Test Equipment Leasing?

Joined
Sep 7, 2017
Messages
71
Location
Indiana
#1
Does anyone have any experience with leasing test equipment? Our shop is in need of a new service monitor and we're considering leasing one. I just started trying to get quotes, but I was wondering if anyone had a good relationship with a leasing company or any advice on the topic.
 
Joined
Jul 19, 2007
Messages
1,541
Location
NW Ohio
#3
Your accountant can tell you if leasing is advantageous to you. When I worked for Motorola C&E, they had a program to lease their service monitors. I never dealt with it, all of my sales were outright sales. I would guess that other 2way radio suppliers would either have a lease available or a relationship with an equipment supplier to lease test equipment.
 
Joined
May 6, 2011
Messages
82
Location
Newport Beach, CA
#4
Leasing is good for small companies or individuals without assets to back up a bank loan. With leasing, the leasing company retains ownership of the equipment to the very end of the lease and usually offers a simple & cheap buyout. This allows the leasing company to repossess the equipment for non-payment, without going to court first. Bank loans are to you, and the bank usually only has a security interest in the equipment, through a "UCC-1 filing".

Local banks sometimes offer leases or other financing of office & shop equipment at reasonable terms. The test equipment vendor usually can arrange lease financing, as they often times provide "recourse" to the lender.

My first lease was in 1976 for a Wang computer system that cost more than my home. It was through Bank of America.

Always read the terms and do not go with a bad deal. Make sure you can pay off the lease/financing with insurance proceeds should your equipment be destroyed by a fire, or by theft, without paying the interest for the full finance term.
 
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