Some questions customers ask
A lease is an arrangement for you to, basically, rent equipment for a specific amount of time. At the end of that time, you can return the equipment and the payments are over. With some leases, you have the option of purchasing the equipment for a greatly reduced price.
Any company, association, organization or municipality (city, county, state and federal government) can arrange to lease with Access Financial.
Unlike a loan on direct purchases (which can require a large down-payment), a lease typically requires the first and last month payments, which are applied to the lease payment schedule. There is also a nominal documentation fee required to cover costs to the lease documents, as well as the expense of filing the UCC-1 financing statements for your specific state.
Depending on the type of lease chosen, the answer is yes! Up to 100% of the lease payments may be deductible as a business expense. It is recommended you contact your accountant or tax advisor for specific answers relating to your business.
Because equipment is basically being rented, and there is no “loan,” interest rates do not apply! You pay a flat-monthly rate based on the equipment cost and lease terms chosen.
Yes, they are.
No! Because a lease is basically a rental, there is no loan, and no down-payment. There are other nominal costs involved, including the first and last month payment, documentation fees, and a cost for filing financial statements for your state.
Yes, the lease agreement specifies that insurance is required to cover fire, theft, loss and general liability.
There is no cost to apply for equipment lease financing.
Typically it is based on the company’s credit history, time in business and the type of equipment to be leased.
Contact us with your specific need and question, and we’ll be glad to give you the information you need to make a decision.