I leased a car and it was the worst experience. How is equipment leasing any different?
With car leasing from a dealership for personal use, you are required to pay for excessive mileage, the pre-established residual amount of the vehicle at the end of term or when you purchase the vehicle, along with up front costs such as security deposits, etc. This could be costly and theres usually NO negotiating with the dealer. The purchase price is predetermined in the contract based on what they think your usage will be. With and ELS TRAC lease (for vehicles & trailers) all that is required up front is first and last months rent and a small documentation fee. There are no mileage restrictions, YOU can choose your residual and can either turn the vehicle back in at the end or sell the vehicle. If the actual residual value at the end of the term is higher than what you chose at the beginning of the lease, youll pay the difference. If its lower, you will receive a rebate of the difference. In an Operating lease, the purchase option is determined at the end of the term by obtaining a
