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Each option has its own associated advantages and disadvantages attached:


Advantages of outright purchasing your business assets

• You own full title the asset as you have paid for it in full and therefore cannot be repossessed – the only exception is if a charge has been taken over the asset in return for credit.
• The asset is owned by your business from a tax perspective, therefore you are entitled to claim capital allowances.
• The asset has been paid for in full, leaving you free from loan/credit agreements which need to be monitored and notice served by the minimum term.
• Your business does not have to go through any credit checking agencies.

Disadvantages of purchasing your business assets outright
• You are paying for the asset completely up front out of your businesses working capital reducing the capital available to you immediately for other requirements.
• If you pay for the asset outright using your business overdraft, credit card, or bank loan, there are other charges you also need to factor into the total cost of the asset.
• You cannot spread the cost of the asset over time, spreading the cost works well if you need to budget monthly against money coming into the business.
• Your bank has the option to withdraw all loan facilities and demand repayment with very short notice, leaving your business cash-starved.
• You are unable to take advantage of the tax benefits associated with leasing, such as deducting the cost of equipment rentals against your pre-tax profits.
• A small company placing small orders may often find they have less bargaining power due to their smaller economies of scale as a business.
• Through buying outright, a small business is hedging their bets that it will not need the capital currently available to them in the immediate future.


Advantages and disadvantages of leasing - continued..>>>



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