How Are Monthly Payments Determined And Are There Any Penalties For Early Pay-Off?
The monthly payment is based on the amount financed, the term of the lease (usually 1-5 years), the lessee’s credit history, the type of equipment being leased, and the end-of-lease purchase option (usually 10% of the amount financed or $1.00). The stronger and more established the business, the lower the payment should be. Lease rates and terms are usually fixed throughout the entire lease term. However, structured lease payment options are available to suit your specific requirements. or leases are non-cancelable agreements. We do, however, provide the lessee the opportunity to Upgrade, Trade-In, or “Buy-Out” the lease prior to the end-of-term without any penalties being assessed.
