1. Make sure that the person responsible for maintenance is written in the business equipment lease.
2. Know what happens if you want to return an item before the end of the lease.
3. Ask what the purchase price of the equipment is if you choose to purchase it at the end of the lease contract.
   

Action Steps
The best contacts and resources to help you get it done

Use an online lease broker to find the best rates on specialized leasing

Business equipment financing is a complicated financial matter, and can become one of your company's greatest expenses. A little legwork upfront can save a great deal of money over the life of equipment lease.

I recommend: All Options and Ervin Leasing provide a variety of leasing options for the small business.

Read and understand the small business equipment financing or leasing contract before signing

Specialized leasing has its own language. Before committing to a multiple year contract, read the fine print carefully. Do not feel pressured to sign on the spot.

I recommend: Mr. Lease provides a dictionary of common lease terms to help you interpret the lease contract. If you still have questions, FreeAdvice has an active legal forum that allows you to post questions.

Determine if commercial equipment financing makes sense with a lease vs purchase calculator

Industrial equipment leasing is not an all or nothing proposition. Some equipment may be more economical to lease, while other equipment it makes more sense to purchase.

I recommend: A simple lease versus purchase calculator such as the one available at Lease-vs-Buy.com is an excellent starting point. For a more detailed analysis, visit the Business Owner's Toolkit.

Helpful advice for making the most of this Guide

• •  Ask if interim rent is charged on industrial equipment leasing. Interim rent is a fee paid for the period of time between the start of the lease and the day you take delivery of the equipment.
• •  There are a variety of ways to save money on commercial equipment. Leasing is one method, but purchasing equipment that had previously been leased is another. Purchasing pre-leased equipment is a good choice for shelving and other equipment that is not likely to become rapidly outdated.
• •  Contracts for business equipment financing are not set in stone. Consider the contract as a starting point in your negotiations. Negotiate monthly payment, length of the lease, maintenance responsibilities and end-of-contract payments.