It is the eternal debate of successful businesses: whether to lease or to buy power equipment. When you have the capital and you want to save yourself further expenditures down the road, you should most likely consider the advantages of purchasing and owning your own equipment. Although leasing gives you the advantage of lower payments for the use of the power, you continue to make those leasing payments well past the point when you could have paid for the equipment you are using. Owning it means that the equipment becomes cost effective once it is paid off, and contributes positively to the budget of your business. For long term fiscal stability, purchasing power equipment is a power move by your business.
When you decide to make that purchase, you should keep in mind five major considerations to further enhance the purchasing power of your investment:
- Maximize your down payment: Put together the maximum amount of money for the down payment. Just as with any other purchase, the more money that you can pay up front, the more money you save on interest payments down the road. You also double up on savings from the beginning, when including the costs of power saved when you chose to buy power equipment.
- Low interest: No matter how much money you place down, an interest rate that will remain stable is of primary concern. You may not be able to see how your business will fare in the future, and if you are unable to pay off as much of the loan as you wish due to capital concerns, low interest rates allow you to rest easy.
- Tax shelter: Most of the time when you buy power equipment, you can write off the expenditure as a business cost that becomes deductible come tax time. Consult with your CPA or financial advisor to ensure this is the case.
- Quality: Choose a line of power equipment that is known for its durability, reliability, and cutting edge technology. It does no good to buy outdated equipment, especially with government regulations on emissions. Ensure that your purchase will be around and saving you money for many years to come.
- Warranty: Protect your investment with the security of an extended warranty. While Depco Power Systems sells only the very best quality power equipment, warranty protection ensures that any accident that may happen will be covered by the terms of your sale. A good warranty protects your investment and guarantees durability.
Depco Power Systems is proud to stock and sell the very best power equipment for when you make your decision to buy. Consider the advantages of purchasing your own power for long term fiscal benefits.
