The Advantages of Medical Equipment Leasing Over Loans

The Advantages of Medical Equipment Leasing Over Loans

Are you starting up a medical practice and need to outfit your office with furniture and medical equipment?  Do you currently own or run a medical practice and are interested in updating or expanding your equipment?

Many physicians and office managers consider medical equipment leasing because it allows the practice to become, or be maintained as, a state of the art facility.  If you choose medical equipment leasing, money is kept within the practice because you are able to offer the latest in lab equipment, x-rays, MRI and more.

Most medical equipment can be leased on both short and long-term leases.  Typically, they offer more flexibility than a loan, so that’s why so many medical practices choose this option. Here are just a few of the advantages of leasing your medical equipment:

  • Your bank will require a 20% down-payment on a loan, while a Lease can be done with only one monthly payment in advance.
  • Leasing allow you to upgrade your equipment giving your patients access to the latest in technology.
  • Leasing improves your asset management and frees up capital for other expenditures.
  • You can plan for the future because your lease payments are fixed and won’t fluctuate with rising interest rates.
  • With leasing equipment, you avoid obsolescence because you can simply upgrade to the next model at the end of your lease.
  • Leasing provides flexible payment options and oftentimes no down payment is required.
  • With leasing, you can secure one hundred percent financing, which means the hardware, software, training, maintenance, shipping and installation can all be included in your lease agreement. We’ll even finance 100% EMR and EHR software.
  • Leasing provides tax benefits as you may be able to write off 100% of your lease payments.

Leasing medical equipment instead of purchasing these vital tools for your practice makes good business sense. It allows you to stay on top of technology, gives you flexibility with your capital and gives you better asset management. It’s quite a different thing when for example, Personal Money Network offers payday loans online. Medical equipment loans, much like farm equipment loans fall in a much more trusted category.

When you are ready to consider your medical equipment leasing options, turn to the experienced professionals from Taycor Financial.  They have dedicated account managers that work solely on medical equipment leasing who offer a quick response pre-approval process, low rate lease agreements and superior customer service. Call Taycor today to speak with one of their medical equipment leasing professionals who will work with you to secure the best lease for your practice!