Do you operate a medical center or are you responsible for making x-ray equipment purchases? If your practice requires you to own an x-ray machine in order to properly serve your patients, then you’re probably wondering how much x-ray machine leasing is going to cost you each month.
X-Ray Equipment Leasing Starts with These Stats
Below are a few of the most important stats that an X-Ray equipment financing lender is going to be looking for when you reach out for x-ray machine leasing. These help them to assess the level of risk of your healthcare practice.
- Your credit score.
- How long your business has been in operation.
- Your business credit history.
- X-ray machine cost you want to purchase.
- Preferred duration of your lease term.
If you’re concerned about how your business stats pairs up to other businesses, don’t worry - each business has a unique financial portfolio and virtually every business can get the funding they need to buy a new or used x-ray machine for sale.
How Much Do X-Ray Machines Cost?
Answering how much is an x ray machine is like trying to answer, “how much will a car cost?” It depends on the size, brand, version, whether it’s new or used, and many other factors. First you’ll need to decide if you want a large or small x-ray machine, what types of features you require, and many other specifics that I won’t get into today.
You could be looking at just under $10K for an x-ray device to as expensive as hundreds-of-thousands of dollars for more advanced digital x-ray machine systems.
How much x-ray equipment can I afford to lease?
The Monthly Cost of X-Ray Machine Leasing
Like the last question, it’s not possible to give you an accurate answer that is going to fit every possible scenario. So I’ll start with an example: wanting to lease a $50K piece of x-ray imaging equipment, paid over a period of 2 to 5 years. Let’s assume you have a decent (650) credit score.
The following are the estimated monthly payments you would have to make based on the duration of your lease with a $1 buy out:
- 2 Years Lease - $2.3K/mo
- 3 Years Lease - $1.6K/mo
- 4 Years Lease - $1.2K/mo
- 5 Years Lease - $1K/mo
If you have a higher credit score, great - you’ll probably spend a little less each month for the same piece of equipment. On the flipside, if you have a lower credit score, you’ll have to pay a little more. Similarly, the less years you have been in business, the more you’ll have to pay (or will need to make a sizable down payment upfront).
Click here for a resourceful X-Ray equipment lease calculator tool to see what your X-Ray equipment lease payments could be. Also includes an amortization schedule for your accountant. Use this amortization schedule to give to your accountant during business tax season to help him decide the best way for you to get the best tax write offs now and in the future to lower your taxable income.
At the end of the day, you need to know what large or small x-ray machine you are looking to purchase, how good your business credentials are, how long you want to be making payments, and how much cash flow you anticipate being able to put towards your monthly x-ray equipment lease payments.
Even if you have to pay a little more each month because of a lower credit score or for being a newer practice, reconsider your scenario from a point of view of “how much profit will I still make because of this piece of equipment?”
Ready for an X-Ray Equipment Loan Quote? Click the link below! or Call 866-458-4777!