Your LessorMost leasing companies will tailor lease pricing, payment schedule, end-of-lease options and other components suit your needs. For example, Granite Leasing (www.graniteleasing.com) offers the Capital Lease (also known as $1 lease) that begins with first or first and last monthly payments. After the lease runs through the desired term, at the end of the term you would purchase the equipment for $1 (you'd have to depreciate this the same way you would a bank loan). Granite's Operating Lease starts with first or first and last monthly payments, but after it runs through the desired term, at the end of the term you have the option to purchase the equipment for a residual (normally 10, 15, or 20 percent of the original price), or you can turn the equipment back in. In this case, you would be able to write the payments off as a rental payment. At Accord Financial Group (www.accordlease.com), they offer 100 percent financing and the ability to include "soft costs" such as installation and training in your monthly payment. According to their website, they require a one-page application for equipment acquisitions up to $75,000 (for organizations in business less than two years, additional information may be required). Accord offers nationwide lease coverage (including Canada); flexible payment options including deferred, seasonal and skip payment plans; lease terms from one to seven years for both new and used equipment; and various end-of-lease options. Advantage Leasing Corporation (www.advantageleasing.com) offers a free lease line commitment, from $15,000 to $50,000, to lease most any type of equipment within six months of application. They also have a calculator that helps you figure out what your payments might be. Simply enter the cost of the equipment you want to lease, and the calculator will give you monthly payments for terms of 24, 36, 48 and 60 months (your actual payment may be lower or higher depending on your approval rating and funding options). If you're feeling overwhelmed with options, the ELA has a directory at www.chooseleasing.org that will help you choose the lessor that's right for you. Chooseleasing.org is full of information on leasing and strategic financing methods, as well as a comprehensive directory of leasing companies. Just be sure to choose the lessor you feel the most comfortable with, as you may be working with them for many years to come. Find a Local Concrete Products Supplier Return to Leasing Equipment Buyer's Guide Find a Concrete Contractor 23 Services in 200 Metros -- U.S. and Canada © 2008 ConcreteNetwork.com None of this site may be reproduced without written permission |
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