Equipment Leasing

it If the equipment leasing company that your firm uses could make money for you or save you a bundle, wouldnt that company be worth its weight in gold? Sure it would. That firm would probably earn the loyalty of your firm.

Some leasing companies go the extra mile, delivering exceptional value to their customers. Here are a few ways stand-out lessors deliver great value:

Cost-effective Leases

Certainly, providing a competitive lease transaction that helps your firm to stay within budget and spread the leasing cost over the equipments useful life is a winning combination. The lease should also be flexible and user friendly. It should allow your firm to upgrade equipment easily and to terminate the lease in a cost-effective manner, should the need arise.

Convert Existing Equipment To Cash

If your firm has recent-model equipment that was not financed, why not convert the equipment into cash that can be used in your business? A skilled lessor can help your firm achieve that goal by structuring a sale-leaseback transaction. Under an equipment sale-leaseback, your firm sells equipment to the leasing company at the equipments fair market value. The leasing company then leases the equipment back to your firm under competitive terms. This type of transaction can be a win-win for both parties.

Achieve Higher Values On Unneeded Equipment

Your firm may have equipment that still has value, yet that equipment no longer meets your companys needs. Certainly, you can place ads in industry publications or otherwise attempt to re-market the equipment. Lessors that stand out can often help you re-market used equipment while achieving higher equipment values. Some lessors are active in the after-market of many types of equipment. They are often able to orchestrate the removal, refurbishment and sale of used equipment, while maximizing the re-market value.

Promote Your Business

A stand-out leasing company can help your firm excel by promoting your business. Some promotional activities offered by savvy lessors include: issuing joint press releases about the lease transaction, highlighting your firms offerings; including a testimonial from your firm on their website with a description of your companys activities; highlighting your business in their company newsletter sent to customers; introducing your firm to other leasing customers who might need your products or services; and hosting customer mixers to allow you to network with other customers.

Introductions To Key Financing Sources And Financial Service Providers

Leasing companies typically interface with many financing sources and financial service providers. They sometime call on other financing sources to check prospect credit references or to discuss collateral positions or lien releases. They also call on funding sources to originate new business, especially from sources that specialize in complementary financial services. Stand-out lessors stay on the lookout for high-quality lenders, private equity sources, CPA firms, attorneys, mortgage providers, insurers and others capable of providing excellent services to their customers. In many cases, like birds of a feather, high-quality financial service providers find one another and exchange business referrals.

How do you find a stand-out lessor? Make sure you ask the right questions when you meet lessors and when you check their references. Ask about the other ways they serve their customers. Also, when you make reference calls to check out new lessors, ask their references whether the lessors have offered any other helpful services that make them stand-out. While most lessors are skilled at selling their services, you will recognize the stand-outs by hearing from their customers.

George Parker is a co-founder, Director and Executive Vice President of Leasing Technologies International, Inc. (LTI). A twenty-five year industry leader, George is a frequent panelist and author of several articles and e-books, including "Using Venture Leasing As A Competitive Weapon" and "101 Equipment Leasing Tips".