Leasing, Bank vs. Private Company - tanTALK

susanlatte · 03-29-2004, 01:14 PM

Has anyone gone thru their bank for leasing equipment???

What are the differences bank vs. private leasing company??

wyldekat1 · 03-29-2004, 11:05 PM

The best advice I can give you is to Research, research and research some more! I manage a fitness center and we are in the process of leasing a tanning bed now. Con - you pay more than outright purchase, Pro - little out of pocket immediate expense. OUr current budget did not allow for an outright purchase, so we (me and the powers that be) decided to lease on a 3 year term. Personally, I would rather purchase, but that's not always possible.

susanlatte · 03-30-2004, 02:34 PM

Thanks for the advice.

I still haven't made up my mind about this.

river_brat · 04-18-2004, 11:50 AM

check fully with the bank about leasing. I was looking into adding another unit to my bed and went through my bank and they told me they do not lease tanning or fitness equipment, and ATM machines because of the liability. Also look into the aspect of how much you would end up paying at the end of the lease. Is it worth it? If I were you I would speak to a financial advisor and see what your options are for the best programs that would fit your needs. We have no idea of your money situation to tell you what would be best for you. Research, and once you think you understand, research it again!!!

Steve Underhill · 04-21-2004, 06:09 PM

You probably can not get a lease through your bank. If you have a relationship with your bank you can probably get a signature loan for a single system. Otherwise Leasing is a good way to go. If you are a business adding new equipment it is quite easy. If you are a start-up you will need strong credit collateral and a job helps.

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03-29-2004, 01:14 PM	#1 (permalink)
susanlatte Waiting Confirmation Join Date: Sep 1 2003 Posts: 137 Rep Power: 0	Has anyone gone thru their bank for leasing equipment??? What are the differences bank vs. private leasing company??

03-29-2004, 11:05 PM	#2 (permalink)
wyldekat1 Join Date: Nov 3 2003 Posts: 81 Rep Power: 0	The best advice I can give you is to Research, research and research some more! I manage a fitness center and we are in the process of leasing a tanning bed now. Con - you pay more than outright purchase, Pro - little out of pocket immediate expense. OUr current budget did not allow for an outright purchase, so we (me and the powers that be) decided to lease on a 3 year term. Personally, I would rather purchase, but that's not always possible.

03-30-2004, 02:34 PM	#3 (permalink)
susanlatte Waiting Confirmation Join Date: Sep 1 2003 Posts: 137 Rep Power: 0	Thanks for the advice. I still haven't made up my mind about this.

04-18-2004, 11:50 AM	#4 (permalink)
river_brat I love Derf!! Join Date: Apr 1 2004 Location: WEST COAST Age: 44 Posts: 906 Rep Power: 21	check fully with the bank about leasing. I was looking into adding another unit to my bed and went through my bank and they told me they do not lease tanning or fitness equipment, and ATM machines because of the liability. Also look into the aspect of how much you would end up paying at the end of the lease. Is it worth it? If I were you I would speak to a financial advisor and see what your options are for the best programs that would fit your needs. We have no idea of your money situation to tell you what would be best for you. Research, and once you think you understand, research it again!!!

04-21-2004, 06:09 PM	#5 (permalink)
Steve Underhill Join Date: Apr 21 2004 Location: Frisco, TX Posts: 1,502 Rep Power: 21	You probably can not get a lease through your bank. If you have a relationship with your bank you can probably get a signature loan for a single system. Otherwise Leasing is a good way to go. If you are a business adding new equipment it is quite easy. If you are a start-up you will need strong credit collateral and a job helps.

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