Below you will find the most commonly asked questions with our answers. If you would like to contact us regarding a question that is not listed here, please feel free to call us at 800-346-9349, or you can email our sales department.

FREQUENTLY ASKED QUESTIONS
Question: What is third party leasing arrangement?
Answer: It is an arrangement whereby a customer (lessee) wishes to utilize equipment that is being supplied by an equipment manufacturer or distributor (vendor). The lessee then enters into an agreement with a leasing company (lessor) that instructs the lessor to purchase the equipment from the vendor. In return for such purchase, the lessee agrees to pay the vendor a certain amount of money, normally over a specified term.
Question: What equipment can I lease?
Answer: Just about any commercial equipment (new, refurbished, or used) for use in business, government or non-profit institutions.
Question: What about "software" and other "soft" costs in general like training, installation etc.?
Answer: We can provide up to 100% financing for "software only" leases. Our standard lease include allowances for costs like training, installation, and shipping.
Question: Who is responsible for the maintenance, insurance, and taxes?
Answer: In a net lease agreement the lessee (user of equipment) is responsible for the maintenance, insurance and taxes (property and sales) for the equipment.
Question: Is a down payment required?
Answer: Leasing is generally considered 100% financing, with as little as one advance payment required.
Question: How are lease payments structured?
Answer: There's considerable flexibility in payments arrangements. While most leases provide for regular monthly payments, those payments may be made in advance,arrears, or at irregular intervals. Terms range from 24 to 84 months and can be customized to suit a company's specific needs.
Question: What is the interest rate?
Answer: Lease rates are different from interest rates. Since you are leasing and not taking out a bank loan to finance your purchase, there is not "interest rate" as we usually think of one. With leasing you are paying to rent the equipment, with the monthly payment amount based on the type of lease plan you choose, the terms of the lease, cost of equipment, business credit history, and personal credit history.
Question: Can I cancel the lease?
Answer: No. Our leases are non-cancelable.
Question: Can equipment be purchased at the end of the lease?
Answer: Yes. You have the option of purchasing the equipment. Every lease plan will have a different purchase option. Example: $1, a percentage of the equipment cost, a fixed dollar amount, or fair market value.
Question: If there is no interest rate, then how is my monthly payment calculated?
Answer: A monthly lease payment is determined by a Lease Rate Factor: a periodic rental payment to a lessor for the use of assets. The Lease Rate Factor multiplied by the equipment cost determines the monthly lease payment.
Question: What factors are used to determine credit worthiness?
Answer: The major factors are length of time in business, references from bank and trades, Dun & Bradstreet, and credit bureau ratings. Depending on the size of the request, other financial information such as tax returns and financial statements may be required.
Question: What is the typical process for leasing equipment?
Answer: You fill out a simple, one-page credit application, In certain instances, other information my 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 the equipment vendor. Upon delivery of the equipment and acceptance by you, the equipment is paid for and the lease commences.

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