Lessor Questions

The ELA recommends considering the following questions before you sign on the dotted line:

Does the leasing representative understand your business and how this transaction helps you do business?

What is the total lease payment and are there any other costs that you could incur before the lease ends?

What happens if you want to change this lease or end the lease early?

How are you responsible if the equipment is damaged or destroyed?

What are your obligations for the equipment (such as insurance, taxes and maintenance) during the lease?

Can you upgrade the equipment or add equipment under this lease?

What are your options at the end of the lease?

What are the procedures you must follow if you choose to return the equipment?

Are there any extra costs at the end of the lease?

Clearly, whether you choose to lease or buy, there's a lot to consider. But by using the resources available to you, you can rest assured you'll be able to make the right decision for you - and your bank account.

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