Masonry Magazine December 2004 Page. 12
It's more advantageous for you to work with a leasing company that understands the masonry industry.
Your leasing company should also understand your firm's tax and cash flow requirements. Lease payments are treated as tax-deductible overhead expenses from business income, rather than as wholly owned assets that are depreciated in accordance with IRS schedules.
Residual rates - the equipment's value at the end of the lease term-are another key reason to work with a leasing company knowledgeable with the masonry industry. When a leasing company has the knowledge and experience to set the residual accurately, they can provide you with the best possible lease payment schedule.
3. What is the Total Lease Payment?
Get to the bottom line. Find out the total monthly payment, the number of payments, and any additional lease costs, such as insurance, taxes and other charges. This will eliminate misunderstandings or confusion over the life of the lease. Also ask if there are late payment fees or other surcharges that you could potentially incur during the lease term.
4. What Happens if the Equipment is Damaged or Destroyed?
You should know what your liability is for the equipment you are leasing. Ask whether you have to pay for lost or damaged equipment.
5. Are There Any Other Obligations For the Equipment?
Your leasing company can assume costs for the equipment's insurance, taxes and maintenance. If it does, make sure that these conditions are clearly spelled out in your lease agreement, and then review these provisions with your leasing representative. You can also determine whether you want the leasing company to handle options such as installation, maintenance, asset management and tracking, and other services.
6. What Happens if I Want to Change or End the Lease Early?
You may be subject to additional payments or charges if you want to terminate a lease earlier than the agreement states. An unexpected equipment return to a leasing company can change their portfolio mix, since they plan for assets to be part of their portfolio for a specific period of time. Ask up front what you should expect if you end your lease early or unexpectedly.
The Voice of the Mason Contractor
MASONRY COMPUTER ESTIMATING
Now in 3D
by Tradesmen's Software
Masonry Computer Estimating
That Does It All... in 3D!
See the actual building being displayed in 3D as you do your take-off in either PLAN mode, PERSPECTIVE mode, OUTSIDE mode, INSIDE mode or at any ELEVATION.
Complete your take-off, then walk through or around and see the actual finished building(s).
SAVE $- No more walls, bandings, openings or even buildings missed from your estimate.
Figure special wall shapes like PIERS, GABLE, SLOPE or STEPS!
Calculates CMU: HALF and FULL BULLNOSE, DOUBLE BULLNOSE, CHAMFER, or SASH for any or all OPENINGS, JAMBS, CORNERS, CONTROL JOINTS and any SPECIAL CUTS.
Integrate with PROJECT COST and DIGITAL PLAN MEASURING SYSTEMS.
Windows 98/NT/ME/2000 or XP compatible.
30 day money back guarantee.
Computer illiterate? Let our 40 years of masonry and 10 years of computer experience help you help yourself. Support available 7 days a week.
Tradesmen's Software, Inc.
1-800-494-4899
See for yourself at:
www.tradesmens.com
Please visit us at The World of Concrete Booth #3326
CIRCLE 163 ON READER SERVICE CARD
December 2004
Masonry 13