Lease Program Now Available for EV ARC™ Solar EV Charging SystemsWouldn’t it be nice to find one company that benefits no matter who is winning in the $6 trillion EV charging[...]

Customers have been asking us for the advantages that a lease program affords including a lower cost-of-entry, potential tax benefits and precious capital preservation among other benefits of leasing programs. Well, it's here. As of August 1, 2024, customers can take advantage of the new One-Pay Lease program.

Why lease?

There are many advantages to leasing equipment and it depends greatly on your organization's goals and financials so work with your internal financial leaders to assess the benefits for your organization. But there's no mystery here. Leasing is a broadly used financing mechanism. According to the Equipment Leasing and Finance Association (ELFA), equipment leasing and finance is a $1 trillion industry that helps all types and sizes of commercial businesses, non-profits and government organizations acquire the equipment they need to operate.

Here are just some of the benefits ELFA touts for leasing:

• Save capital by reducing current cash spend. If preserving cash for other needs of the organization is a priority, then a lease can reduce the initial cash outlay needed to acquire equipment.
• Avoid technology obsolescence. This is particularly strong and relevant for new equipment, emerging industries, early-stage technologies, etc. If the pace of innovation is high, a lease allows an organization to get the latest technology, and upgrade after the lease term if better technology becomes available.
• Remain flexible with equipment. If you are unsure of your future needs a lease doesn't lock you into long-term ownership necessarily. For example, a piece of equipment with a 15-year operational expectancy may or may not be needed for that timespan. A lease affords the flexibility to scale equipment mix and acquisition. Look for a lease that gives the option to purchase the equipment (not all leases do) in case it becomes critical to your organization.
• Shift CAPEX to OPEX. OK, now we're getting a bit deeper, and your finance and tax leaders need to weigh in on this. But purchasing equipment, where the organization takes title and depreciates the asset over time, is in most cases a capital expenditures (CAPEX). Leased equipment in most cases falls into the OPEX or operating expenditures category, and can have significant tax advantages for some organizations. To determine if this is advantageous or desirable for your organization specifically consult with your tax and finance professionals.
• Gain cost predictability. A lease will have very specific terms so costs over time can be planned.
• Reduce cost or ownership. Lease terms often include extended warranties, which can be expensive to buy if you purchase vs lease the equipment.

How does Beam's lease program work?

The One-Pay Lease can be used on as many EV ARC™ solar charging systems as you'd like. We've made a lease option easy to assess and implement. Information on the program is included on all proposals and you can always call your Clean Mobility Expert for details.

Here are the basics:

• The lease is based on the total cost of your equipment, including add-ons like the Emergency Power Panel, AC/USB ports; basically the capabilities and features of your EV ARC™
• It's a "One-Pay Lease" which means instead of paying every month, one payment is made up-front.
• The up-front payment is 60% of the total cost of your equipment
• The term is 5 years from delivery date, and includes a 5-year warranty, so if something goes wrong, you just call us
• At the end of 5 years you chose one of three options:
  • Renew the lease for another 5 years at the same 60% of that original equipment cost
  • Purchase the EV ARC™ for 65% of that original equipment cost
  • Or Beam comes and removes the EV ARC for a 10% recycling fee

Net, Net…

If you are looking to lease or buy EV ARC™ solar charging systems, it just got easier. A lease program provides a flexible option for making fast progress on starting or expanding your EV charging infrastructure initiatives. For more details or to get started with the One-Pay Lease, contact your Clean Mobility Expert or email [email protected]. We're here to help.

Sandra Peterson

VP of Sales and Marketing at Beam Global

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