Ocean Ridge Community Ocean Isle Beach, NC
Hands off Your CAPEX – Considering Leasing Your New Fitness Equipment
Trudie Peterson, the Community Manager at Ocean Ridge, had her heart set on three new recumbent bikes for her fitness center. These machines are a perfect fit in an active adult community like Ocean Ridge. But she simply could not pull another dollar from capital expenditures in 2018 – this was July – and she didn’t want to wait. Her residents didn’t want to wait. So, she reached out to Heartline Fitness asking what “creative financing” options were available to her, having seen that as a bullet in some Heartline marketing.
Leasing was the answer. Trudie got a 36-month lease with a monthly payment of less than $75. Problem solved. The bikes were installed as soon as the lease application was approved – less than 48 hours after it was submitted.
Leasing can solve a lot of problems for residential properties. It allows you to replace, add and/or upgrade your fitness equipment on your own timeline without depleting your capital expenditures fund.
Other advantages of a lease:
1) Lease payments may be 100% tax deductible.
2) Leasing permits 100%-plus financing with no down payment (including soft costs, warranties, tax, freight, and installation).
3) Leasing conserves valuable working capital.
4) Leasing preserves bank credit lines.
5) Longer and more flexible terms are available (up to 60 months).
6) Payments are fixed; not a floating rate.
Next time you want to make changes to your fitness amenities, talk to your Heartline Fitness sales rep about the variety of leasing programs we offer to find the one that fits you.