What is an Equipment Lease?
How long are your leases?
What are the advantages of leasing?
What is the process?
How much equipment can I lease?
Who leases?
Do lease equipment to unopened businesses?
What type of equipment can I lease?
Do you provide leases on used equipment or equipment
I already own?
Q: What is an Equipment Lease?
A: Leasing is a contractual arrangement whereby one party
(the “Lessor”)
owns certain equipment and another party (the “Lessee”)
uses the equipment and makes lease payments to the Lessor. A
third party, the Equipment Vendor, is the party who sells
or supplies the equipment to the Lessor.
In all lease arrangements supplied by us, the leasing contracts
are on a “lease to own basis,” with an agreed
upon purchase option at the end of the lease.
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Q: How long are your leases?
A: We provide 24, 36, 48 & 60 month leases. In most cases you
will get more than one option on the length of your lease term as well as payment
amount.
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Q: What are the advantages of leasing?
- Leasing does not tie up your working capital
- You can gain possible tax advantages
- Conserves your bank credit lines
- Provides 100% financing
- Opens a new credit line for future equipment acquisitions
- May enable you to expense every penny of your lease payments
- You pay a fixed rental payment
- You can project costs more accurately
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Q: What is the process?
A: In most cases, the Lessee (you) selects and orders
the equipment before contacting the Lessor. Unless provided
for in the provisions of the lease, Lessors don’t normally
provide equipment warranties. Equipment warranties are between
the Lessee and the manufacturer.
You as the Lessee will undergo a credit check and other underwriting
procedures to ensure you meet the specific credit requirements
of the Lessor. Once you are approved by the Lessor,
you will sign documents memorializing the lease.
By signing the lease, the Lessee (you) assign your purchase
rights to the Lessor, who already owns or who then buys the
equipment as specified by the Lessee (you).
When the equipment is delivered, the Lessee (you) formally
accept it and makes sure it meets all of your specifications.
The Lessor then pays for the equipment, and the lease takes
effect.
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Q: How much equipment can I lease?
A: You can lease a single piece or multiple pieces of
equipment costing up to 1 million dollars. Companies
that continually acquire equipment may use a master lease
to avoid executing a new contract every acquisition.
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Q: Who leases?
A: Lessees range from sole proprietors and small businesses to Fortune
500 Corporations.
In any given year, more than 200 billion dollars worth of
new equipment will be acquired through leasing. In fact, approximately
80% of all businesses use leasing to acquire some or all of
the machinery and equipment they use.
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Q: Do you lease equipment to unopened businesses?
A: Yes, we have programs to lease equipment to businesses
that are unopened, but there are restrictions on when you
can take delivery of the equipment.
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Q: What type of equipment can I lease?
A: You can lease almost any kind of equipment you need,
we’ve
listed some types below. You can choose the equipment you
want, make the arrangements as to the price and specifications,
and allow to supply the financing for you.
- Computers and Software
- Towing Trucks and Equipment
- Rubbish Containers
- Highway Equipment
- Printing Equipment
- Office Equipment
- Auto Repair Equipment
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- Trucks of All Types
- Automobiles
- Construction Equipment
- Restaurant Equipment
- Office Furniture
- Salon Equipment
- And much, much more...
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Q: Do you provide leases on used equipment or equipment
I already own?
A: Any many cases, we can provide a lease on used equipment. In many
cases, we can also provide leases on equipment you already own.
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