Equipment Leasing

If your company needs costly new equipment but can't afford the expense, don't fret. The best equipment leasing companies can help you secure the equipment you need by spreading your payments out over time. That lets you use your capital to grow your business and put the equipment to work immediately.

First, whether you use BuyerZone's free request for quotes service or do your own research online, make sure you talk to at least four to six providers. Multiple interviews will familiarize your with the types of questions the best equipment leasing companies ask. In addition, the types of sales pitches you encounter can make it clear which companies are interested in getting you the best rates and services - and which just want to sign you to a long-term agreement.

Once you have providers to talk to, make sure each of them asks questions about your business. The best equipment leasing companies will learn what you want to lease, how you'll use the equipment, what your financial situation is, and whether or not you'll encounter some lean business periods. That way, they can set you up with the right payment plan. If possible, look for companies that focus on the specific equipment you need rather than a very wide range of equipment.

Each provider should prepare specific details of a leasing quote in writing. You should know how your quote was calculated and whether or not they've factored in the results of your credit report. Also, make sure to get the final, guaranteed quote after any changes are made - the best equipment lease companies won't leave you in the dark.

As with any business, the provider you work with should have a lot of experience securing leases for their clients. It's always best to find business lease companies with a long track record of success helping companies like yours secure leasing with the most favorable terms.

Additional characteristics of the best equipment leasing companies

• Clearly explain your different leasing options
• Provide quality references that you can contact
• Members in good standing with a trade association like the Equipment Leasing and Finance Association (ELFA)
• Upfront about your credit background
• Negotiate better deals for equipment coming off another lease
• Allow you to easily upgrade your equipment at the end of term

Ultimately, the best equipment leasing companies are those that treat your business like a partner, taking the time to understand your needs so they can offer a solution that you'll be happy with for many years to come. And the first step in finding the best equipment leasing company is using BuyerZone's free equipment leasing quote request service to get connected to qualified suppliers in your area.