A laser engraving machine is quite costly and as such every company cannot afford it. But the good thing is that there are a lot of companies which will finance you to purchase a laser engraving machine. In most cases it is observed that the small scale companies find it tough to purchase a laser engraving machine due to its cost and so they cannot avail the advantages of laser engraving machines. This is where laser engraver financing becomes very essential.
Advantage of taking Laser Engraving Machine on finance
You still may have a question in your mind whether financing or paying cash will be the best option to purchase laser engraving equipment. Financing a laser engraving machine comes up with a lot of benefits such as:
- Financing the laser engraving machine conserves your cash and permits you to preserve the cash that you can spend in growing your business. Instead of buying a laser engraving machine by cash it is always better to save it so that you can use the money during the crunch time.
- When you will avail the financing you will be able to deduct the complete cost of the laser in the first year of your purchase and also the interest cost for the purpose of tax with Section 179. Thus combining Section 179 along with equipment loans is always a very profitable decision. The amount that you will be able to deduct will almost exceed the cash outlay for the year at the time when you will avail the equipment loan. Hence because of the cash flow tax-saving leveraging a section 179 deduction will certainly help you to maximize the cash flow.
- Financing the laser engraving machine comes up with a lot of options such as deferring payments, slow season payment, $0 down payment, etc. Apart from that, you will also be able to avail of the laser engraving machine for 3 months or 6 months or 12 months. In addition, you will also be able to control your monthly financing payments. You also sometimes get the flexibility to choose the tenure of repayment of the loan between 12 to 60 months tenure.
- While taking a laser engraving machine on finance you can avail term loan and it is mostly seen that the financer or financing company always keeps up with the technology. That is the reason why it is always easier for you to upgrade the equipment. The best thing about financing is that the time when financing the laser engraving machine you will be able to own the equipment from the outright. Another great advantage of financing the laser engraving machine is that you will also be able to pay off the loan early. Moreover, the financer or the financing company will also allow you to upgrade to a newer or larger machine whenever you require.
Steps for financing a laser engraving machine
Most of the company wants to take a laser engraving machine on finance but afraid to avail as they think that it is very complex or will require a long process. In fact, it is not so complex and only requires a few steps. The following are some steps that will help you to avail the laser engraving machine on finance:
- The first thing that you need to do is to find out the best financiers in the market which will finance you the required money at a lower rate of interest.
- Enquire about every detail of the financer and go through all its terms and condition.
- After that, you need to submit a vendor profile to the financer or financing company.
- Then the financer or the financing company will prepare all the lease documents and also eSignature lease documents.
- Once the vendor profile is processed and approved you will get the money in your account or to the company from where you will purchase the laser engraving machine.
The decision of purchasing the laser engraving machine on finance is entirely your personal choice. But before you purchase a laser engraving machine on finance it is advisable to take the base rate of financing, business credit and age of business into consideration. But financing a laser engraving machine is certainly not a hard option.