By Dan Tomlinson, Commercial Account Manager
Leasing cars has become increasingly popular – why not lease your HVAC equipment as well?
More and more people and businesses are realizing that leasing vehicles, whether it be trucks or cars, is an attractive option. In 2009 seven percent of Canadians leased their new cars versus purchasing. Last year that number rose to twenty percent. If leasing cars is such a good idea then why shouldn’t more companies lease their HVAC equipment?
People lease their cars for many reasons which include:
- Lower monthly payments versus getting a loan
- Having more capital to spend on other things
- Getting new upgraded cars every few years
- Fixed predictable payments for the duration of the term
Along with the previous points, companies may prefer to lease their cars because the operational lease stays off their balance sheets and therefore the liability of the finance is not shown on company accounts. If a company uses a capital lease (finance) the vehicle is considered an asset and the depreciation is charged.
Why Not Lease HVAC Equipment?
Just like leasing a car, leasing your HVAC equipment has many of the same benefits and more! Below are some benefits of leasing HVAC equipment:
- More capital to spend on other projects
- Fixed predictable payments
- An average of 27% tax write off*
- Flexible end-of-term options (purchase or month-to-month lease)
- Peace of mind knowing you won’t spend any money on parts or labour
Our full maintenance lease also has extra benefits that leasing a car does not:
Flexible end-of-term options. At the end of the term, you can either purchase any piece of equipment for a small transfer fee, continue on a monthly service contract or you can completely upgrade your equipment.
Full maintenance and service included. During the length of the term, all annual service is included as well as any emergency maintenance or parts. If anything catastrophic happens to your equipment we will fix it without any additional costs.
Now at a time where companies have less and less capital due to the lockdowns and restrictions, leasing HVAC equipment makes more sense than ever.
So, to answer the question “why not lease HVAC equipment?”, there is no reason!
If you have any questions about leasing HVAC equipment, contact Grand HVAC Leasing at:
1-855-754-0530 or info@grandhvacleasing.com to learn more today.
*tax implications may depend on your area.