Costly Mistakes When Financing Equipment

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Proper financing often is the elixir that brings success to your practice and it also has a close relationship to acquiring physical resources that assure a smooth run for your practice. Listen to this week’s episode where Tony Tydlacka, President & CEO of iLeaseWorks shares with you the five costly mistakes you should never make when financing equipment.

Business of Aesthetics by Naren Arulrajah

Key highlights

Background on Tony Tydlacka & iLeaseWorks
The true cost of borrowing
1. How iLeaseWorks helps doctors to calculate the cost of borrowing
2. The cost that is involved in that service
What is iLeaseWorks’ approach when working with customers?
1. Who do they work with?
2. What is their end goal?
3. How do they look at a deal?
Unraveling hidden charges
1. Evergreen clauses
2. Advanced payments
3. Simple interest rates
4. APR
Simple interest vs. APR
1. Declining principal balance
2. Importance of getting an amortization schedule
Advance payment and what is downpayment?
1. How does iLeaseWorks help doctors by reviewing contracts?
2. Cost of ownership and cost of borrowing
Early payouts
1. Latest practices in borrowing?
2. Payment penalties