Medical Equipment Financing

Medical professionals, in general, prefer leasing medical equipment or borrowing money from the bank in order to finance the purchase of their equipment. The decision regarding whether to buy or lease depends on the nature of the equipment. Generally, ownership is desired when the object under consideration is expected to appreciate in value. A purchase is justified in case of objects that depreciate, provided the buyer can recover the amount of money invested. Generally, any office equipment has a useful life of 7 years. Medical equipment too is depreciated over a period of 7 years. Considering the cost involved, the depreciation, and the chances of obsolescence, leasing it is a better opti