Something we pride ourselves on here at the Tool Cabin is our ability to help tradesmen build their companies in Tulsa. A big part of this is the understanding that new tools are expensive and you don’t always have the money when you need to replace or upgrade tools. This is why we offer flexible financing plans to help with the monetary side of things. Try our lease-to-own program to get the tools that you need now with the flexibility of a lease agreement. Keep reading to learn more about our options.
How does the lease work?
Similar to a car, leasing a tool is a financing option that allows you to essentially rent a tool without paying the upfront costs of buying it outright. You continue to pay the monthly fee to use the tool, but when the term is complete you do not own the tool.
This can be helpful if you’re looking to use a tool for a specific long-term job, but don’t feel that it would benefit you to own the tool after completion. You can have full access to the tool without having to find a way to get rid of the tool after the lease term is finished.
Additionally, a lease can be more expensive in the long-run than a traditional business loan or financing plan, but it’s a great option for a business that might be starting up or is low on funds at the time the tool is needed.
How does lease-to-own work?
A lease-to-own program is where you lease equipment for an agreed term, but a portion of your monthly fee is set aside to put toward the purchase of the equipment. This means that you can lease trusted brands like Makita, Senco, and others with the option to buy them in the end. If you feel that you’ll be in a better position financially once the term of the lease is complete, this can be a great option. You can pay toward the final price of the purchase of the tool while using it and lower the final purchase price. Keep in mind that your monthly lease fees will not go entirely toward the purchase, only a portion. You also have the option to buy out the remainder of the lease and purchase the tool outright at any time.
In addition to allowing you to pay for a portion of the tool while using it, you can opt-out of the final purchase in the end. If you use the tool for what you need then decide you don’t need it, a lease-to-own agreement is usually flexible enough that it has an option to forgo the final purchase at the end.
Is lease-to-own right for me?
This depends entirely on your financial situation with your business. If you have the funds to purchase tools outright or the ability to use a business loan or credit card to buy tools, this might not be the best way for you to go. But if you’re in a pinch financially and need tools immediately, the Tool Cabin will help out with our available options. Our team can fully outline the terms and conditions that come with your lease agreement.
Contact the Tool Cabin today
If you feel that a lease-to-own program in Tulsa is right for you and your business, give us a call at the Tool Cabin and we’ll work with you to set up a payment plan. Our experts are always available to help you make the best financial decisions for you and your business. Reach out by calling 918-703-2339 or send us a message. We are more than happy to provide flexible financing options to our customers.