The end of the year is just around the corner so it’s time to make some last-minute decisions. Should you purchase that new machinery, copier, or computer system before December ends? Look at these factors to quickly make your decision:
- Can the Section 179 tax depreciation deduction financially work for you?
This deduction will change in 2012 so find out from your tax provider today if you should take advantage of this in 2011. Changes slated for 2012 affect purchases with equipment, such as computers, vehicles and phone systems.
- Are there application fees?
Can you afford to pay applicable fees in 2011? Look for lenders with low application fees or deferred payments.
- How long will it take to process your financials?
If you are looking to get a loan or a lease, how long will it take for the lender to review your financials and approve your request? Ask if you will receive payment before the year ends and still have enough time to purchase the equipment.
- Do you have time?
Are the holidays a busy time of year for you? Do you or someone in your business have time to handle financing arrangements? Consider the opportunity cost of handling lending preparations versus managing current sales of your business.
- Have you done your research?
Have you determined the best lending option for you? Here’s a quick synopsis of lending options.
Ready to purchase your business equipment?
If this is the right time to purchase your business equipment, call your lender today! Consider Advantage Leasing for your business equipment needs. Using leasing to fund your equipment allows you to conserve the cash typically required for the bank loan down payment, and preserve the company’s bank borrowing capacity to support the company’s anticipated growth. And leasing can give you the much-needed tax benefits. We will work quickly and efficiently to get your lease processed and working for you.
Contact us online or call us at 800.949.7040.