You need new commercial kitchen equipment – for cooking, baking, food prep, holding, refrigeration or warewashing. Perhaps for a restaurant you’re opening. Or you want to upgrade to new, more efficient, higher performing models to help improve your customers’ dining experience.
Either way, you’re looking for an option that will allow you to put that new equipment in your kitchen, when you need it, within your financial means. While minimizing, as much as possible, your total cost of ownership.
Purchasing is always the best and least expensive option in the long run. You know that. But you may not have the capital to pay cash now. You may have already committed your resources to other business priorities. Or you may be in a place where future business conditions look uncertain. So you want to preserve capital for later and minimize risks and expenditures now.
Hobart and the ITW Food Equipment Group offer you an affordable option: our lease-to-own program. Through lease-to-own, you can install your new equipment now, and you’ll own it at the end of the lease period.
The Hobart and ITW lease-to-own program comes with additional benefits, including affordable financing and tax deductions to help you grow your business faster, easier and more affordably. Here’s a look at these and other lease-to-own advantages to help you when purchasing isn’t an option:
- Available for all ITW Food Equipment Group commercial kitchen equipment. That includes cooking and food preparation, warming, refrigeration, warewashing, weighing and wrapping, and ventilation equipment made by the ITW family of premium brands. Most ITW appliances are ENERGY STAR® certified. For our attention to energy efficiency, ITW has been named the U.S. Environmental Protection Agency’s ENERGY STAR® Partner of the Year.
- Financing for the complete package. Through our strategic partner, Marlin Capital Solutions, Hobart and ITW offer financing to help you lease-to-own any of our industry-leading commercial food equipment.
Financing is available not only for the equipment, but also for the installation cost, freight, service plans through Hobart Service and extended warranty. The entire package.
Terms and payment schedules can be structured to fit your cash flow, and credit can be approved within two to four business hours for purchases under $150,000.
In addition, city, county and state government entities qualify for tax-exempt financing.
- Tax advantages. – When you lease-to-own, you can deduct – through IRS Section 179 – the full price of the equipment (up to $1,040,000 for one piece and up to $2,500,000 for all equipment) from gross income in the 2020 tax year. Plus, bonus depreciation under Section 179 allows a first-year depreciation deduction of 100% (vs. 50%) of the adjusted gross basis of qualified new property.
- Preservation of business capital. When you choose Hobart’s lease-to-own program, you can obtain equipment critical to your business’s success, without exhausting after-tax capital. You can reserve your financial resources for other business needs and emergencies – and to help get you through uncertain business conditions.
- Ownership at the end of the lease period. Because ITW builds durable, long-lasting equipment, you’ll benefit from your purchase for years to come, without monthly payments.
If you’ve considered renting instead of purchasing, which is an option that’s available for dish and glasswashers, monthly payments will continue indefinitely.
Learn More About Lease-to-Own with Financing
To start a conversation about leasing to own ITW commercial food equipment and financing options, reach out to John Gundersen of our strategic partner Marlin Capital Solutions: (888) 479-9111, ext. 4340, or firstname.lastname@example.org.