Resources

Frequently Asked Questions

We've Got Answers

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?
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  2. Why do you need my personal guarantee?
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Credit

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

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

Do you have a question about leasing that is not answered here? Contact us! You might even find your question appearing on this page in the future.