Every business requires equipment at some point.

Your business may of course need computers, vehicles, manufacturing machines, factory equipment and more on some or the other point of time, which is entirely dependent on the type of business you are running.

Imagine the business equipment needs of a simple business like a Juice shop, for example. You'll need to acquire, in addition to business premises, one or more good quality juice makers, tables and chairs for your customers, refrigeration units, storage units, a dishwasher and mugs and serving ware. That's quite a list and an outlay for a new business - all before you open your doors. There are, however, a number of different ways that you can acquire equipment and other assets for your business without having to part with your liquid assets by making payments up front.

In this case you can follow some of the following options for the Business equipments Finance.

Operating Lease

An operating lease allows you to acquire the equipment you need for your business without a large initial outlay. In addition, you get up to 90% of the resale value.

The advantages of an operating lease include, lower rental fees, the ability to use the equipment without owning it, there is no need to dig into other lines of credit to finance a purchase, your rental fees may be deductible from taxes as operating expenses and there are other tax advantages, including avoidance of depreciation.

You can also go in for Asset Finance Lease: -

A finance lease allows you to use the equipment you need without owning it. When the lease ends, you may get a percentage of the resale profit in the form of a rental rebate.

The advantages of a business asset finance lease for your equipment include: Low initial expenses, easily arranged through many vendors, Monthly fees are a fixed expense, Leased equipment is a balance sheet asset, Maintenance contract is often included as part of the monthly rental fee, Use of equipment without ownership, Rental fees may be deducted from taxes as operating expense, Frees up or preserves other lines of credit for other uses, A percentage of resale price may be available as a rental rebate

Hire Purchase

Hire purchase represents an excellent way to acquire equipment without paying the entire cost up front. The advantages of hire purchase include, immediate use of the equipment that you need, fixed or variable rates of interest available on loans, the interest on your commercial loans may be tax allowable and consistent monthly payments make bookkeeping easier

. Once you know the type of equipment you need, shop around to find out what finance and purchase arrangements are available to you. A trained business consultant may be of use in helping you decide between asset finance and hire options.

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Avail better chances of getting a car loan at a better rate.

If you just started a job then wait 6 months to apply for your car loan. If you have currently had bad credit then repairs it before applying for an auto loan. If you've recently moved then wait until you have lived at your new address for 6 months before applying for a loan. If you have had a previous auto loan or home mortgage on your credit report then your chances for a new loan improve greatly.

Try and pay off all of your credit card balances or at least lower them. You may want to consider finding the best debt consolidation loans to erase all of your credit card bills. The bottom line is doing keep a high debt load or credit card balances. You must have a stable job or occupation.

Other examples of credit extended to you should appear on your credit report. Verify this with a quick and easy online credit report. Also avoid charge off's on your credit report. If you've filed bankruptcy before then you should wait 3-4 years before trying to get an auto loan.

You can Make Bi-Monthly Payments: Instead of paying your mortgage with one monthly payment switch to paying half of your loan payment every 2 weeks. The savings comes from the 26 half payments you make which add up to 13 monthly payments versus the regular 12 payments you would normally make in a year. The end result is you save a large sum of money on the interest owed and you'll own your home a lot sooner!

If you are interested in Mortgage Refinancing: Currently this is the most popular trend. You refinance your mortgage if you can get a rate that is at least one percentage point lower than your existing mortgage rate and plan to keep the new mortgage for several years or more. Buy down the rate: The seller or builder, or through innovative pricing, can help you buy down your mortgage rate for one, two, or three years.

Consider an adjustable-rate mortgage (ARM): If you think you will be in your house for less than 5 years then perhaps you should consider an ARM. An adjustable-rate mortgage (ARM) starts with a considerably lower interest rate, but then adjusts every year. This type of loan moves a little bit of the risk away from the lender, and the lender rewards you with a lower rate. Usually these mortgages are capped to rise not more than two percent in any year, and not more than five or six percent for the life of the loan for your protection.

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