Lease financing has never been easier! We offer competitive rates, 100% financing and can customize terms to suit your borrowing needs.
Many variables impact the decision to get a new piece of equipment. Increased work orders, obsolete equipment, seasonal fluctuations in business are just a few of the considerations. Another big factor to consider is how to structure financing to get maximum benefit from your investment with minimal bottom line impact. Our lease managers understand the woodworking industry and they will help you to understand your finance options.
Equipment leasing is not complex.
Our service commitment goes beyond taking care of your machinery. Before you place your order, our lease program manager will explain your finance options and leasing benefits in easy to understand terms. Start-to-finish, you will have a leasing professional dedicated to making the process as simple as possible.
Eighty percent of US companies obtain equipment through leasing.
A market this large requires great flexibility. Large and small clients alike experience a personalized approach to lease financing. Your options will consider plans for equipment ownership and/or replacement as well as the short- and long-term goals of the business.
Leasing can benefit your bottom line.
Financial professionals know that a cash purchase is not always best and interest rates are just one consideration. Leasing preserves your existing bank line of credit, typically requires little or no down payment, and provides for tax favorable treatment of the expense — all while building equity towards equipment ownership. Give us a call. Let us demonstrate leasing as it should be: Service, Selection, and Savings
Advantages of Leasing
Helps avoid technological obsolescence
Installation, shipping/handling, training, and maintenance may be included in your lease
Match benefits to cost
Guards against inflation with a fixed monthly payment
Helps conserve working capital
Helps preserve existing credit lines
May provide tax benefits
Flexible End of Lease options
Which Lease Is Right For You?
10% Payment Upon Termination This type of lease offers a slightly lower payment than the $1.00 buy out in exchange for a fixed purchase price.
$1.00 Purchase Option This type of lease has the highest monthly payment compared to the above option, but here you will own the equipment at the end of the lease term.
Frequently Asked Questions
What is a lease?
A lease is simply an agreement by a customer (Lessee) to make a monthly payment for a specific amount of time for the right to use property owned by another party (Lessor). The Lessee is responsible for insurance, maintenance, and all other cost of ownership.
Why should I lease?
Leasing offers many advantages over other types of financing. Leasing will not deplete financial resources like paying cash does. Leasing can offer 100% financing unlike a bank loan that will usually require a 20%+ down payment. There may also be tax benefits to leasing that will save you money. Leasing allows most businesses the opportunity to acquire revenue generating equipment and match its cash inflows and outflows, essentially letting the equipment pay for itself while still generating a positive cash flow for the business.
How is leasing different from renting?
While there are several differences between leasing and renting, the main one is that leasing gives you the added flexibility at the end of term to purchase the equipment, return it, trade it up into new equipment, or renew the lease.
What is required to qualify for a lease?
For transaction up to $30,000 usually we only require a one page application to be completed. For transactions over $30,000, a copy of the company’s financials are generally the only other information required.
How long is the approval process?
Approvals are usually accomplished by the next business day, depending on the size of the transaction and that accuracy of the information provided.
How much of an initial cash outlay is required?
Only the first and last month’s payment and a documentation & registration fee are usually all that are required to start a lease.
What equipment can be leased?
All new and pre-owned equipment, software, installation charges, delivery charges, tooling and training can be included in your lease. Peripheral equipment can also be included (i.e. dust collection systems). In addition a prepaid maintenance service contract can be included. Later, trade-up equipment can be incorporated through lease add-on features.
When do my lease payments begin?
Once you have received all of the equipment you ordered and it has been properly installed, you execute a delivery and acceptance certificate and the start date for your lease is determined by that date.
Are there tax advantages to leasing?
Leasing can provide a more rapid write-off because the lease term is often shorter than the depreciable life of the equipment, and the monthly payments are often 100% tax deductible as a pre-tax business expense. Consult your tax advisor for more detailed information.
Section 179 Tax Deduction
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.