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Equipment leasing gives you access to much-needed equipment without the higher monthly cost associated with a loan. In many cases, your business can also avoid a down payment, saving you thousands
Offered by banks and online lenders, the best equipment financing can help business owners buy equipment to start or grow a business or repair or upgrade old equipment to remain competitive.
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
Equipment loans often have a higher payment than an equipment lease but allow you to own the asset outright at the end of the loan term. For many business owners, buying equipment is an important ...
At the same time, the asset is depreciated. If the lease has an ownership transfer or bargain purchase option, the depreciable life is the asset's economic life; otherwise, the depreciable life is the lease term. Over the life of the lease, the interest and depreciation combined will be equal to the rent payments.
Equipment Leasing Association Of Nigeria is an industry trade group that promotes the development and growth of the equipment leasing industry in Nigeria. Founded in June 1983 by six merchant banks in Nigeria to promote best practices in the industry and protect the interest of member firms.