Commercial Ice Machine Leasing Information & FAQ

Why purchase when you can lease for less?
Our leases include all preventative maintenance and service calls!

The next time your business needs a new ice machine should you buy it or lease it? Take a look at the benefits of leasing and the downsides of buying ice machine equipment.

Leasing: The Benefits

Leasing keeps your equipment up-to-date. Like all equipment ice machines eventually become obsolete. With a lease, you pass the financial burden of obsolescence to the equipment leasing company. For example, let's say you have a lease on an ice machine. After that lease expires, you're free to continue month to month or to lease whatever equipment is newer, more efficient or just a different type of ice. (This is also a reason some people prefer to lease their cars.) In fact, 65 percent of respondents to a 2005 Equipment Leasing Association survey said the ability to have the latest equipment was leasing's number-one perceived benefit.

You’ll have predictable monthly expenses. With a lease, you have a pre-determined monthly line item, which can help you budget more effectively. Thirty-five percent of respondents to the Equipment Leasing Association's survey said this was leasing's second-highest benefit.

You pay nothing up front except for the installation. Many small businesses struggle with cash flow and must keep their coffers as full as possible. Because leases rarely require a down payment, you can acquire new equipment without tapping much-needed funds.

You're able to more easily keep up with your competitors. Leasing can enable your small business to acquire the required equipment that might be otherwise unaffordable. The result: You're better able to keep up with your larger competitors without draining your financial resources.

Buying: The Downsides

The initial outlay for needed equipment may be too much. Your business may have to tie up lines of credit or cough up a hefty sum to acquire the equipment it needs. Those lines of credit and funds could be used elsewhere for marketing, advertising or other functions that can help grow your business.

Eventually, you're stuck with outdated equipment. As I mentioned earlier, a growing small business may need to increase capacity or change the type of ice or even the way it is dispensed periodically. That means you're eventually stuck with outdated equipment that you must donate, sell or recycle.

While comparing our lease to another, ask these questions:

Q. Do I have to pay for sanitizing, service and maintenance?
A. Not with Cary Services, Inc. These expenses are included with your lease.

Q. What kind of lease is this?
A. With an operating lease, the leasing company retains ownership, and for tax purposes, the equipment is considered a monthly operating expense rather than a depreciable asset. Operating leases are generally more popular among small businesses because they don't tie up funds.

Q. How long is the lease for?
A. Our leases for equipment that we have in warehouse are for a minimum of one year. After that initial period, the agreement can be cancelled with 30 day notice. If you prefer brand new or specialized equipment, we require a 3 year leases. Our typical lease has been ongoing for 5 years or more. Once the equipment has served it useful life, we replace it.

Q. Does the equipment have to be insured?
A. We require you to insure the leased equipment. If you don't, fees may be added to your monthly payment to cover insurance.

Q. Can I add to the lease?
A. YES! We don't mind if you add equipment to an existing lease or need to make changes that fit your needs. Your lease payment will be recalculated accordingly; lease terms don't usually change.

Q. Can I terminate the lease early?
A. What if you no longer need the equipment you're leasing or you want to upgrade to newer technology sooner than you expected? We will work with you as best as we can, but it is your responsibility to complete the lease term that you agreed to.