Buy Smarter by Calculating Equipment Operating Costs

We all like a good deal and, as business owners, we all need to watch the bottom line. It’s tempting to look at the equipment’s price first and its specs/maintenance records/user rating second – if at all. But this can be a costly mistake.

The real cost of a piece of equipment can only be calculated once you include the actual operating costs. The dent in your cashflow when you purchase is only the first of many costs associated with owning heavy equipment. Labour, maintenance, efficiency and downtime are all business costs too. If you get a “deal” on a cheap machine, but it is less efficient to run, breaks down more often and requires more expensive parts, is it really saving your business money?

Low prices do not always mean a better deal.

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Two Leasing-specific Deductions That Deliver Valuable Tax Savings for Your Business

Leasing your business equipment in Canada safeguards your capital, cuts red tape, allows for quick and easy upgrades — and offers significant savings at tax time.

Leases and loans are treated very differently by the CRA (Canada Revenue Agency). Two of the most significant differences are found in monthly payment deductions and how you claim Input Tax Credits. Some businesses will benefit from larger, short term tax rebates and some will benefit more from smaller rebates over a longer period of time. Either way, leasing can help bring down your tax bill.

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Compare the Two Most Popular Equipment Financing Options

Equipment leases and loans are a great way for businesses to grow strategically without tying up their cash flow or limiting their future flexibility. It’s rare that a business can drop the cash necessary for a large equipment purchase. Cash flow runs business, and it’s all about leveraging it to your profit.

That’s where financing comes in. Leases and loans allow you to break up that lump sum into manageable pieces – and let you to earn money with the equipment while paying it off.

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Use these insider tips to bid smart, avoid costly mistakes and seal the deal

Everybody is looking for a good deal on a great piece of equipment. Online auctions can be a smart way to find what you need for the price you want, but they come with their own unique challenges. You are bidding against other potential buyers who may push the price higher than you want to go.

Unlike buying from a store, or even the classifieds, auctions are dynamic sales where prices are flexible and changing constantly. This can be intimidating, yet with a strategic approach you can use this fluidity to your advantage. It takes a disciplined, well-thought-out bidding strategy to win. How can you maximize your buying potential and minimize risk? Read on…

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Leasing Your Next Trailer Purchase Makes Dollars and Sense

What does your business need to move forward? A flatbed trailer for daily hauling or a refrigerated trailer once a month? A single step deck or a whole fleet of dry vans? Though trailers are one of the most common pieces of equipment, some aren’t cheap.

Before you wade through miles of red tape or clean out your working capital to make that purchase, you owe it to your business to look into leasing. This financing method offers many benefits:

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What you need (and don’t need) to get the equipment lease of your dreams

Your business is ready to grow, but you require new equipment assets to get there. You may have even found the exact equipment needed. Financing is the next step, but not the one you’re looking forward to.

We’ve all been there.

The good news? Financing doesn’t have to be a huge headache. Yes, bank loans take time, paperwork and hassle, but equipment leasing is almost unbelievably straight forward. In this article we go over what you will need, and what you can forget about, when securing a good rate on an equipment lease.

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