Now entrepreneurs can not only take loans in order to purchase goods necessary for organizing a business, but also take advantage of the possibility of concluding a leasing agreement. How is leasing different from a loan? What are the features of each of these contracts?
A loan is money received by a borrower from a credit institution, usually a bank. Speaking specifically about business loans, they are usually issued to solve a specific problem, for example, to purchase production equipment. You can repay the loan, depending on the characteristics of the loan agreement, in equal amounts of money monthly or unequal. Often, businessmen have to pledge property in order to be able to get the loan they need.
Leasing is a kind of lease with the right of the lessee to subsequently repurchase the subject of the lease agreement. As a rule, a leasing agreement is concluded on a long-term basis. The lessee independently chooses the subject of leasing, getting the opportunity to start using it without large financial investments. Also, leasing agreements may contain the need for maintenance of the leased asset by the lessee or the lessor. The leasing object can be transferred to the lessor upon expiration of the contract.
As you can see, there are significant differences between a leasing contract and a loan agreement. At the same time, it is impossible to say that it is better to take a lease or a loan, since a large number of factors must be taken into account here: the economic situation, the size of the business, the intensity of exploitation of the leased asset, and much more.
It should be noted that at present it is easier for entrepreneurs to conclude leasing agreements than credit agreements due to more stringent conditions of credit organizations. So, for example, you can purchase the necessary equipment to start production in leasing without providing a pledge.
Another feature of leasing is that the contract is concluded for a long period, which reduces the financial burden for the lessee. At the same time, the lessor also bears additional costs, for example, for insurance or customs. duration of the contract. If you buy something on credit, it will instantly become yours, you won’t have to return everything purchased if you fulfill the terms of the loan agreement.
In the end
In general leasing or credit is up to you, both leasing and credit have their advantages and some disadvantages. The choice must be made based on your needs and capabilities.
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