Question 1

What's the difference between a lease and a loan?

Accepted Answer

A loan is the borrowing of money/cash, whereas a lease involves making payments to use an asset for a set period of time. Since the value in technology comes from it's use and not from ownership, a loan doesn't offer the same flexibility and continuity of a lease.

Question 2

How do I know if leasing makes sense for my business?

Accepted Answer

Leasing is a smarter way to pay for business essential equipment with a finite life, like technology. Leasing frees up valuable cash that can be allocated towards areas that grow your business rather than depreciating assets. If you are wanting to keep your technology up to date with a flexible refresh schedule and avoid the hassle that comes with ownership (maintenance, disposal, etc.), leasing is right for your business.

Question 3

What if there is an issue with the equipment or we want to add/delete items off of the lease?

Accepted Answer

Not a problem, that is why we created our flexIT program. We understand that things don't always go according to plan and are happy to work with you to get the equipment that is right for your business. Adding/deleting equipment to the lease during the term is simple once you have a master lease with us.

Question 4

What is the typical term of a technology lease?

Accepted Answer

We like to line up the term to match the useful life of the equipment. Typically this is between 2-5 years depending on the technology and rate of change in innovation.

Question 5

What happens to the equipment after the lease term ends?

Accepted Answer

You have a few options at the end of the lease term: either extend the lease term if the equipment is still meeting your needs, return it and receive new equipment, or purchase it. We can help manage equipment disposition utilizing our network of remarketing partners and offer credit toward a new lease with our tradeIT® program.

FAQ

FREQUENTLY ASKED QUESTIONS