According to the experience pros at Equipment Funding Resources, business owners often overpay for equipment leasing by 20 to 30% because they don't fully understand all of the clauses in an lease agreement. Some tips for avoiding such problems can be found on a new website: www.leasingsecrets.com
The website launch coincides with the release of a number of publications written for leasing decision-markers by Tom Tolman, a 25-year veteran of the equipment leasing and financing industry. The publications include: “A Technology Lease in Layman's Terms,” “Insider's Checklist when Leasing or Financing Equipment,” and “The Secrets of Equipment Leasing and Financing.”
Tolman acknowledges that leasing equipment can be an exasperating experience because of the maze of paperwork involved. Often, it's hard for business owners to really know if they've obtained the best possible terms and conditions.
“Many variables can influence the real rate to a commercial customer,” says Tolman. He says an “automatic renewal clause” in a lease agreement can effectively add 20 to 30% of the overall cost of the lease: “It can turn a perceived great deal going in, into a very bad one coming out.”
During his career, Tolman has been personally involved in the leasing and financing of more than $100 million worth of equipment. (Equipment Funding Resources: www.leasingsecrets.com)