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Who can lease?
Any company, organization or association. At present we do not lease equipment to an individual for personal use.
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How do I apply?
Quick, easy and secure, apply on-line. Or print the on-line application, fill it out and fax back to 503.620.7677. Or, contact Leasing Consultant Jefferson Peters @ 800-247-3722.
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Exactly what has to happen before I receive the equipment?
We review the credit information supplied on your application. A leasing consultant reviews the process and documents with you. Documents are prepared. You read carefully, sign, date and return documents. The equipment is shipped.
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How much does leasing cost?
Leasing is not expensive. Use our Lease 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, consider a lease vs. loan vs. buy comparison.
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How is the monthly payment calculated?
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.
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When does the lease start?
When you have verbally acknowledged that the equipment you ordered has been received and is in good working order.
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What are my options at end of lease?
Lessee has an option of continuing to lease, purchasing the equipment, or returning it 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. Another option is the $1.00 Buy Out, at end of lease, you pay just $1.00 to purchase the equipment. Which option is best for you? Call Leasing Consultant Jefferson Peters @ 800-247-3722. See our end-of-lease-options page.
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What if the equipment I receive has problems?
You will be contacted when your shipment arrives to ensure you receive exactly what you ordered. After your initial receipt of the equipment, your vendor will troubleshoot problems or replace equipment as defined in your warranty. Lessee receives benefits of all "buyer" warranties and is responsible for maintenance.
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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.
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May I end my lease early?
If you choose to end the lease early, you may. 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.
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If my company is new, can I still lease?
Yes, pending credit approval. A security deposit may be required. Contact your Leasing Consultant Jefferson Peters @ 800-247-3722.
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What factors are used to determine credit worthiness?
The elements of our lease application: length of time in business, references from bank and trades, and D&B and credit bureau ratings.
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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.
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What about sales/use tax?
Your company is responsible for any and all sales/use taxes.
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Who services/maintains equipment?
You as the lessee services and maintains the equipment. You receive the benefit of all "buyer" warranties.
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What about insurance?
To protect both the Leasing Company and Lessee, insurance is required on all leased equipment. Insurance protection can be included with your lease for a nominal fee.
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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 option(s) for you.
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What effect does leasing have on Lessee's bank line of credit?
With a lease no money is borrowed. Your bank line is unaffected.
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If I have questions during the term of my lease or loan, whom do I contact?
A leasing consultant is standing by during regular business hours (800-247-3722) to answer any questions, or e-mail us with your inquiry.
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How will I be billed?
You may have the payment setup to automatically debit your bank account or we will invoice you.
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How much do I have to pay upfront?
A typical lease would require first and last payments in advance. Other options are available upon request. Call Leasing Consultant Jefferson Peters @ 800-247-3722 . |
