FAQ
Leasing can save
you money!
Leasing lowers your total overall cost of ownership by paying pay for
the equipment only over the lease term and NOT over the entire life of
the equipment. As lease terms are typically bundled with maintenance
contracts, you can avoid acquiring ownership of equipment that regular
repair or upgrading. Leasing offers fixed, low monthly payments allowing
you to preserve your cash flow / credit facilities. Leases may
include No security deposit or payments for 30 days.
How do I qualify for a lease?
In most cases, we only require the following information to process your
lease application:
Should your company meet our credit
criteria requirements we can proceed with your application. * In some
cases,
when the preliminary application may not
provide us with sufficient information to proceed forward we would then
 look
at any of the following additional information to add strength to get
the transaction complete:
- Additional Cash Deposit
- 2 Years Financials
- Collateral
- Real Estate
- Additional Guarantors
When am I required to make Financial Statements available?
Financial Statements are only required under a few circumstances. When
the amount that you are leasing is above $75K or if there is
insufficient information to support your credit application or to
qualify for a Master lease.
How much will my lease payment be?
The term, the purchase option that you choose and the total cost of the
equipment leased will impact the value of your lease payments.
When do my lease payments commence?
Your payments commence 30 days after receipt of the equipment. Ask us
about our deferred payment and no down payment plans. These plans assist
you earn revenue prior to you even making any lease payments!
Am I required to insure the equipment leased?
Yes, insurance is a requirement on all leased equipment. Arrange for
insurance in the same manner that you would if you owned the equipment.
What is the applicable interest rate on my lease?
There is no interest rate on an equipment lease. Your monthly payment is
determined by a lease factor. The lease factor is multiplied by your
equipment cost to determine your monthly payment.
Are there tax benefits associated with leasing?
In many cases, lease payments can be tax deductible. Contact you tax
advisor to see if you qualify.
What is Fair Market Value (FMV)?
FMV, as it applies to the purchase option in a lease, is the dollar
amount that your equipment can be sold for on the market at the end of
your lease. Market conditions change over time and this value can not be
predicted in advance.
FMV is usually chosen as a purchase option by businesses looking for the
lowest monthly payment possible and are fairly confident they will
return the equipment and upgrade at the end of the lease.
ASK ABOUT OUR TECHNOLOGY UPGRADE LEASE!
You may qualify to acquire
more equipment during the lease term and your monthly payment never
increases!
Can I re-locate the leased equipment ?
Yes, in many cases the leased equipment can be re-located. Since we are
the owner of the equipment, we must be notified and authorize any
re-location in advance. Also, keep in mind that certain Federal laws
restrict the movement of leased property outside of the USA.
Can I lease only part of my order?
YES, leases can be arranged for full orders, partial orders, or you may
add on equipment ordered from other non-competing companies. Even
turnkey systems may be leased to include hardware, software,
maintenance, installation and shipping charges.
Are there restrictions on what can be leased?
You can lease any product made including service contracts and
peripherals.
When can I expect to receive my equipment?
Once we receive your signed lease documents by fax or mail,
your order can be placed. Once your order is complete, it is delivered
to you under the terms discussed with your supplier.
How do I return the equipment at the end of my lease?
If you are not purchasing the equipment at the end of your lease, it is
your responsibility to return it.
Can I prematurely terminate my lease?
A lease is a non-cancelable contract. If you choose to terminate the
contract early, you are responsible for the remaining payments on your
contract as well as other fees and expenses that may be incurred by
Ability Capital Solutions. There is no economical advantage to this
course of action. If you think that you may want to terminate
 your
contract prematurely we recommend you select the shortest lease term
available.
Establish a partnering arrangement with Ability Capital
Solutions today!
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