Lenders may also offer equipment leasing. Although there are some nuanced differences between equipment financing and equipment leasing.
- With an equipment loan you own the equipment at the end of your repayment period.
- With equipment leasing, you have the option to purchase the equipment at the end of the term or enter into a new lease for the equipment you need—similar to leasing a car.
Generally, equipment leasing is more expensive than equipment financing in the long run. Refer to our equipment leasing vs. financing guide to learn more about the differences between these options.