintenance and even consumables can be added, although the equipment remains the property of the provider throughout. Once the contract ends, the equipment is returned, upgraded or sometimes purchased at a substantial discount.

Whether you are buying or selling business equipment, leasing makes investment easy and quick…. for you and your customers.

Minimise risk – protect yourself from depreciating technology costs
Release cash – free up your money in other areas to drive growth
Eliminate uncertainty – fixed rental payments help you budget and plan

Deciding whether you should rent or purchase a printer, photocopier or multifunction device will come down to the volume of your printing needs and how much budget there is for an initial outlay. It may be that you only need a low cost, low volume device, which would probably work out cheaper to buy.

However, for more expensive and higher volume machines, the initial cost may be too great, or you may wish to spread out the costs of servicing and consumables. In which case, renting your printing equipment could be the perfect solution. Before you decide, make sure you work out the cost per page of each option.

Oral Health Care is not all about a trip to the Dentist ‘s Office…

Apr 1 , 2017 by Deb Sands

With other dental professionals now allowed to be a patient’s first port of call for oral healthcare and treatment Dental Hygienists may work in a wide variety of practice settings including in their own practice, or independently within a dental health team providing routine dental assessments, extractions, pain relief, simple restorations and all other treatment that can also safely be carried out in the home In Canada, regulations vary from province to province, but a dental hygienist’s work often includes:

Taking X-rays,
Taking dental impressions,
Cleaning, polishing and applying fluoride to your teeth,
In some jurisdictions, the dental hygienist may also be allowed to perform a basic exam.

You like your job, but want to change your work environment and enjoy more freedom. Sounds like you? The good news is… that with a new wave of dentistry, mobile hygienists can clean teeth anywhere!

Practicing in your very own independent dental hygiene clinic or even a mobile clinic may be a dream of yours, not to mention, the general public is expressing their need for direct dental hygiene services. Why not answer their demand for services?

Okay, let’s say you’ve already targeted your market, and you are aware of your unique niche. Your next step is to define the equipment and the marketing material needed and then define the capital and time needed to start!

What are basic costs for a fixed dental clinic, a mobile clinic, and a clinic using portable equipment?

Though business plans are never mentioned in dental school, they’re one of the highest indicators for long term success. Long gone are the days of being able to work out of a house, hang a shingle and make a nice living.

Those days are gone…

I found this great chart online to “quickly” compare costs for fixed clinics depending on size and staffing issues. Cost figures for mobile clinics and clinics using portable equipment are also included. Main topics in the chart are discussed separately and linked to more detailed information. Reviewing this chart should enable you to determine what size facility you can afford to build and staff.

As a sort of “dentist on wheels,” a mobile hygienist brings the dental office to patients, unfolding the dental chair wherever necessary. Mobile dentists/hygienists are on-site, dental outreach providers that can clean teeth anywhere, from schools to senior centers to offices. Your goal is to provide everyone with the necessary access to have a healthy smile and overcome problems like gingivitis, tooth decay and chronic halitosis.

As the dental hygienist has a vital role to play in informing the patient about the nature of the disease in their mouth. The education may be personalized by the use of intraoral cameras and phase-contrast microscopy which allows the hygienist to demonstrate plaque organisms magnified, which are some of the pieces of equipment that may have to be purchased for your new practice, along with:

Portable dental chair
Portable unit – delivery system Instrument/supply case
Operator’s stool
Low speed handpiece Curing light Head Light
Disposable material and supplies such as varnish, bibs, cups gloves, gaze and masks
Ultrasonic Scalers
Polishers

It makes sense that you would want and expect to use the latest, state-of-the-art technology and equipment for treating your patients. However, the initial cost involved for the outright acquisition can be prohibitive, and is often accompanied by an immediate and noticeable reduction in available cash flow.

E-bay and Craig’s List could also be a useful resource for comparing and getting the best deals on equipment and supply.

Buying vs. Leasing

The planning process is a huge undertaking. Coordinating over a dozen vendors and getting their timing right, the financial disbursements right and matching them all with your vision is a large scale project. With each use the value of a dental unit quickly falls and to all intents and purposes, in terms of investment, a piece of equipment, after two years of regular use, like a car, is next to worthless. Yes, dental units and X-ray devices, will probably last 15 years. However, during that time they would start to cost more in repair bills and maintenance than if they has been leased for five years and then updated. It would also arguably be in your best interests, from a competitive perspective at least, to be seen to update your practice equipment regularly.

As most accountants would say, it almost always makes good business-sense to take out a loan for a new dental practice, even if you can pay cash for the project (but call the accountant for advice on your specific situation, please). Some have the luxury and option of not needing a loan.

Don’t be fooled by thinking the Banks with the “low rate” are the right partner for your practice. Have you seen how many pages of paper loan documents consist of? Count how many of those pages deal with “rate”.

The point is this: there is much more to choosing the right bank than the rate. Banks who are wrong for your practice may have an attractive rate but their knowledge of partnering properly with a dental start up should never be at your expense. Make sure you have the right bank on your side!

The good news is that you can lease almost all of the equipment in your practice. This particularly applies to anything that has a high ‘wear out’ factor. Sterlization devices and IT systems, for example, are items that you should never really consider owning outright because their ‘wear out’ factor is so high. Therefore to have the option of renting or leasing such products, where you have built-in options for upgrading at the end the contract, is a really good idea. Leasing is a sure fire way to avoid depreciation, reduce maintenance costs and ensure you stay ahead of your competition by regularly renewing your equipment and facilities.

Priority Leasing offers competitive leases on a wide range of dental equipment and supplies. From the latest ergonomically designed dental units to state-of-the-art X-ray devices and IT solutions, leasing your practice equipment could save you money and time. Note: ANY business under 2 years old will require the owner of the business to co-sign. For more information contact us today and get your practice ready for Spring!

NEARLY 8 IN 10 BUSINESSES USED FINANCING

Feb 21 , 2017 by Deb Sands

According to the U.S. Equipment Finance Market Study: 2016-2017. The survey also shows that 68 percent of the total value of equipment and software acquired in 2015 was financed and total public and private investment in equipment and software grew 4.0 percent in 2015, to $1.5 trillion.

Key Findings:

Overall Propensity to Finance Increased as Use of Leases and Secured Loans Grew, Share of Cash Purchases Declined.

Highlights include:

• Growth in investment in equipment and software is expected to accelerate slightly in 2017, growing at a 3.0 percent rate. By 2020, total investment in equipment and software is expected to reach $1.8 trillion.

• The market for equipment and software financing is projected to reach $1.24 trillion in 2020.

• Sixty-eight percent of all equipment and software acquired in 2015 was financed. Of that, 39 percent was leased, 16 percent used a secured loan, and 13 percent used a line of credit. This represents a major shift toward the use of leases and secured loans, which accounted for only 17 percent and 9 percent of the total value of financing in 2011, respectively. This also marked a significant shift away from lines of credit, which accounted for 29 percent in 2012.

• While banks share of financing activity has decreased, they remain the primary lenders across all equipment types. Non-bank lenders’ share of equipment financing includes 30 percent for manufacturers and vendors and 16 percent for non-bank independent financing companies. .

• Banks continue to focus their new financing efforts on companies with lower risk profiles. The share of bank financing of highly profitable companies (profit greater than 20 percent of sales). Meanwhile the share of bank lending to unprofitable companies declined to only 26 percent, as less profitable companies were forced to seek alternative financing options.

• The share of cash purchases declined for companies of all sizes from in 2015. Low interest rates, strong competition among lenders and abundant liquidity have made financing equipment acquisitions especially attractive as lenders compete to offer the best rates to borrowers.

• The 2016 Foundation survey confirms that larger ticket purchases are financed to a greater degree than smaller ticket purchases.

From computers and heavy machinery to complete offices, it is possible to lease almost anything for your business and as you can see above, more and more business owners are realizing the benefits of leasing their equipment.

“Buying things can feel good. We all know that.”

