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Leasing FAQ

PRECISELY WHAT IS EQUIPMENT LEASING? 

An equipment lease is a contract that transfers the right to use the equipment to the Lessee (Lease Customer) in return for monthly payments to the Lessor (Leasing Company). Ownership is retained by the Lessor, unless the Lessee exercises a purchase option.

 
HOW DOES LEASING WORK?  

The end user selects the equipment that suits their business needs.  We obtain all the necessary credit information, prepare a simple lease contract, and arrange for the signatures.  S-Mark Equipment Leasing purchases the equipment from the supplier(s) that the end user wants to use. Upon verification of equipment delivery and acceptance, we issue a check to the vendor(s) for the full invoice amount.
 

WHAT TYPES OF COMPANIES LEASE?  

Lessees vary widely from small, one-person operations to Fortune 100 corporations, and the kinds of equipment being leased are just as diverse. Transactions range from a few thousand dollars worth of equipment (such as fax machines) to multi-million dollar cogeneration facilities, telecommunications systems, medical equipment (including CAT scanners and MRI imaging), office systems, computers, commercial airliners, and transportation fleets. 

 
HOW DOES THIS HELP ME?  WHY USE LEASING AT ALL?  

Sometimes you know that you need new equipment to grow your business, but “sticker shock” delays or prevents the purchase of equipment in spite of the benefits.  Leasing allows you to weigh a monthly cost against the benefits of the equipment you need.  You can have the equipment now, and pay for it as you use it.  In addition, leasing may provide some significant tax advantages to your company.

 
HOW MUCH WILL I HAVE TO KNOW?  

You already know it!!   ust call (407) 841-0022. Tell us what equipment you are looking at, the vendor’s name and phone number, and the dollar amount of the equipment.  We will provide you with a simple lease application and take care of the rest.

 
HOW LONG OF A TERM CAN I LEASE FOR? 

Terms range from 24 months to 60 months.


WHAT ARE YOUR CREDIT CRITERIA? 

The business must maintain a satisfactory payment history with its suppliers. We look at the businesses average bank balance as additional criteria.  We also review the personal credit of the owners of the business and look for relatively clean credit history.


DOES ALL THE EQUIPMENT HAVE TO COME FROM THE SAME VENDOR? 

No, you may get equipment from multiple vendors.  In fact, a larger total lease value lowers the rate factors, and you make a single payment every month.

  
WHO HAS RIGHTS TO WARRANTIES AND LICENSING FOR THE EQUIPMENT? 

The warranties and licensing offered by the manufacturer and/or vendor are passed on to you.

WHAT IS THE INTEREST RATE? 

Typically, the interest rates are comparable to bank loans and depend on term, equipment cost, equipment, credit of lessee. In most cases the entire payment can be treated as a rental expense, which is a tax write-off.

CAN I LEASE USED EQUIPMENT, OR EQUIPMENT COMING FROM SOMEWHERE OTHER THAN A VENDOR? 

Yes, you can lease used equipment, and it can come from an end user, an auction or a vendor.  We look for an extremely strong credit history when equipment is used.

CAN LEASE EQUIPMENT THAT I ALREADY OWN OR RELEASE EQUIPMENT THAT I CURRENTLY HAVE WITH ANOTHER LEASING COMPANY? 

Yes, on a case-by-case basis, the leasing company can write you a check for equipment that you already own and then just make payments to the leasing company.  Your business and personal credit must be exceptional.

IS THE LEASE TRANSFERABLE?

Yes, as long as the new lessee's credit qualifies.

WHEN DO MY PAYMENTS START?

In most cases the first and last payment are due when signing the lease, your next payment will be approximately 30 days after the equipment has been delivered.

 

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