Equipment Leasing Companies

Written by Eisla Sebastian

Every business needs some type of equipment in order to operate. Some companies require office equipment like laser printers and computers, while others require medical supplies like ultrasound machines and heart monitors. In order to keep their equipment current or to acquire the necessary technology to do business, many companies turn to equipment leasing companies to make their purchases more affordable.

Equipment rental and leasing services are located throughout the United States, and are often connected directly to the manufacturer of the equipment. For example, a manufacturer may develop three products and sell those products to the leasing company, who then rents them out to businesses. This arrangement provides affordable equipment to businesses in need, and ensures the manufacturer still gets paid up front.

Equipment leasing companies – who they are
Equipment leasing companies are companies that lease pieces of equipment to third parties. Most equipment leasing companies specialize in a single type of equipment. For example, a company may specialize in equipment for a medical or dental practice, or an office environment. In addition to leasing equipment, they also tend to offer maintenance packages for their equipment, supplies to operate the equipment, and delivery and pickup services.

Equipment leasing companies – how they work
When equipment leasing companies set up shop, they build an inventory of equipment that they plan on leasing to businesses. This equipment can be either new or used, but most often comes directly from the manufacturer. The companies' inventory is continuously being turned over and updated with the latest technology. However, older models are also kept in stock for parts and replacements.

When you go to an equipment leasing company, you browse through the company's inventory and select the models that you're interested in. If the showroom is not close to your facilities, a sales representative may bring a sampling of the equipment to your business to try out.

If you're interested in leasing a product, the leasing company will draw up an agreement. Usually this agreement will set out how much you will pay each month, how long you'll lease the equipment for, and what trade-in options you have. The lease will also generally offer you a service and maintenance package. This package will cover typical maintenance issues like replacing parts, troubleshooting problems, and fixing glitches. The lease agreement will also discuss who is responsible for insuring the equipment – you or the leasing company.

Finally, the equipment leasing company will service your account on a regular basis. This means that they bill you directly, collect payments, and update your account as needed. The company will also periodically check in with you to ensure the equipment works as you need it to. If the equipment doesn't meet your needs, the leasing company may make suggestions for upgrades to existing leased equipment or replacement units.

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