Find Out The Advantage To A Tanning Bed Lease

When adding new tanning beds to your salon it can be a difficult choice whether to buy or lease. There are many things that will affect your decision. It’s time to find out the advantage to a tanning bed lease.

The choice to lease or buy will depend a great deal on the number of beds you are considering buying, which styles of beds, which models, and even which manufacturers.

Leasing tanning beds isn’t much different than leasing a new car. Some makes and models offer much better leasing plans than others.

The choice between buying and leasing will depend a lot on how many beds you are looking, what style of beds, and which manufacturers. Different manufacturers offers a variety of financing and leasing choices.

If you don’t have a preference to a manufacturer, you should investigate all the options and find out who has the best choices to suit your budget. If you have a manufacturer preference check with several dealers who carry the beds you want, to see which dealer can offer you the best leasing options.

There are several advantages to leasing:
1. The monthly payments can work out to a great deal less.
2. At the end of the lease you have options – you can turn the bed back to the leasing company, or pay out the balance.
3. Leasing allows you to keep you salon fitted with the most modern beds.
4. You can choose the length of your lease reducing your payment size by increasing the term.
5. Generally you won’t need a down payment. You may need a security deposit or your first and last lease payment.
6. Leasing offers some tax benefits for your business.
7. Qualifying for a lease can be much easier than for buying. A common reason for leasing is if ones debt ratio is too high to allow for borrowing for a loan.
8. Your lease obligations are not classified as part of your debt load so they do not affect your overall borrowing power or debt to asset ratio.
9. You will always have the latest and greatest beds in your salon. Leasing allows for that to happen replacing your beds every couple of years.

There are some drawbacks to leasing too:

1. There is no equity in a lease. It’s more like renting than owning.
2. Your payments are endless. When your lease ends you will need to lease again or pay out the balance on your leases. Chances are you’ll want to keep your beds current so your lease payments will continue.
3. Getting out of a lease before it comes due can be hard on our pocket book.
4. You are limited with what you can do with your beds. Make sure you read your lease carefully for restrictions.

Tanning beds are continuously changing so when it comes time to replace your next bed why not consider a tanning bed lease? You’ll be glad you did!