Medical Equipment Finance

Most medical equipment, from small specialty items to large, expensive pieces, can be financed. Medical equipment finance is available for diagnostic instruments, imaging systems, endoscope technology and scientific research devices. Financing is also offered for surgical instruments, operating room equipment, dental tools and other equipment related to the fields of health care and medical science.

The team of professionals at Platinum Direct Finance will assist you in finding the type of medical equipment financing that best fits your situation.

Asset lease and equipment rental are the two most popular forms of financing used in medical equipment finance.

With an asset lease, the lender buys the medical equipment on behalf of the borrower, who makes fixed monthly payments to the lender for the length of the contract. Although the lender maintains outright ownership of the medical equipment, the customer enjoys the benefits of ownership including full use of the medical equipment.

Upon the conclusion of the arrangement, the customer has several options. He can take ownership of the medical equipment, free and clear, after paying a residual on the lease. He can re-finance and extend the length of the asset lease. He can also opt to sell the medical equipment.

An asset lease comes with several advantages, including fixed interest rates, steady monthly payment amounts and the possibility of flexible terms on the agreement. The customer is fully aware of all of the costs before signing the contract. Another benefit for the customer is that the medical equipment does not remain on his accounting books as a potential liability.

According to the terms of a medical equipment rental contract, the lender purchases the item on behalf of the customer and then rents it back to him over a stretch of time that both parties have agreed upon.

After making all of the monthly rent payments, at the conclusion of the contract the customer can give the medical equipment back to the lender, purchase it at fair market value or extend the length of the rental agreement.

Many customers discover that opting for an equipment rental contract is a more efficient strategy than paying cash for a medical instrument. This is particularly true when it involves medical equipment that comes with a short useful lifespan. Payments can be claimed as tax deductions.

Get started on securing your medical equipment finance by contacting the team of loan professionals at Platinum Direct Finance today.