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Equipment Finance And Leasing

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Bowflex has ushered in a new revolution when it comes to home gyms, with a wide range of models to pick from and the guarantee of excellent results in just six weeks. Bowflex has managed to create quite a niche in the fitness sector. It has been quite popular with customers and one important reason for that, apart from the quality and effectiveness of their equipment are the different buying options they provide. Following is a brief guide as to how to buy their products. For further queries you can log in to their website.



One of the most popular schemes they have is the Zero Down financing option. What you will need to avail this scheme is a Bowflex Credit Card. And the benefits you'll enjoy include Zero down financing, no annual fee, low monthly installments, a secure online application process and a dedicated credit line for all your Bowflex purchases.

Obviously you will be keen to know how you can get your hands on a Bowflex credit card. The process is actually very simple. You can of course apply online. The details you need to provide are your name, home address, home phone number, social security number, employment or income information and may be some other information as and when required. The whole process is very secure and the website is approved by Verisign. So you don't need to worry about the security angle of it.

You can also call Bowflex to apply for your credit card. In fact, you can even learn the status of your application for a credit card by calling them up.

The use of the card is as simple as getting it. You can again use it both online or over the phone.

The buying options that Bowflex provides are mainly two ? Shop and Apply or Apply before you Shop. The first option lets you browse through their products, select one for yourself and then buy it by applying for the credit card. This way you decide on what to buy first and then apply for the financing.

The other option allows you to apply for the financing before you actually do any shopping. If your application is approved you will get two hours to shop for your product. The limit of two hours is kept for security reasons and is only there to serve your interests. However, if you cannot buy your product in two hours you can always come back and buy your product once you have received your credit card through the mail in about seven to ten days.

So buying a Bowflex product is as easy as using it and the rewards are endless. So what are you waiting for? Get yourself a home gym and get the figure that you always craved.
Equipment Finance And Leasing
In general is available through two routes - hire purchase and leasing. Under a hire purchase arrangement, the ownership gets transferred to the customer at the end of the hiring period while in a leasing arrangement the customer must return the equipment back to the leasing company.

In both the options, the customers must pay an agreed monthly or quarterly rental for the length of hiring/leasing period. In this article we will talk about leasing and its various aspects.

This non-transferring of the ownership is the fundamental characteristic of the lease arrangement. During the period of lease, the customer pays monthly or quarterly (or whatever is agreed) to the leasing company. This rental payout is deductible from income in some cases (except for a finance lease).

There are various types of leasing:

Finance Leasing

This comes closest to the hire purchase option of asset financing with one major difference ? the ownership of the asset doesn't get transferred to the business customer at any point of leasing period.

In this arrangement the customer pays the full cost of the equipment, plus the charges in the form of lease rentals over the period of the lease. The customer also gets to bear risks and enjoy benefits usually associated with the ownership without actually owning the asset ? he must bear the maintenance and insurance cost of the asset and will have to treat the asset as a capital asset in the balance sheet.

At the end of the lease term, usually the asset in question is re-leased to the customer at much reduced payments or is sold second-hand to an unrelated third party.

Operating Leasing

While the term for a finance lease is long, an operating leasing is usually resorted to if the need of equipment is for a shorter period. Here the full cost of the equipment is not recovered and at the end of the lease term, usually the equipment is leased to some other customer or is sold second-hand.

This type of lease is fairly common for cars and construction equipment for whom there is a mature and ready second-hand market. The usual period is of two to three years or longer, but always short of the working life of the asset. The leased asset would not go in the balance sheet as part of capital assets. Rather the lease expenses will be treated as deductible expenses in the income statement.

Contract Hire

This is a variation of an operating lease and is mostly used for vehicles. With this option the customer gets the chance to use the new asset without bearing the risks associated with ownership. Here leasing companies agree to bear some part of the management and maintenance expenses. You need to work out full details with the leasing company.
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About Author
Both Nazima Golamaully & Richard Heaney are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Nazima Golamaully has sinced written about articles on various topics from Home, Aerobics and Home Gym. For a comprehensive guide to choosing, buying, setting up, using and maintaining your own home gym visit at. Nazima Golamaully's top article generates over 27100 views. to your Favourites.

Richard Heaney has sinced written about articles on various topics from Finances, Mortgage and Finances. Richard Heaney is a writer on business and finance specializing in writing on financial planning, and asset finance manag. Richard Heaney's top article generates over 1600 views. to your Favourites.
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