Under an equipment lease a lender leases or rents equipment or vehicles back to you for a pre-determined length of time at a fixed rate after purchasing the equipment on you behalf.
An Equipment Lease is also sometimes referred to as a finance lease or business lease and is generally best suited to businesses that use an off-balance-sheet method of accounting. This style of lending mitigates the risk of contingent liability because the equipment is not owned by you, or your business, and does not appear on your balance sheets.
Key benefits of Finance Leasing features:
- The GST is not financed at the time of purchase but it is still payed for you
- The repayments can be claimed as a business expense at tax time
- The Lease repayments will attract GST charges
- Flexible repayment option to suit your needs and those of your business
- Terms ranging from 1-5 years
No security is needed against the loan other than the equipment itself, so there's no need for further brick and mortar security
LKFS can compare a large amount of loans from all over the country to make sure the return on your investment is as high as possible, we've been doing it for over 21 years, so you can rest assured that you're getting the best deal available.