A lease is an agreement by a client (lessee) to pay a monthly payment for a set amount of time for the right to use the equipment owned by the lease company (lessor). The client is responsible for insurance, maintenance and all other cost of ownership.

What is the difference between a lease and a loan?
A lease is an agreement to make payments for a specific amount of time for the right to use the equipment owned by the lease company.

Who owns the leased equipment?
The lessor, is the owner of leased equipment until you choose to purchase the equipment at end of lease term.

What is considered a "start-up"?
Any business that is less than two years old.

Are there any down payments required at the beginning of a lease?
The first and last payment is usually required, plus any documentation fee's.

What are the tax advantages of leasing?
In some instances you can write off the monthly lease payment as an operating expense, depending on the structure of the lease. In other instances, you can take the equipment as a depreciation expense. Because everyone business handles their tax preparation differently, we encourage you to speak with your accountant regarding the specific benefits for your business or organization.

When does the lease start?
When you have verbally accepted that the equipment you ordered has been received and is in good working order along with the signing of the Delivery and Acceptance document.

What factors are used to determine credit worthiness of the business?
The length of time in business, references from bank and trades, Dunn & Bradstreet and credit bureau ratings.

How is a lease structured?
A lease is flexible and can be tailored to your business needs. Lease terms range from one to seven years. Payment schedules can be fixed or timed to fit your needs. The most common is equal monthly payments.

Can equipment be purchased at the end of the lease?
Yes. You have the option to purchase the equipment, continue the lease on a month to month basis or return the equipment to the leasing company as specified in the terms of the lease agreement.

Who services and maintains the equipment?
Systems Supply will service and maintain your equipment by the terms of the lease agreement. A lease agreemnt can include the service, maintenance and repair services typically assoicated with the ownership of the equipment.

Can I add installation, service and extended warranty costs to the lease?
Yes. A lease can include installation, service and extended warranty for the leased equipment.