This is the last in a series of four posts about equipment finance that we hope will be useful for small businesses. Enjoy!
Over the last week, I’ve sought to give you simple advice for buying equipment and securing equipment finance. Today’s edition slots in after you’ve gotten a plan, found the markets you intend to scour and secured the financing you’ll need, and has to do with one very important factor: Quality.
It’s critically important, when it comes to your equipment, to make an investment in the future. If you’re purchasing or leasing a backhoe for your construction business, for example, you don’t want to skimp on it. You’re investing thousands of dollars in this one piece. Sure, you can go for something cheaper, but the costs of maintaining said backhoe are likely to add up to more than you saved.
In fact, I would stress that point. The last thing you need is to be paying back the purchase cost for an expensive piece of equipment and have it break down because quality was not a motivating factor in your buying process. By ensuring you’re getting a good backhoe, computer or whatever you need up front, you will more than likely save a lot of money over the long haul. Who doesn’t love that?
Hopefully these tips, while simple enough, have been helpful. If you have more to add, leave them in the comments!