A friend suggested that I look into leasing but that seems like a waste of money to me. No matter how much you pay into the lease, you will never own the equipment. Yet when you are starting or growing a business, money is often in short supply and one way to save is to lease your computers, fax machines, office furniture or heavy equipment. Leasing allows you to spend less than if you bought the same equipment. As such, despite the no-equity drawback, leasing offers a number of distinct business advantages.
Leases are easier to finance than purchases.
However, leasing companies usually require only six months to one year of credit history before approving a furniture or office equipment lease. Leasing improves your cash flow. It frees up cash. Conversely, equipment purchase loans usually require down payments of up to 25 percent. Leasing allows you to get more.