I am looking at the "No Worry Lease" deal offered by Hayes Instrument. Anybody have experience with this program?
That's how I got my equipment when I started my business, and I was very happy with it. You just make the payments, but in the event you can't pay, you can give the equipment back and the deal is done. I paid mine off early and I own it now.
Yes, I have bought 4 pieces of equipment from them using this lease. It is pretty straightforward. It is like 10% down, so much a month, and a 10% or so buyout at the end, if I remember correctly.
If business slows down, or something happens, you can turn the equipment back in at no penalty.
I bought a data collector, a total station, and two Promark 3 units using the lease method. I had 4 separate leases at different times as my business grew and needs changed.
I would highly suggest it.
Hayes is the only ones I will deal with . I don't have the lease but I buy all my equipment with them . Talked to jerry he's a trip and very knowledgeable .
I got started with Hayes as well. Remember to check with your tax pro to see if the lease qualifies as a "capital lease". If so, at least last time I leased, you can write off the total cost of the equipment first year. Makes for a nice tax season.
Thank you for the replies. My primary investor, SWMBO, will find these recommendations reassuring.
I spoke with Jerry yesterday about the lease program. He was very informative, and quickly emailed a detailed quote and specifications on the equipment I am interested in.
I was able to write off all of my lease payments for tax purposes. Very helpful.