It helps preserve cashflow - acquire equipment whilst maintaining your cashflow, why pay for your equipment in advance?

It’s easier to plan - with fixed interest rates comes fixed monthly payments making it easier to budget. 

It’s easier to grow your business - by spreading the cost of equipment over a term, you don’t have to wait until you have saved the funds for outright purchase and you can then use that capital for business activities.

It’s tax efficient - payments on qualifying leases are written off as direct operating expenses reducing short term taxable income with lease payments offset against taxable profits. VAT can also be reclaimed on monthly payments.

It also preserves existing credit lines which extends your access to funding. 

You don’t pay your staff three years in advance, so why pay for equipment that way?