How do you decide the lease term?

The reason there are different lease terms is because the payments go down with longer terms, and for some businesses, that might mean they could afford the payment better. A longer lease also means that the business will always have that fixed cost set aside for that part of the business. Shorter lease terms have higher payments, say a 3 year lease, but the advantage to this is the fees and interest would be less plus the added benefit of upgrading to the latest technology faster.

 

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