What is Leasing?
Leasing allow you to buy your products and services as usual and then pay a leasing company a fixed monthly lease fee to rent your purchases. You can have the option to buy the equipment at the end of the lease or give it back to the leasing company. This can be an advantage when you buy equipment that you might want to replace every two or three years. Lease payments are typically tax deductable as an expense (see the lease page and your tax advisor). Multiple packages are available and can be discussed with our leasing advisors please address general questions to firstname.lastname@example.org or call 866-661-6685.
Leasing eliminates your need for a large up front payment, frees up cash and does not impact your company's line of credit or show up on D&B statements.
What Can be Leased?
All products (both Hardware and Software), Maintenance, warranties, service, shipping and other softgoods are leasable.
Who Can Lease?
Any company, organization or association. At present, we do not lease equipment to individuals for personal use.
What is the Leasing Process?
1) Order as you usually do
2) If your order total (less tax) is greater than $1,000, you can select Lease On the Payment Page.
3) After you checkout you will see a one page online application form. Fill it out, select your lease plan and time period and Push Send. If you have questions, you can discuss your alternatives with the representative.
4) A leasing representitive will send you the contract to sign. If there are any outstanding questions, the leasing representative will contact you.
5) Once you have received your order and acknowledged it to the leasing company, your lease has started.
How long will it take to get approved?
Usually 2 hours if your company has visible financial information like a a Dun and Bradstreet account and has been in business for at least two years. The leasing representative will contact you if necessary.
How much does leasing cost?
Leasing is not expensive. Use our quote calculator to determine your monthly lease payment. 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, ask about a lease vs. loan vs. buy comparison.
How is the monthly payment calculated?
Your 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. Try our leasing Calculator to get an estimate of what your monthly lease might be.
When does the lease start?
When you have verbally acknowledged that the equipment you ordered has been received and is in good working order.
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?
You may choose to end the lease early. 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 or personal guaranty may be required.
What factors are used to determine credit worthiness?
The elements of our leasing 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. Should you choose to purchase the equipment, the purchase price is determined by the Fair Market Value (FMV) of the used equipment.
What about sales/use tax?
Your company or organization is responsible for any and all sales/use taxes which are typically required on all leases by state laws.
Who services/maintains equipment?
You the lessee. Lessee receives the benefit of all "buyer" warranties.
What about insurance?
To protect both the Leasing Company and Lessee, insurance is required on all leased equipment by the leesee. Insurance protection can be included with your lease for a nominal fee if your insurance is insufficient.
How does Lessee account for the lease?
The options you choose upfront may have tax and accounting implications. Talk to our leasing experts and your accountant to determine the best options for you. See the Main leasing page for the benefits of leasing.
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 set-up to automatically debit your bank account or you will be invoiced.
How much do I have to pay upfront?
A typical lease requires one to two payments in advance plus a small documentation fee. Other options are also available upon request.