August 6, 2010, Newsletter Issue #230: Leasing a Trailer Pressure Washer

Tip of the Week

If you want to lease a pressure washer there are a few things to consider.   First of all do you have an existing business that has been active for at least 2 years.  The reason why you would need an existing business of 2 years or more is to qualify for the lease.   Most leasing companies have a team of underwriters that look for certain things when qualifying you for there lease program.  Time in business and your credit score are the two biggest things that they will look at.   Understand that when you lease equipment there generally is no early buy out.  So if you want to pay it off you will need to come up with the funds of the whole lease.  Thats right no break for paying it off.   On the other hand there are some great tax benefits to having a lease.  Often times you can write off the whole lease on your taxes.  One thing I tell people is that generally you can make your lease payment in a day.  This gives you the freedom to make money for yourself the rest of the month. 

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