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Frequently Asked Questions

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Here are some frequently asked questions (and their answers). Clicking on a question will open the answer in a NEW browser window.


Application Process

  1. How long does it take to be approved?
  2. Why do you need my personal guarantee?

Credit

  1. What is a credit score?
  2. What is a good FICO score to get?
  3. Are there any tips for raising my FICO Score?
  4. How can I find out my FICO score?
  5. How does credit scoring help me?
  6. What factors are used to determine credit worthiness?
  7. What if I'm turned down for credit?

Leasing

  1. What happens at the end of the lease term?
  2. What is a Lease?
  3. May I end my lease early?
  4. Are lease payments a tax write off?
  5. Are lease rates variable?
  6. Can equipment be added to a lease at a later date?
  7. Can I finance 100% of the purchase price? My bank requires a 10-20% deposit.
  8. Can service and installation costs be added to a lease?
  9. Do I need to have insurance on leased equipment?
  10. Do I save on taxes?
  11. Does the equipment have to be new to be leased?
  12. How do I apply for a lease?
  13. How does a lease qualify as an Operating Lease?
  14. How does inflation affect leasing?
  15. How is my monthly payment calculated?
  16. How much of an initial investment is required?
  17. If I have questions during the term of my lease, whom do I contact?
  18. What is the difference between a lease and a loan?
  19. What is the interest rate in a lease?
  20. What is the minimum equipment cost that can be leased?
  21. What kinds of equipment can be leased?
  22. When does the lease start?
  23. Who can lease equipment?
  24. Who is responsible for filing personal property tax returns and the annual payment of the tax?
  25. Who is responsible for the insurance and maintenance of the new equipment?
  26. Who owns leased equipment?
  27. Who services and maintains the equipment?
  28. Why should I lease versus pay cash for the equipment?
  29. Will you finance the installation of my new equipment?

Municipal Leases

  1. Who is eligible for a Municipal Lease?
  2. What are the benefits of Municipal Leasing?
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