Tuesday , May 18 2021

What to consider when choosing a leasing company



More and more small and medium businesses use traditional leasing and long-term leasing since they are often cheaper, simpler and more effective than investment. Of course, many people stop at a seemingly favorable price although there are still a few very important components to consider.

Leasing market growth in recent years in Europe and Hungary is significant. Experts say this trend will continue in the coming years. Therefore, it is worth considering how much the leasing and leasing companies are choosing to avoid the first bids and the failure of the design.

An inexplicable option may result in slow approvals, inability of the lender to perform, hidden fees or worse rental conditions. In order to secure the best lease agreement, it is worth pre-qualification of leasing companies for bidding. When we talk about leasing, we primarily mean operating leases (long-term leases) but comparatively show the role of other constructions as the first step in deciding whether conventional or operating lease is our preferred job.

Principles to consider

The first aspect is certainly flexibility. Although large, usually leasing companies in the hands of banks or financial and industrial companies are undoubtedly highly qualified and cheaper than companies specializing in providing small and medium-sized businesses, but at the same time dislike too specific ideas and requirements. This also applies to a larger car with a custom configuration, but also for producing a lower value or an IT tool that represents only the value of a particular user, and will later be easier to sell to a leasing company. It is therefore important to find special leasing companies that deal with an individual asset, a certain size of investment, a certain type of customer or segment.

According to Balázs Székely, executive director of Rentasystem, the client has to understand that although refinancing allows a larger lease company to make one or two percent lower interest rates, but the whole process of a specialized MSP company can be much faster than judgment until the transaction is executed . These companies can deal with buying a completely unique car or machine, and the price difference will be only a few tens of thousands of bucks – professional marketers will brush.

For financial leasing, rental is included in the balance sheet, operating lease (long-term lease) allows off-balance financing. At present, assets are not long-term liabilities and this improves the debt indicator. In addition, credit capability is not charged and VAT refund is also possible. That is why long-term lease is a fast advance.

This is a question of what a buyer wants: it is a vehicle that is not available at home and requires a single purchase, or a choice of mass demand and vehicle discount. In the first case, a flexible SME for small and medium-sized businesses is a good choice, the company has a broader range than the latter, but you also need to look at what the company's service palette offers and what additional add-ons you may need later.

In future plans to buy a company can only include some types of equipment (such as a car) or even more complex needs (automobile, IT, machinery). If only one line of products is interesting, it simplifies search, as many companies offer, for example, operational car leasing services. Most companies usually fund one or two product lines. Therefore, if IT equipment, machines, equipment and cars are expected to be purchased in the future or even energetically improved, it will close enough leasing companies that can provide them in long-term leases because they can have a long-term partnership and better prices.

Your reputation, ratings, customer ratings, and image quality are also important aspects, so you should look at what other customers are receiving.

An important measure of the method of contact, the speed of the phone, the leasing rate of the company that corresponds to the letter or callback request, the speed of the offer, the look, the comprehensiveness and the aesthetics. It is clear whether the organization is profitable and that many transactions have taken place.

And last but not least, the price and value ratio is important. Is it worth the money for a professional and flexible service provider or worth several thousand forints per month? Who and who should be in contact with the lease during the next 3-4-5 years? Can there be a rental offer in another range? Will the company be there for 3 years? Is there a specific need (for example, getting a completely unique car), which could be worth adding to.

You can read more articles about the subject with subscriber content.

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