No matter how smart you are, your restaurant needs one important ingredient if it is going to thrive- the right equipment. This post will outline how leasing an Unox XAVC-0511-GPL combi oven can help optimize performance and take your restaurant to the next level.
Commercial equipment is expensive, especially if you need the latest and greatest technology. Luckily, an equipment lease can help you get the specialized equipment your business needs, even if you do not have all the money you need to purchase the combi oven outright. Restaurant equipment leasing is also a great alternative to equipment financing loans if you do not qualify or are not interested in small business loans.
Description Of Unox XAVC-0511-GPL Combi Oven
Unox XAVC-0511-GPL is a combi oven. This countertop features (5), 1/1 GN, or (5) 12” x 20 hotel-size pan capacity, programmable menu, MIND.Maps technology, glass door, and 2-5 /8” shelf spacing. It also features stainless steel interior and exterior. Unox XAVC-0511-GPL is BTU, NSF, and cETLus certified.
Unox XAVC-0511-GPL combi oven details
- Stainless steel interior and exterior
- Selling Units Per Case: 1 ea
- Programmable menu
- MIND.Maps™ technology
- justify-to-right door opening
- Glass door
- ENERGY STAR®
- 2-5/8″ shelf spacing
- 000 BTU
- 0.5 kW
- (5) 1/1 GN or (5) 12″x20″ hotel size pan capacity
Pricing of combi oven leasing
At the end of the combi oven lease, owners will try to sell the oven, either on the open market or to the lessee. Generally, a high risk for appliance owners are types of equipment that are most prone to wear out, become technically outdated, or go down in price. The leasing company factors in this risk when setting lease rates. The owner’s tolerance for risk, the finance costs, and tax circumstances all figure into the lease price you pay for Unox XAVC-0511-GPL.
Commercial Combi Oven Leasing Definitions
If you are considering leasing Unox XAVC-0511-GPL for your restaurant, it is a good idea to understand several significant lease structure definitions, along with the specific payment terms and charges that might be part of your lease contract.
The equipment you need to operate your restaurant that costs almost or above $ 5,000 is usually referred to as capital equipment in the equipment leasing industry. This is the kind of machinery most commonly leased in the United States to preserve cash flow and avoid paying outright for equipment that the lessee intends to use temporarily.
Once you sign up for a capital lease, you generally have the option to purchase the equipment at the end of the lease term- sometimes for as low as $1. Typically capital lease features longer payback terms (you will pay over a longer period) and cannot be canceled early. You might also be accountable for making repairs and paying tax and insurance on the combi oven. Your monthly operating lease payments might be higher with this option.
With a true lease, you generally have the option to return the oven at the end of your lease period. Nonetheless, you can also opt to buy it or roll it over into the lease of a newer appliance.
A skip lease can be suitable for restaurants that are more profitable during specific seasons. During particular months, larger payments will be due. Nonetheless, you can set your payment structure so that during other, traditionally slower months, you can be able to skip payments altogether.
This is a kind of operating lease where the lessor is considered a special-purpose entity for accounting purposes. As the lessee, the machinery you are leasing never appears on your balance sheet, and you can write off the expense.
Do you own Unox XAVC-0511-GPL outright? If so, you can sell it to a restaurant equipment financing and leasing company for a lump sum of money to get access to working capital. But you could then turn around and lease the combi oven back from the lessor so that your restaurant can continue to use the equipment. This is known as a sale-leaseback.
Monthly payment terms
Your combi oven lease agreement (also known as a contract) will outline the terms that you have to follow to maintain the right to use the oven. These will incorporate financial terms such as how much you have to pay per month and when those payments are due. If you miss a due date, you might be charged a late fee and, if you fail far enough behind on your payments, the machinery might be repossessed.
