Frequently Asked Questions About Leasing

• What is leasing?
• What can I lease?
• What are the benefits of leasing?
• What types of leases are available?
• How do I apply for a lease?
• Do I require a down payment?
• How do I pay for my lease?
• What are my options during my lease?
• What happens at the end of the lease?
• What are the different lease terms available?

 

What is leasing? Leasing is simply an alternative type of financing. The customer has full access and use of the equipment, but not actual ownership. Often, if required, the customer has an option to purchase at the end of the lease term for either a pre-determined amount, or fair market value. ˆtop

 

What can I lease? Virtually any type of equipment can be leased, including computers, photocopiers, fax machines, office equipment, etc. ˆtop

 

What are the benefits of leasing? Some of the many benefits are as follows: Retain your capital, no large outlay of capital to obtain equipment. Secure the equipment that you require now; use it to earn revenue, rather than putting acquisitions off until you can fit a purchase into  your budget. Use Lease Rental Payment for tax write-off purposes. Lease payments and terms can be tailored to meet the tightest budgets. Leasing keeps your bank lines open for operating expenses, rather than investment in depreciating assets. ˆtop

 

What types of leases are available? There are two basic types of leases available, and they can benefit both corporate customers and individuals alike. Fair Market Value: Lessee makes lease payments for the term of the lease. At expiry, Lessee may: Purchase the equipment for Fair Market Value; renew lease; upgrade the equipment, or return the equipment. Lease to Own: Lessee makes lease payments for the term of the lease. At expiry of the lease, title of equipment passes to Lessee for $10.00. ˆtop

 

How do I apply for a lease? It is easy! Simply complete an appropriate credit application (either corporate or consumer) with your Sales Representative, and he or she will forward it to Lease Plus Services. After the required credit inquiries have been completed, an approval will be issued. The lease documents will be prepared and sent for execution by you when the equipment is delivered. ˆtop

 

Do I require a down payment? No. Generally all that is required to initiate a lease is either the first payment, last payment or both in advance. Under special circumstances, a larger deposit may be required. If a client wishes to reduce his monthly rental payment, they have the option of making a down payment as well. ˆtop

 

How do I pay for my lease? Your monthly lease payments will be taken via Pre-Authorized Payment Plan (PAPP) from your choice of financial institutions. ˆtop

 

What are my options during my lease? During your lease term, you have the option of purchasing the equipment early and buying out your lease agreement or trading your equipment up. A Lease is a fixed term Agreement and the equipment cannot be returned or the lease cancelled prior to expiry. ˆtop

 

What happens at the end of the lease? This depends on the type of Lease Agreement; the equipment can be returned, released or purchased with various purchase options available. ˆtop

 

What are the different lease terms available? Lease terms are anywhere from 12 – 66 months, depending on the type of lease payment your require. ˆtop ©Copyright 2003 - 2010. Great Canadian BBQ Store.com, all rights reserved. All content on this web site is the sole property of ©The West Coast Store DBA Great Canadian BBQ Store Shipping | Store Policies | Customer Care