You can’t have a laundromat without washing machines and dryers. In the past, your only option would be to purchase this laundry equipment outright or through a loan, but these days, you can also lease commercial laundry equipment. Leasing could be an ideal solution for your vacant laundromat, but is it preferable to buying? To help you decide, today we’re discussing the benefits of leasing laundry equipment.
Benefits of Leasing Laundry Equipment
When you lease laundry equipment, you will have a fixed monthly expense, which might also include maintenance, repairs, and service calls. This expense is easy to predict, making budgeting a breeze. When you purchase washers and dryers, on the other hand, a breakdown could occur at any time, and the repairs could make a huge dent in your budget.
If your lease doesn’t require a down payment, you can conserve capital. Unlike a loan or an out-of-pocket purchase, you won’t need to provide a lot of cash upfront. For those businesses on a very tight budget, the money you save could be crucial. In fact, it might even allow you to invest in your business in other ways.
You will not have to lower your standards simply because you’re choosing to lease rather than buy. You can lease high-quality washers and dryers from reputable companies like Speed Queen, ensuring that your equipment is durable and efficient.
Leases are typically not set in stone, so you may be able to negotiate the terms. Take advantage of this flexibility to ensure that you receive the best deal possible. In addition, be sure that your lease doesn’t allow the lessor to substantially increase your rate in the future, as this could mean that your initial rate is unrealistic and purely an allurement.
A lease will require less paperwork than a loan, making the application process simpler and faster. Plus, it is easier to qualify for a lease than a loan. If you’re on a tight deadline or simply want to avoid the frustration of paperwork, leasing is the obvious course of action.
At the end of your lease term, you will have the option to purchase the equipment. So in a way, you’ll get the best of both worlds! After enjoying all the benefits listed above, you’ll be able to buy the equipment you’ve relied on for the length of your leasing term. Or, you could enter a new lease.
Buying and leasing both have their pros and cons. As you consider your options, you will need to factor in your available capital, your monthly budget, your time limit, and more.
In the end, whether you would prefer to lease or buy, if you’re on the hunt for a reliable distributor, be sure to check out Laundry Solutions Company, a full-service provider of premium vended, on-premises, and multi-housing commercial laundry equipment. Our leasing program provides no mileage fees, no service fees, and no parts fees. You will be able to use high-quality Speed Queen equipment while enjoying a flexible lease and predictable payments. To learn more about our products and services, please give us a call at 800-383-9274 or contact us online. We look forward to hearing from you!