By The Leasing Group

5 ways bundling equipment into one lease will make your life easier

You own a company that’s been up and running for a few years, and business is humming along. You take a look around the office and notice you need to replace some, but not nearly all, of your basic office equipment. You have 10 copiers, but only two are on their last legs. Your conference room table is getting shabby, but the chairs are still in great shape. Your shared color printers are in good condition, but a few of your executives have burned up their black-and-white desktop HPs.

You already know you’d prefer to lease all of these items rather than purchase them outright, but on their own, each piece is valued at much less than $20,000.

Did you know that, with the help of The Leasing Group, you can package all of this financing under one equipment lease? Here’s why bundling can be a great solution for your equipment leasing needs.

1. One lease means one negotiation. You likely can’t get your conference room table from the same vendor who sells copiers, so you’d have to negotiate terms with each vendor, and/or the independent financial institutions that provide their lease financing. That can be a time-consuming hassle. A better solution would be to let The Leasing Group coordinate all of this for you. We can manage all leasing details with multiple vendors, negotiate with our partner banks to get you a competitive, single rate, and bundle all of the equipment you need under one leasing contract with a one set of terms. We’ll juggle purchase orders, invoicing and deliveries so you don’t have to.

2. A single payment. If you were to lease the four items you need individually, you would have four monthly payments to keep up with. Your financial statements are complicated enough. It’s a no brainer that if you bundle the four items under one equipment lease, you (or your bookkeeper) will need to worry about making only one additional payment per month.

3. Cost effectiveness. Another obvious benefit of a single, bundled lease is that you’ll save money in the long run. Basic math dictates that a single lease, with a single interest rate and a single payment, makes more sense than four leases, with four rates and four payments. One lease is a much more economical option.

4. One credit approval. If you are applying for lease financing for four separate equipment leases, you have to get four credit approvals. That’s a lot of time and paperwork. Wouldn’t you rather been spending that time cultivating your business? We thought so. If you work with The Leasing Group to bundle your small equipment leases into one contract, you’ll only have to go through the laborious credit approval process once. Less time wasted and fewer headaches means you can get back down to business faster.

5. Your credit stays intact. Every time a credit bureau is contacted by a vendor or financial institution to check up on your credit, your credit rating takes a ding. If you need credit approval for four leases, that’s four dings. Under a bundled lease, you only need one credit approval, which translates to only one credit check. One ding instead of four means your credit rating will be minimally affected.

If you think your equipment lease bundling might be a good solution for your business, contact The Leasing Group at (502) 547-2773 for more information about how we can help.