Depending on your requirements, the lease may start at the following intervals: Upon signing of the lease agreement, if an execution agreement is signed and the supplier requires pre-payment. When the equipment is delivered and installed, depending on the underwriter. On the first of the month following installation. A per diem rental payment may be charged up until the first of the month.

There are several options for the lessee at the end of the lease term: Continuing to lease Purchasing the equipment Returning the equipment to the Leasing Company Should you choose to purchase the equipment, the following options are available depending on what was agreed to on signing: Fair Market Value (FMV) Stretch lease allows for early purchase option set at a certain percentage $10 buy out price, where you pay just $10 to purchase the equipment End of term options are decided by you, the customer, and structured into the lease prior to execution. Once the lease has commenced, the purchase options cannot be changed.

When your shipment arrives, you will be contacted to ensure that you receive exactly what you have ordered and in proper condition. After your initial receipt of the equipment, your vendor will work with you to troubleshoot problems or replace equipment as defined in your warranty. As the lessee, you will receive the benefits of all “buyer” warranties, as well as the responsibility for maintenance. It is not the responsibility of the leasing company.

The Leasing Company, as the lessor, is the owner of leased equipment until you choose to purchase the equipment at end of lease.

Your vendor or supplier will service and maintain the leased equipment. It is not the responsibility of leasing company

When you sign a lease agreement, you are committing to pay a certain amount of payments (12, 24, 36, 48 or 60 payments). This is the difference between a loan and a lease. With a loan, the borrower can pay off the principal balance at any time with no interest. With a lease, you are required to pay all payments (all principle and interest) as agreed through the term of the lease. There is no penalty for early pay off, however you would be exercising your purchase option in addition to paying off the net lease balance. If this occurs early on in the lease agreement, the payoff could be higher than the original equipment cost.

Equipment leasing companies have their own customized plans for different industries, so it is difficult to list all types of equipment that will qualify for a lease. The most common are: Construction equipment Transportation Equipment Manufacturing Equipment Medical and Dental Equipment Industrial Equipment And Many More….

No, an equipment lease is a contract for a specified number of payments. The only way to terminate the agreement prematurely is to pay-off the lease.

Sometimes it is. It depends on the leasing company. Leasing companies reserve the right to approve the new lessee from a credit standpoint. Once the new lessee is approved, leasing companies will provide an assumption form for all parties to sign.

​​Companies that have to make major investments in equipment and do not want to tie up large sums of money, companies that need to change their equipment frequently, and companies with good cash flow that can easily afford the monthly payments but do not have the money to lay out for the purchase of equipment.