Why should you lease farm equipment?
You should lease farm equipment from LSI Equipment Leasing because leasing can provide more flexibility, simplicity, and cost management benefits compared to purchasing farm equipment outright.
Easy-To-Use Locator Service
- The locator service is a “Free Service” that LSI provides to their leasing customers.
- Contact your LSI rep. with the full description of equipment that you are searching for (any brand of Agricultural, Construction, Trucks or Trailers)
- Your LSI rep. will get back to you, typically within 24 hours
- LSI will evaluate the equipment and negotiate the price at your request
- LSI will send payment and handle the details of the purchase
- It’s fast, simple and the price is right – FREE!
What are the benefits of Farm Equipment Leasing?
Leasing allows you to upgrade to newer equipment more frequently as new technologies emerge. With a lease, you’re not stuck with the same equipment for years.
Manage Cash Flow
Leasing spreads equipment costs over time into more manageable monthly payments instead of a large lump sum purchase price. This can help better manage cash flow.
Lower Upfront Costs
Leasing requires less money upfront compared to purchasing equipment outright. This frees up capital for other investments.
Leases can be structured with flexible payment and duration terms to meet your specific operating requirements.
Farm Equipment Planning
More reasons to lease equipment with LSI
Maintenance costs are often bundled into the lease payment. This simplifies budgeting for maintenance.
Lease payments may be tax deductible as a business expense. This can provide tax savings compared to other financing options.
No residual value risk
With a lease, the residual value risk lies with the lessor. You don’t have to worry about equipment depreciation or resale value.
Obtain Newer Equipment
Leasing contracts allow you to update equipment frequently to take advantage of technological innovations.
Ready to start leasing equipment?
Common Questions about Equipment Leasing
What are the benefits of leasing vs buying farm equipment?
Lower upfront costs, flexible terms, upgraded equipment, manageable payments, tax advantages, less liability risk.
What types of farm equipment can be leased?
Most major equipment can be leased including tractors, combines, hay tools, planters, sprayers, harvesters, tillage equipment, and more.
How long do farm equipment leases usually last?
Typical lease terms range from 3-7 years. Lease duration depends on factors like use and type of equipment.
Who is responsible for repairs and maintenance?
The lessee performs routine maintenance and repairs for the equipment. Dealer or manufacturer warranty’s will still apply.
Are there any tax benefits to leasing farm equipment?
Yes, lease payments may qualify as tax deductible business expenses. Consult your accountant about potential tax benefits.
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2701 Grand Ave, Galesburg, IL 61401