|
|
Why lease - why not just borrow the money?
|
|
|
If you borrow money to buy and own equipment,
you are using up available credit, which, if used for other
purposes, has the ability to earn a return much higher than
the cost of the lease payments. Leasing offers a new source
of credit with the added benefit of being able to "expense"
the payments in most instances.
|
| |
|
 |
|
|
Who can lease? |
|
|
Any company, association, non-profit
organization, or individual that is using the equipment for
a business or commercial use. |
| |
|
|
|
|
What are the up-front
costs for a lease? |
|
|
Usually, just the first monthly
lease payment. Unlike a down payment for a purchase, these payments
are smaller and are applied to your total lease payments. We
do not charge an application fee. |
| |
|
|
|
|
Can I cancel the
lease? |
|
|
The lease is noncancelable. However,
you may arrange for prepayment of the lease or upgrade to a
more sophisticated piece of equipment. |
| |
|
|
|
|
Can I add equipment
to the lease? |
|
|
Yes, you can add equipment to
the lease at any time. In most cases, any equipment added to
your lease must cost at least $5,000 or more. |
| |
|
|
|
|
What about sales
tax? |
|
|
Sales tax is added to your monthly
lease payment each month and charged separately where applicable.
|
| |
|
|
|
|
What is the typical
process for leasing equipment? |
|
|
You fill out a simple, one-page
credit application. In certain instances, other financial information
may be required such as tax returns or financial statements.
The supplied credit information is reviewed and upon approval,
the lease documents are prepared and sent to you for signing.
A purchase order is then issued to your equipment vendor. Upon
delivery of the equipment and acceptance by you, the equipment
is paid for and the lease commences. |
| |
|
|
|
|
What about insurance?
|
|
|
For your protection, it is required
that the equipment be insured. You simply instruct your own
insurance agent to send a certificate of insurance to us at
no additional cost to you. |
| |
/*
*/
