There are many misconceptions about leasing equipment (scientific lab equipment included) that have been going around for so many years. Leasing is a cheaper option as opposed to making cash purchases especially if your equipment has to be changed on a regular basis to keep up with technology. Below is a discussion of some of the myths about leasing.
One of the myths that go around is that leasing is only for new medical facilities which do not have enough money to spare. This is not true because established facilities opt to lease some of their scientific medical equipment as opposed to making cash purchases. A medical facility will analyze the costs that they will incur if they purchase the equipment as opposed to leasing it. For instance, if they make an analysis and find that it would cost thousands of dollars just to purchase equipment that they would probably use just for two months, then it would make sense to instead lease it at a fraction of the price.
Secondly, most people believe that leasing is a long term contract and you cannot get out of it. This again is not true because most leases have "out" clauses that allow you to terminate your lease at any time. Early termination of a lease may incur you extra costs but at the end of the day, you will not be bound by it.
If you have been unfortunate enough to have your credit score tainted, this can make it very difficult for you to find a trust worthy company that is willing to help you with your damaged credit issues. Many companies out there are willing to make your equipment leasing experience cost effective, efficient and easy. Believe it or not, they are willing to lease to you even if you have ever filed for bankruptcy.
Why would these companies approve your lease if you have such a terrible credit score? The answer to this question is very simple. Leasing companies know that their clients have financial difficulties and therefore the terms and conditions on their contracts are not financially demanding. They make the application process less stressful as compared to when you go to a bank to request for a loan.
Having outlined that you can get approved for a lease even with damaged credit, you need to make the process of finding a trustworthy financing company much easier. This is why LeaseQ has an online platform, where only soft credit inquiries are made and this will have no impact on your credit score.
LeaseQ is the leading source of equipment leasing and financing companies. They lessen the stress of having to spend hours on the internet looking for leading finance companies. They will link you to real lenders who are willing to give you a free and instant quote.
To see if you qualify for scientific lab equipment leasing, click here for a free quote.