FREQUENTLY ASKED QUESTIONS
Q:
Why lease? Why not just borrow money?
A: If you borrow money to buy and own equipment, you
are using up available credit. These resources, if
used for other purposes, have the ability to earn
a much higher return than the cost of the lease payments.
Leasing offers a new source of credit as well as adding
the benefit of being able to "expense" the
payments in most instances.
Q: Who can lease?
A: Any company, association, non-profit organization,
or individual that is using the equipment for a business
or commercial use.
Q: Can I cancel my lease?
A: The lease cannot be cancelled. However, you may
arrange for prepayment of the lease or upgrade to
a more sophisticated piece of equipment.
Q: What are the up-front costs for a lease?
A: 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.
Q: Can I add equipment to the lease?
A: 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. Please contact
us for more detailed information.
Q: What about Sales Tax?
A: Sales tax is added to your monthly lease payment
each month and charged separately where applicable.
Q: What about insurance?
A: 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.
Q: What is the typical process for leasing
equipment?
A: 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.
