Copper Mountain Technologies (CMT), a leading Test & Measurement company that develops modular Vector Network Analyzer (VNA) solutions is giving customers the option to lease their equipment rather than buy it outright. CMT is working with the Leasing Corporation of America (LCA) for this offering.
The leasing option is introduced for organizations that may not want to spend capital budget up front since lease payments are an operating expense. This in turn allows the customer to utilize the equipment at an affordable price. Customers are allowed to choose their lease option from 2, 3, 4, and 5-year plans and can pay as they continue their VNA, with a fixed monthly payment and a 90-day deferred payment option. Payments can be made weekly, monthly, or quarterly. At the conclusion of the leasing period the equipment can be bought out for $ 1.00 plus a lease termination fee of $ 99.00.
Leasing does not affect existing banking overdrafts or other credit or HP lines and conserves valuable working capital for more profitable use elsewhere in your business. VNA leasing is fully tax allowable at the rate of tax that the company pays each year. The VAT element is levied on each of the lease rentals, simply claim back every VAT quarter.
Although navigating through the financing process can be a daunting task, LCA has broken down the complete financing process into five easy steps to simplify the leasing process for the customer.
Leasing Process for Using CMT VNA
Step 1: Determine the equipment the business needs. Not all of it needs to come from the same equipment provider either.
Step 2: Complete the Equipment Financing Application. Approval can often be in less than 24 hours. Click here to fill in the application.
Step 3: Once the business has been approved a Lease Corporation of America team member will work with the customer to get the equipment.
Step 4: Once all the financial paperwork is done, the equipment will be ordered and delivered to the customer’s business.
Step 5: Finally, Lease Corporation of America pays the equipment supplier(s) and the lease begins.
Benefits of the Financing/Leasing Process
1. Fixed Payments / Hedge Against Inflation: Unlike loans and credit cards, the finance payment is fixed throughout the term. It will not vary with interest rate changes. Fixed monthly payments provide an excellent hedge against inflation and makes the equipment purchase more affordable.
2. Preserved Credit Lines: Monthly finance payment does not affect the bank or credit lines. Most banks and credit card companies will reduce existing available credit lines with every purchase via a credit card or loan.
3. Affordable Down Payment: LCA does not require a large up-front down payment like loans and credit card companies. Most of CMT’s programs only require first and last payments (typically 5%) in advance instead of the 20% mandated by bank loans.
4. Adding ‘Soft Costs’: Financing allows the customer to roll in services (software, maintenance, etc.) with the equipment so the monthly payment includes the total price. Loans and credit cards do not traditionally combine services and equipment costs into one monthly payment.
5. Avoiding Equipment Obsolescence: Financing makes adding onto existing equipment or upgrading to new equipment efficient and available at any time for our customers. Customers can upgrade their equipment as technology and company’s needs change.
6. Reduces Taxes: Unlike loan payments, finance payments may be deductible. An appropriate tax advisor can be consulted to determine the amount that can be deducted from finance payments.
Click here to learn more about leasing CMT's VNA from the company's local representative.
Click here to request a lease quote from CMT.
