Department of Commerce A.S. Report 80% of all businesses that finance equipment choose leasing to finance new assets. Companies that choose to rent equipment usually follow one or two processes to choose a leasing company. One option is automatically using a leasing company introduced by equipment vendors. The second option is to choose a leasing company of many leasing companies that are telemarketing and email customers or those who participate in industrial trade exhibitions.
The best way to get a great equipment financing agreement is to use a process that is driven by the customer. The latest company that wants to reduce the total rental costs using formal rental requests for proposals (RFP) which are adjusted for their specific business needs. You may consider RFP strategic peer review before hiring RFP consultant services.
Important ingredients to be included in RFP rentals:
1. Company History: Background Like the number of employees, company structure, and where the equipment will be. Explain the company's main business function.
2. Equipment: list of important equipment specifications and options you might consider. Prioritize equipment features as mandatory or optional. If the company has chosen equipment manufacturers, including this information in RFP. Some leasing companies will provide more aggressive prices for high-quality advanced equipment.
3. Seasonal payment: If you have seasonal fluctuations in your cash flow, consider asking for a structured lease payment. Sometimes leasing companies can develop their proposals for higher payments when strong customer cash flows and lower payments when tight cash. Some traditional banks and uncomfortable financial institutions with flexible payment plans.