The primary advantage of leasing equipment is that it maximizes cash assets: if you need to purchase a major piece of equipment, you can use your limited resources for other aspects of your business that need attention.
From that perspective, leasing can be a powerful resource to help your business grow.
An additional benefit is that the equipment lease payments can usually be deducted as an expense (consult with your accountant to determine applicability for your business).
The cost of course, is the interest fees that you’ll pay – the price of using the funds for the lease period.
Calculate how it could play-out for your business here: