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You
were probably just wondering ...
Who can lease?
Any company, organization
or association. At present we do not lease equipment to an individual
for personal use.
How
do I apply?
Quick, easy and secure, apply
on-line.
Exactly
what has to happen before I receive the equipment?
We review the credit information
supplied on your application.
A leasing consultant reviews the process and documents with you. Documents
are prepared. You read carefully, sign, date and return documents. The
equipment is shipped.
How
much does leasing cost?
Leasing is not expensive. Your monthly
payment is determined by the options you decide upon. If you
are asking how leasing effects your bottom line when compared to other
options, consider a lease
vs. loan vs. buy comparison.
How
is the monthly payment calculated?
Monthly payment is determined by
a Lease Rate Factor: a periodic rental payment to a lessor for the use
of assets. Lease rate factor X equipment cost = your monthly payment.
When
does the lease start?
When you have verbally acknowledged
that the equipment you ordered has been received and is in good working
order.
What
are my options at end of lease?
Lessee has an option of continuing
to lease, purchasing the equipment, or returning it to the Leasing Company.
Should you choose to purchase the equipment, the purchase price is determined
by the Fair Market Value (FMV) of the used equipment. Another option is
the $1.00 Buy Out, at end of lease, you pay just $1.00 to purchase the
equipment. See our end-of-lease-options
page.
What
if the equipment I receive has problems?
You will be contacted when your
shipment arrives to ensure you receive exactly what you ordered.
After your initial receipt of the equipment, your vendor will troubleshoot
problems or replace equipment as defined in your warranty. Lessee
receives benefits of all "buyer" warranties and is responsible
for maintenance.
Who
owns leased equipment?
The Leasing Company, as lessor,
is the owner of leased equipment until you choose to purchase the equipment
at end of lease.
May
I end my lease early?
If you choose to end the lease
early, you may. It is a rare situation that would make terminating a lease
during its term an advisable option but there is no penalty for early
payment. We attempt to maximize your options with equipment upgrade programs.
We pride ourselves on our ability to offer solutions that meet your needs.
If
my company is new, can I still lease?
Yes, pending credit approval. A
security deposit may be required.
What factors are used to determine credit worthiness?
The elements of our lease
application: length of time in business, references from bank and
trades, and D&B and credit bureau ratings.
Can
equipment be purchased at the end of the lease?
Yes. Lessee can choose to continue
to lease, purchase the equipment, or return the equipment to the Leasing
Company.
What
about sales/use tax?
Your company is responsible for
any and all sales/use taxes.
Who
services/maintains equipment?
You as the lessee services and
maintains the equipment. You receive the benefit of all "buyer"
warranties.
What
about insurance?
To protect both the Leasing Company
and Lessee, insurance is required on all leased equipment. Insurance
protection can be included with your lease for a nominal fee.
How
does Lessee account for the lease?
The options you choose upfront
may have tax and accounting implications.
What
effect does leasing have on Lessee's bank line of credit?
With a lease no money is borrowed.
Your bank line is unaffected.
How
will I be billed?
You may have the payment setup
to automatically debit your bank account or we will invoice you.
How
much do I have to pay upfront?
A typical lease would require
first and last payments in advance. Other options are available upon request.
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