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advice please on leasing/buying a business
I am looking at leasing/buying from this place called Beacon Graphics as they are not real far away. There is another place online called The Sign Warehouse too…but I’m not sure about them.
Any advice on equipment/leasing/starting or anything would be greatly appreciated.
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8 Replies
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Jamey,
i see that you are in the US so tax and accountancy practices and laws may be different. However, here in the UK, leasing is not so advantageous.
Leasing, Contract Hire, Lease Purchase, Hire Purchase, Bank Loan, call them what you will, they are all just fancy names for borrowing money and you will pay for the privilege.
What I would say is do NOT take out an agreement for a longer period than the expected useful life of the machine.
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I would only lease for a year at most. It would have to be a good program too. I will have the info next week on the program. As soon as I knew I was gonna do alright…I’d buy.
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Here In Australia Leasing is a great option. Doesn’t tie up your cash flow, you get updated equipment at the end of your term. Only problem if your a start up getting a lease agreement can be rather difficult to obtain especially if you can’t personally guarantee the loan.
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We leased all our equipment with the option to buy out at the end. Yes with the lease there is the interest on the amount, so generally you pay more than if you were to buy outright. The beauty is that you can write off the tax on the payments.
We own all our equipment now.
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there is no advantage in the uk when leasing, the lease company will point out the adantages, but at the end of the day buying on on hp or loan, works out at very little difference, tax wise, the best option is always to buy outright, and negotiate a discount,
you will get nowt for nowt, as any Yorkshireman will tell you,Peter
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I just did a price comparison on a new plotter from Beacon Graphics and they were pretty high compared to some of the other options out there… including signwarehouse. You might want to look into leasing from someone else.
But why lease when you can get started pretty easy on a $1500 plotter?
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For 1500…will it Print too?
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Naw.. who needs to print just starting out?
I guess I’m not much of a gambler… but I’ve been rolling with my old plotter for years… Have good friends local that mess with the printing and give it to me at a good cost… I’m just now thinking of taking that step… maybe.
Course, most of my clients are small biz folks… Seems like most jobs that come by my shop don’t require much.
But that’s just my two cents. Everyone has different circumstances.
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