FAQs
WHY IS LEASING BETTER THAN A BANK LOAN
1.MINIMUM DOCUMENTATION: Bank loans often required
3yrs. corporate and personal tax returns which show a corporate
profit. Our Lease only requires one short form. It is a fact
that up to 90% of small businesses don't qualify for bank
loans because they fail to show profits.
2.NO EXTRA COLLATERAL:The only collateral pledged is
the leased equipment. A major asset such as a personal residence,
building, car, accounts receivable, etc. is not pledged as
collateral.
3.FIXED PMT: Leasing payments are fixed and not subject
to changes in the Prime Rate as are bank loans.
4.LOW DOWN PMT: Leasing does not require a large down
payment. Banks often require 20%-40% down.
5.PRESERVE CREDIT LINES: Leasing allows for the preservation
of bank lines of credit which can be left open for short term
borrowing.
6.EASIER TO QUALIFY: Banks often don't like to lend
money for "non-essential" equipement such as hi-fi gear. We
think it's pretty essential ourselves. Try borrowing from
a bank for 'USED' gear and only using that as collateral -
good luck!
HOW MUCH CAN I EXPECT TO PAY?
How much you pay is directly tied to your credit score - low
credit scores can be funded but at a premium cost.
A typical BUSINESS LEASE for $10K. over 36 months, with A1
credit would be $335/mo.*
A typical CONSUMER LEASE for $10K. over 36 months, with a
725+ credit score would be $330/mo.*
*Quotes are estimates only, subject to change and do NOT include
taxes, doc. fees and insurance
WHAT ARE THE STEPS?
1.Complete our short application and submit it. You should
be able to do it in under 5 minutes.
2.Upon approval, we will fax the lease documents to you which
you sign and fax back
3.Upon receipt of your signed lease documents, we'll issue
our purchase order right away.
ARE THERE ANY FEES OR COSTS TO APPLY?
There are no application fees and no traditional down payment
is required, a nominal documentation fee may apply. Advance
monthly payments may be required depending upon the amount
of the lease.
CAN I WRITE OFF MY BUSINESS LEASE EXPENSES ?
Typically YES ... but this is a question best answered by
your accountant. We have found usually our customers have
been able to write off the lease payments through their business.
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