1.1 What types of equipment can be leased?
A wide range of equipment is eligible for leasing, including but not limited to computers, business machines, furniture, telephone systems, medical equipment, and industrial equipment.1
1.2 How long can I lease equipment?
Typically lease terms range from 24 to 60 months, depending on the type of equipment covered by the lease.
1.3 What happens at the end of the lease term?
Depending on the type of lease you choose, there are several options available at the end of your initial lease term. Generally, these options may include one or more of the following:
|$1.00 Buy Out
||For those who are fairly certain they wish to purchase the equipment at the end of the agreement, this is the recommended plan. Once the term expires, the customer simply purchases the equipment for $1.00.
|Fair Market Value (FMV)
||This plan offers the most options both during and at the end of the term for those concerned about obsolescence or those who prefer a small security deposit and a relatively low monthly payment. At the end of the term, the customer has 3 options: extend the term of the agreement, return the equipment, or buy the equipment at its fair market value.
|10% Purchase Option
||This plan offers the customer a fixed purchase option at the end of the term. Upon final payment, the customer can continue to finance the equipment, return the equipment, or buy it at 10% of the original equipment cost.
1.4 Can I combine several equipment purchases from different suppliers in one lease?
Yes, you can bundle multiple equipment purchases into one equipment lease, which offers you the convenience of one consolidated monthly payment.