easing or renting assets (eg machinery or office equipment) can save you the initial costs of buying them outright.
- you’ll have access to a high standard of equipment that you might not have been able to afford otherwise
- interest rates on monthly instalments are usually fixed
- it’s a less risky alternative to a secured bank loan – if you can’t make payments you’ll lose the asset but not, for example, your home
- the leasing company carries the risks if the equipment breaks down
- as long as you make regular repayments for the period of the lease, the agreement can’t be cancelled
- it’s widely available