While many contractors buy their equipment for spray foam insulation, this isn't the only way to get the tools you need to do the job. Leasing can save you money, and give you more flexibility with regards to your equipment.
Leasing equipment for spray foam insulation is technically more like renting it than owning it. When you lease equipment, you make a small initial payment to start the lease, then you make preset monthly payments for a period of time that you choose at the beginning of the lease. At the end of your lease, you could have the option to purchase the equipment for $1, pay the fair market value for it, renew the lease, or walk away from it and be free to re-lease new equipment.
NCFI's leasing programs through LRI typically require lower down payments than purchasing the equipment. They also offer the ability to include both the hard costs of purchasing the product as well as soft costs like shipping or training. Because you're renting instead of buying the equipment, they also frequently have lower monthly payments.
The flexibility of leasing means that, if your business grows, you can turn in your leased machinery at the end of the lease and obtain new, more powerful equipment for spray foam insulation. In addition, leasing frequently conveys tax advantages since you don't technically own the equipment. Given the reduction in the value of the Section 179 deduction for the 2014 tax year, this benefit alone can justify leasing over purchasing.
For more information about spray foam related equipment, please contact us today at NCFI.