Fitness equipment is what you need to get and stay in shape and Fitness Equipment Leasing is what you need to get your business into great shape. Whether you are trying to preserve cash, upgrade your current equipment or attract new customers, equipment financing can help you get the exercise equipment you want right away. Lease terms may vary from three to five years depending on the type of equipment and exercise machine financing rates may vary depending on your credit.
When leasing fitness equipment there are a number of options. You can get an option to replace your old equipment for new equipment after the term of the original lease is up. Your exercise machine lease agreements can offer you free maintenance, reduced payments and savings on repairs as well. You can even choose to lease used fitness equipment.
How to Start
- Determine your fitness machine requirements and costs first. Know how you will use your equipment and determine what kind of value you need to create to meet your business objectives. If you are planning to keep the exercise machines on a short term basis then quality and cost may not be important to you but if the equipment is a critical long term investment for your commercial gym or school then you might actually choose to upgrade your equipment if the financing terms are favorable. Understand all costs upfront, including initial moving and delivery fees and finance fees found in the fine print may make an important difference to your success. So assessing your requirements and understanding the costs is the first step before leasing any sort of equipment.
- Do not make a final product decision until you have fully reviewed your options. Once you have chosen a type of fitness equipment, review multiple equipment manufacturers, read product reviews, shop fitness supply distributors and equipment financing companies and most importantly don’t forget to measure the space where you want to set-up the equipment. Make sure you have sufficient space for all the exercise equipment you are planning to lease. Considering the number of people using the equipment, determine the number of units you may want to lease to meet your requirements.
- Fill out a fitness equipment lease application. If the total lease amount is less than $50,000, many companies have a simple form you can fill out with your personal information and the finance company will review your financial history, retrieve your credit score and determine your finance qualifications. If you are financing fitness equipment for more than $100,000 than the lease application may include more information regarding your business such as business financials and banking relationships. If you have poor credit or no credit history don’t give up. There is lot of finance equipment leasing money available today so there is a good chance of success but be prepared, your personal credit may affect finance terms and rates. Make payment options and payment methods a part of choosing the best fitness equipment leasing company for you.
- Sign a lease agreement that is favorable for you or your business. A single lease agreement for all equipment makes it a lot easier to manage and typically allows you to get better terms. Arrange for payment and wait for the equipment to be delivered.
- Receive delivery of the equipment and check to be sure that you received what you ordered. Once your fitness equipment is in place, perform the required maintenance as defined in the lease agreement.