When businesses need to acquire assets like equipment, vehicles, or office space without the upfront cost of purchasing them outright, leasing becomes a practical solution. Leasing offers flexibility and helps conserve cash flow, which is crucial for business operations, especially in states like New Jersey, where operating costs can be high. However, navigating the world of leases can be tricky, as there are different types of lease agreements to consider. Two common types are operating leases and finance leases, and understanding the differences between these two options is essential to making informed financial decisions. This article will explore the key differences between operating leases and finance leases, and offer insights on how businesses in New Jersey can choose the right option to suit their needs.
