How are payments figured if there is not an interest rate?
Were glad you asked. The amounts charged on an equipment lease are calculated using monthly rental rates, rather than by using a compound interest rate method that is normally associated with bank loans. A lease is not a simple interest loan, and therefore does not have an interest rate as we normally think it would. Rental rates are based on the term of the lease, the lessees credit history (business and or personal), and the type of equipment being leased. The stronger and more established your business, the lower your payment should be. LIA Techs rates are very competitive and among the lowest available. *Obtain a free quote at no obligation and youll be surprised at how affordable leasing can be.
