Episode 23

Costly Mistakes When Financing Equipment

by Business of Aesthetics | February 12, 2021

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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. 

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

Website: www.ileaseworks.com 
LinkedIn: www.linkedin.com/in/tydlacka 
Telephone: 612 747 7915


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Category: Business of Aesthetics Podcast
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