Many executives with knowledge of the leasing and finance industry indicated that customers are increasingly asking for managed solutions or bundled services and usage-based products. They understand that advantages include getting your hands on needed equipment without paying the cost up front.

Lines of credit stay freed up because the leases are not bank loans, and lease payments can potentially be deducted as a business expense. It is also possible to easily upgrade equipment once a lease expires.

Recently I was chatting to a business woman (a blogger) who had to upgrade her equipment. She mentioned she paid $2,600 for a top-of-the-line Apple MacBook Air and then said to me “I already know that after a year or so I’ll get the itch to upgrade, at which time I’ll shell out another couple of thousand dollars for the latest model.” I asked her if she ever looked into the benefits of “Leasing” her top-of-the-line computers. She mentioned it was something she’d always avoided, mainly because she doesn’t like the idea of not owning her equipment.

I assured her I understood her “need to own” mentality but also reminded her how computers and other devices age quickly. When you buy, you’re stuck with outdated technology after a year or two. When you lease, you’re able to exchange a piece of obsolete equipment for the latest model once the contract expires.

I mentioned a few other benefits of leasing including the tax benefits which immediately caught her attention as a self-employed writer. Often lease payments can be deducted as business expenses (without the messy depreciation calculations). I also mentioned about “low costs in the short term”. By leasing, you get the tools for your business without paying the full cost upfront. Payments are regular and fixed which makes budgeting easy.

After our conversation, she called back a few days later and said she had an epiphany. The question she will ask herself whenever it comes to acquiring new equipment going forward – will be…: “Would I buy this at a rummage sale five years from now?” More often than not, the answer is no. And if that’s the case, it’s not something I need to own (but if I still want it, maybe leasing is the way to go).

She added “Buying things can feel good. We all know that. But now that I’m armed with a more businesslike approach to my purchasing decisions, I can hold my impulses in check whenever there’s something I need (or simply want) for a job or contract but will likely never use again. Done right, this approach should leave me with more money in my retirement account–and a lot more space in my office storage room.”

Businesses‘ choose Priority Leasing because they can acquire the capital equipment they need at a low, fixed monthly payment. With Priority, you choose the equipment and vendor – we provide the financial support. We have the resources to make the process simple for you and beneficial to your budget!

Keeping your Eye on the Bottom Line.

Jan 27 , 2017 by Deb Sands

Whether you are in your last year of optometry school, or already practicing, opening your own optometry practice may be on your mind.

Fast facts*

The average Canadian optometrist in practice earns $70,000 to $80,000 per year, excluding benefits;
How long does an optometrist stay in the career? Typically life-long, until retirement;
There are approximately 3,000 practising optometrists in Canada.
Building an Optometric practice from the ground up can be the challenge of a lifetime. You’ll most likely have to borrow capital in order to start your new practice. This includes funding for build-out construction, equipment, inventory and working capital. The true cost of opening an optometry practice varies tremendously, usually equipment costs will be higher, depends on new vs used, purchase vs lease. Some costs to consider are:
size of your venture
number of exam lanes
equipment needed
inventory
number of employees and much more!

Starting your own practice can seem like a daunting feat. While there is no handbook that guarantees you success, there’s no shame in starting with less than what you may imagine for your ideal practice. Diagnostic technology can and should be added over time, based on your patient volume.

Many pitfalls can take a new business owner by surprise. Regardless of how long you’ve been in practice, recognizing and avoiding potentially costly errors is essential to laying a strong foundation for financial success.

Buying Too Much Too Soon

When setting up shop, it can be tough to resist going on a shopping spree for the latest equipment, especially with the number of advances in eye care technology over the past decade. You’ve just finished studying about what equipment is out there, including:

· Autorefractors

· Fundus cameras

· Tonometers

· OCT Imaging systems

· Digital test charts

· Topographer

· Keratometer

· Lasers

· Combi units

· and Blocking / Edging equipment.

As a start-up business, which (if any) of these expensive pieces of equipment is needed in your new practice? Overspending on equipment is probably the biggest draw on start-up capital.

