What are typical payment terms?
Terms range from 12-60 months with most clients selecting 36-60 months.
Will you own the equipment?
Yes. 100% of lease/loan products allow you to own the playcenter and related products. However, about 75% of customers choose a more traditional lease with a purchase option at the end of the term. This version affords the lowest monthly payment.
Are there tax advantages?
Yes. In fact, one of the most appealing reasons businesses lease equipment is because the IRS does not classify leases as purchases, but rather as tax-deductible overhead expense. Therefoe, you can deduct the lease payments from your business income
You could also take advantage of section 179, a special tax deduction allowing you to recover all or part of the cost of your equipment in the year the equipment is put into service.
Leasing is a way to rapidly write off the equipment versus taking depreciation deductions over the life of the asset.
Is a down payment required?
Generally speaking, there is little downpayment. While the first and last month's payments are commonly required, leasing provides 100% financing to complete your purchase.
Is leasing flexible?
Absolutely. Lessors offer flexible terms, allowing you to customize your lease to program which fits your needs and requirements including cash flow, budget, transaction structure, cyclical fluctuations etc.