Does Your Business Need to Lease New Or Used Spin Bikes?
Spin bike leasing for stationary fitness bikes such as spin bikes, upright exercise bikes, and recumbent bikes is available from a number of our equipment leasing partners in both Canada and the U.S.
Whether your business needs to lease finance one spin bike or several, equipment lease financing can be arranged on both new and used assets.
If you’re also looking to acquire other types of exercise bikes or other forms of exercise equipment, equipment leasing can also be arranged where the different types of equipment are all in one lease or separate leases.
One advantage of this type of asset is that the capital requirement can be broken down into a number of different leases to allow for maximum borrowing or leasing power. While many leasing company will provide commercial equip. leasing for this type of asset, they will also have limits to the amount of funding they can provide to any one company. So if the capital requirement is over $25,000 as an example, it may make more sense to get partial approvals at multiple leasing companies versus trying to get all the lease financing in one place.
Lease financing works very similar to getting a regular loan. For an equipment lease, the only real difference in the process is that once you have picked out the assets you want and negotiated a purchase price and purchase terms, the lease company will buy the assets directly from the vendor and provide a lease back to you for their use. At the end of the lease term, you can have the ability if you choose to purchase the assets outright from the leasing company for a defined cash amount.
Get Spin Bike Leasing That Meets Your Business Needs
If you’ve got some spin bikes lined up and now need to capital to complete the purchase, give us a call so we can quickly process your lease financing application and get a lease approval in place as fast as possible.
As we mentioned earlier, used equipment can also be financed through a lease. Just remember that used assets will typically require a larger down payment, come with similar to slightly higher rates, and potentially shorter repayment terms depending on the age, condition, and expected remaining useful life of the asset.
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