Start-Up and Overhead Costs: When starting up a new practice, usually start-up costs include: capital costs for equipment and leasehold improvements. The majority of overhead costs arise from the inventory of lenses, frames, contact lenses and lens solutions.

Revenue Sources: Optometrists are paid at the time services are provided. An optometrist’s earnings are determined by several factors including: coverage under provincial medical programs, fee schedules, hours worked, practice location, services provided and patient population.

Based on initial patient volume, what is the cost vs. return and will it justify the expense? Will delaying the purchase of such equipment impact the long-term success of your practice?

Overspending on equipment is probably the biggest draw on start-up capital.

In fact, adding more equipment as the practice progresses may provide a great opportunity to reconnect with your returning patients. However, it’s also important that you don’t go to the other extreme by investing as little as possible in frame inventory. It may lower your start-up costs, but it could also affect how patients perceive your practice and stunt your revenue growth.

As a growing company I’m sure you are constantly investing in new technology and equipment, but do you have an ongoing refurbishment program?

As a practice owner, you are essentially an entrepreneur. You need to take care of managing and marketing your business in addition to practicing optometry and maintaining good relationships with your patients.

The best businesses are usually run by people who are innovative, entrepreneurial and also have a keen understanding of how to look after their money and how to make it work for them with as little risk to them and their businesses as possible.

Buying vs. Leasing – What’s right for your Practice?

It is as crucial to understand both when to invest and when to save, as how to invest and how to save. Study your options. Purchase vs. Leasing?

Obtaining state-of-the-art retinal imaging devices to incorporate into your practice sounds like a no-brainer. Right? Wrong. While it’s true most eye care professionals (ECPs) want to keep up with the latest technology and offer their patients the very best in diagnostics, it’s also true that these machines can be expensive. All of which begs the question: Is it worth buying or leasing?

If you are in the market for new retinal imaging devices you need to be careful with your selection. Does your purchase have trade-in value if newer technology arrives? Are there maintenance costs? Will you obtain enough return on investment and improve efficiency with this new technology? These are important questions to ask yourself before you invest your capital.

Devices that are likely to become outdated or that have poor software upgrades are not ones you want to purchase. Ranging from the acquisition or relocation of a practice, a shop fitting revamp, new technological equipment, or simply a loan to meet your tax demand we have a solution to help. Contact us today to discuss how you can keep your “Eye” on the bottom line by learning which option is the best for you!

*Source: http://uwaterloo.ca/optometry

Should You Buy or Lease Heavy Equipment?

Jan 10 , 2017 by Deb Sands

New assets are an essential part of business growth. But finding money to acquire them can impact other areas of your operation. There is no need to sacrifice your company’s image or increase insurance liability and costs by utilizing the wrong equipment for the job.

Your business requires only the best equipment in order to run properly, but sometimes the best equipment is financially out of reach. Heavy equipment is expensive to buy new, and used equipment may be affordable but not reliable. When you’re buying or selling, there’s more to consider than just age and condition.

If you’ve ever bought or sold heavy equipment, you know there’s a lot at stake – even if it’s just one excavator, a bulldozer, or a dump truck.

Why chose equipment Leasing?

 A new credit line, not affecting bank overdrafts
 Keeps your working capital for day to day requirements and needs.
 Spreads the cost of the equipment over the life of the equipment.

Here in Alberta, we may not be out of the downturn just yet, so why tie up valuable cash reserves in costly construction equipment acquisitions?

Equipment leasing is much more than a form of financing. It should be seen as an overall strategy for managing your equipment.

Although leasing for tax purposes is different when the lessee is in the US, there are still many other compelling reasons to look at different financing options. The link below takes you to a great article I came across entitled “Should You Buy or Lease Heavy Equipment?” The article is written by Dallin Hawkins from Integrity Financial Groups, LLC”.

Priority Leasing also offers creative equipment financing, complete with skips, steps and balloons. Whatever you are looking for, in either equipment leasing or business finance, we have both the experience and knowledge to help you. Feel free to contact us: https://priorityleasing.net/