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Welcome > Lease FAQ's
Frequently Asked Questions
Q: Why lease? Why not just borrow the money?
A: By leasing you preserve your working capital so that your hard earned cash can be used on your day-to-day business needs. Equipment leasing also has tax advantages whereas the payments are deducted for income tax purposes.
Q: Who can lease?
A: Any company, association, non-profit organization or individual who is using the equipment for a business or commercial use.
Q: Can I cancel the lease?
A: The commercial equipment lease is non-cancelable. However, you may arrange pre-payment of the lease or upgrade to a more sophisticated piece of equipment.
Q: Can I add equipment to the lease?
A: Yes, you can add equipment to the lease at any time.
Q: What about sales tax?
A: Sales tax is added to your monthly lease payment each month.
Q: What is the typical process for lease equipment?
A: You fill out a simple one-page credit application. (See on-line application). In certain instances other financial information may be required, such as tax returns or financial statements. The supplied credit information is reviewed and upon approval the lease documents are prepared and sent to you for signing. A purchase order is then issued to your equipment vendor. Upon delivery of the equipment and acceptance by you, the equipment is paid for and the lease commences.
Q: What about insurance?
A: For your protection, it is required that the leased equipment be insured. You simply instruct your own insurance agent to send a certificate of insurance to us at no additional cost to you.
Frequently Asked Questions
Q. Who can lease? Any company, association, non-profit organization or individual who is using the equipment for a business or commercial use.
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(847) 299 - 0215, M-F, 8am-8pm EST
Or by sending your question to:
info@tmnfs.com