Credit score requirements for Unox XAVC-0511-GPL leases
Just like with restaurant equipment loans, to qualify for an equipment lease, you will need to satisfy the credit score qualifications set forth by the restaurant equipment leasing company. Generally, a higher credit score results in lower rates and smaller monthly payments on your combi oven lease. Typically, there are four different credit score tiers that might affect your probability of credit approval and the cost of your operating lease as long as your credit rating is strong enough to qualify:
Financing tier credit score needed
A Tier Above 700 FICO Score
B Tier 680 to 700 FICO Score
C Tier 620 to 680 FICO Score
D Tier 520 to 620 FICO Score
Note that financial institutions ( like credit unions and banks), online lenders, and restaurant equipment leasing companies have their own set of pricing and approval criteria. The credit tears above can be used as a basic guideline; however, they may not match exactly the qualifications you get with a specific leasing company or bank. Make sure you check the requirements for the institution before you fill out a lease application form.
Restaurant equipment financing and leasing company
A food service business mandates a large number of commercial kitchen machines. At Top Financial Resources, we know that commercial equipment, including combi ovens, comes with a hefty price tag, which is the reason we work with restaurant owners on a regular basis to provide leasing and financing options. We help our customers with simple, cost-effective measures that allow you to retain liquidity and stay on the cutting edge of technology. Our financing and leasing options feature affordable monthly payments so you can keep your bottom line in check while still having the equipment you need to get the job done.
There are numerous advantages of leasing or financing your commercial combi oven. Mainly, many restaurant owners want to have a flexible financing plan. New machinery emerges all the time, and leasing Unox XAVC-0511-GPL means you can use the latest products available without taking on extravagant costs. Moreover, you can test the equipment before you commit to it. When the lease is over, you can simply opt for the newest combi oven or buy the Unox XAVC-0511-GPL.
One of the many reasons many restaurant owners turn to Top Financial Resources for commercial equipment leasing is their flexibility. One of our loan specialists will work directly with you to come up with a plan that satisfies both your budget and needs. To figure out the best leasing structure, we will assess a number of factors, including:
- Your time in business
- Your business needs
- Your monthly budget
Moreso, we are proud to offer competitive rates on our financial products. In addition to our combi oven finance options, we can help you with soft costs like installation. What is more, we work to keep your monthly payments as low as possible so you can use your money for business operations. Working with Top Financial Resources to acquire Unox XAVC-0511-GPL means:
- You avoid the issue of highway machinery and other machine depreciation
- You can continue to grow your restaurant efficiently
- You are not responsible for the maintenance costs associated with leased equipment
- You can retain liquidity since you do not tie up your cash in the combi oven.
Can I lease similar equipment to Unox XAVC-0511-GPL?
We will craft a leasing or financing option that works for the kind of combi oven you need. We have experience in offering restaurant equipment loans and leases. No matter if you need an old or new Unox XAVC-0511-GPL or any other combi oven, our team will be able to offer you with financial options for obtaining the equipment you need. If you are considering acquiring a combi oven for your restaurant, you might also consider:
- Unox XAVC-0511-EPR Half Size Electric Combi Oven
- Unox XAVC-0511-EPL Half Size Electric Combi Oven
- Unox XAVC-0511-GPR Half Size Natural Gas Combi Oven
- Unox XAVC-0511-GPL Half Size Natural Gas Combi Oven
Ready to get started with Top Financial Resources?
Working with us to acquire the equipment you need means you are working with an industry leader. At Top Financial Resources, we give our customers a wide variety of lease and financial solutions from which to choose to acquire the tool they need. Getting started is as simple as filling out our online application on our website. One of our financing representatives will get back to you with credit feedback within 24 hours.
Final word: Unox XAVC-0511-GPL leasing for restaurant
Leasing might be your best option for retaining capital if you do not want to take out an equipment loan. Note that as the lessee, you have certain responsibilities with that lease. You must keep the combi oven in good condition. You might be required to have it regularly serviced to make sure it is still efficient. If you still do not meet the criteria outlined in your lease contract, you might be charged at the end of the lease.