The Balloon Payment (or Residual) is the final payment needed to finalise an equipment or…
With the new financial year fast approaching, many businesses are turning their mind to their plans for next year and recovery from COVID-19.
If this involves acquiring equipment, then it is important to understand the Asset Finance options available and avoid expensive mistakes.
Why use Asset Finance?
The major benefit of Asset Finance is that it allows businesses to access equipment they need, without having to pay for it upfront.
This preserves cashflow and allows the equipment to be paid for over an agreed period of time.
Properly structured, Asset Finance provides many benefits of ownership, prior to actually owning the equipment.
Other Key Benefits of Asset Finance
Deciding if Asset Finance is Right Your Business
Like all business decisions it is important to understand both the advantages and disadvantages of Asset Finance before committing yourself one way or another.
The Advantages of Asset Finance
Key Considerations of Asset Finance
Asset Finance Options
The Federal Governments Instant Asset Write Off Scheme has made it more attractive for businesses to invest in the equipment they need to transition through the recovery phase of COVID-19.
However, as I have outlined, if the equipment needs to be financed, then it is important to understand all the options available, to ensure the right product is chosen to maximise the return on your investment.
If you would like to learn more give me a call!