Have you ever acquired a vehicle or other equipment by finance or leasing before? Are you interested in acquiring vehicle asset now or nearest future? If you are gainfully employed, let us take you through the differences between the two methods of asset acquisition.
When you obtain finance to purchase vehicle or equipment, the financial loan is provided as the full amount to buy the equipment/vehicle. Typically, the bank does this through a loan facility that is collateralized. Also many equipment manufacturer/major distributors partner with the bank to avail this financing service.
On the other hand, when leasing the asset, it is key to note the following differences:
- You do not need to save to acquire the asset.
- The asset is made available for usage immediately with future repayment.
- The repayment is structured to your cash flow pattern of installmental repayment.
- The option of ownership of the asset upon repayment completion is available.
- There is an advantage of obtaining another asset of higher grade.
- Easy documentation and non collateralized facility. The vehicle itself is the security for the facility.
- Easy method of replacement of obsolete asset.
At M.I.S.S, we provide uniquely tailored services to different categories of clients (Individuals, SME and corporates). We can work with you to find a plan that suits your needs and facilitate an equipment acquisition from the vendor of your choice. We have an experienced team that are experts in building lasting business relationships and they are vested in understanding your business needs. We know you would require simple and efficient funding via leasing which is why we strive to approve client requests with unparalleled speed.
So if you can use that asset, we can lease it.
Give us a call today or let us chat online for more on how we can help you structure that lease.
Many thanks from the M.I.S.S Leasing Team.