If you're itching for a new drone or other equipment to use in your UAV operations, but you're fresh out of funds to pay for it upfront, don't worry! You have options. The key is deciding between an equipment lease with AeroV Financial or an equipment loan with AeroV Financial.
To help you decide, consider these two factors: how much money you have available right now, and how quickly the drone you wish to purchase will become outdated. If you have the money for a down payment, and the drone you intend to finance will last your business a long time, then a finance agreement with AeroV Financial might be the way to go. But if you have little money to put down, or the drone you intend to finance will quickly become obsolete, then you might want to consider an equipment lease with AeroV Financial instead.
LEASE VS FINANCE
AeroV Financial's equipment lease and equipment finance agreements differ mainly in terms of ownership. AeroV Financial's equipment lease lets you rent your drone from AeroV Financial for a monthly payment, but you don't own the drone during the lease term. AeroV Financial equipment finance, however, is a collateralized loan that allows you to purchase your drone.
Once you have repaid AeroV Financial all of the rental payments due under an equipment lease, the drone belongs to AeroV Financial unless you elect to exercise any end of term right to purchase the equipment. With AeroV Financial's equipment finance agreement, once you have made all your payments according to the terms of the agreement, you own the equipment.
AEROV FINANCIAL DRONE LEASING
AeroV Financial offers two main types of equipment leases for your drone operations: an operating lease and a capital lease. Here's how they differ:
- AeroV Financial's Operating Lease - This type of lease has low monthly payments and gives you the option to own your drone at the end of the lease term by payment it's then fair market value. Another name for AeroV Financial's operating lease is a fair market leases.
- AeroV Financial's Capital Lease - AeroV Financial's capital lease has higher monthly payments and are structured more like a loan. The difference is that AeroV Financial doesn't appear on your balance sheet during the term of AeroV Financial's lease. At the end of the lease, you have the option to buy the equipment for a nominal price, like $1 or 10% of the purchase price. The $1 buyout lease or 10% option leases are popular examples.
BENEFITS OF LEASING YOUR DRONE
No Down Payment or Collateral Other than the Drone
If you're looking to finance a drone or the equipment your drone will carry, there are lots of reasons to consider AeroV Financial's equipment leases. First off, AeroV Financial's equipment lease generally requires no money down, and no additional collateral other than the drone, depending on credit worthiness. That means you can keep a good chunk of your cash to contribute to your business's other expenses.
AeroV Financial's Easy Application Process
- AeroV Financial's equipment leasing application process is simple.
- You likely won't need to provide as much financial paperwork as you would if you applied for a traditional small business loan.
AeroV Financial Offers Flexible Terms
AeroV Financial's lease agreements include several options after the lease ends. You can choose to:
- Purchase your drone.
- Continue to lease the drone under new terms.
- Return the drone to AeroV Financial.
- Trade in your current drone for a new or updated drone financed with AeroV Financial.
- AeroV Financial takes care of disposing your old drone.
That last point is one of the major advantages of AeroV Financial's equipment leases. Ultimately, you are no under no obligation to hold on to the drone you are renting, because you don't actually hold title to the drone. If you found that the drone has become outdated over the course of your lease agreement with AeroV Financial, you could easily return it. AeroV Financial will then finance a newer model for you and dispose of the older drone.
Let us show you how the right finance partner can help your ROV business soar.
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