Q. Isn't it better to own an equipment?
A. Use of equipment, not ownership, that provides profit. It is more economical to lease equipment and use your cash for other needs. Depending on the type lease, you can either purchase the equipment, or return it at the end of the lease term.
Q. Isn't it cheaper to pay cash for an equipment?
A. There is a loss of earning power of that cash payment when you purchase an equipment. For example, if the net profit on working capital is 20%, then you lose 20% a year. Leasing gives you the use of the equipment you need so you can pay for the equipment out of income over time rather than put up the entire cash upfront.
Q. Is the lease cancellable?
A. No, a lease is a non-cancellable contract.
Q. Do I need insurance?
A. Yes, you are required to pay premium for insurance cover for fire, theft, loss and general liability. Opticom will arrange for appropriate insurance coverage.
Q. Are there other fees associated with my lease?
A. Yes, you will be charged processing and legal fees