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Michigan Industrial Equipment for Businesses

Industrial Equipment Financing - Loan vs. Lease

Equipment leases usually entail no down payment and they finance the depreciation of the equipment over the term of the lease. The borrower sometimes has the option to buy the equipment at fair market value when the lease term is up. A loan to purchase the equipment usually requires some form of down payment and finances the remaining amount. With a lease, the equipment itself is used as collateral to secure the transaction. A loan requires a separate asset to be pledged as collateral. 

Some issues with leasing industrial equipment

  • Provides less control over the equipment since you are not the owner 
  • Involves a partnering relationship with normal partnering related risks 
  • May be more complicated than an outright purchase 

Some of the benefits to a loan 

  • You enjoy the benefits of ownership and the flexibility to utilize accrued equity to leverage working capital when needed 
  • Industrial equipment is usually not threatened by obsolescence compared to equipment in industries such as technology or medical 
  • Purchasing may allow you to deduct up to $24,000 worth of equipment
    in the year it is purchased as part of "first-year expensing"
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