Q: What is a Fair Market Value (FMV) Equipment Lease?
A: An agreement between Sweet Leaf (Lessor) and Customer (Lessee) that allows the Lessee to rent equipment for a specific period of time, and then purchase the equipment for Fair Market Value (FMV) at the end of the lease period. Fair Market Value (FMV) is based on 3rd party appraisal, typically the equipment manufacturer.
Q: Can I purchase the equipment at the end of the Lease?
A: Yes, we can include a purchase option at lease inception, or at the time of lease expiration for Fair Market Value (with advanced written notice, defined in the lease).
Q: What type of equipment can my company Lease?
A: Almost all types of new and used equipment can be leased. The leasing can also include installation costs, proportionate to the equipment cost. Link – Types of Equipment Tab
Q: Do I have to provide a Personal Guarantee?
A: Yes, a Personal Guarantee is required on all leases.
Q: What are the advantages of Leasing?
A. Leasing can save you the time and hassle involved in finding someone who will extend you credit for purchasing equipment.
– You can keep pace with emerging technology.
– Short-term leases give you the opportunity to evaluate whether the equipment fits your needs.
– Maintenance may be included in the lease, saving you additional costs.
– If you use the leased asset in your business, you may enjoy a potential tax advantage because your lease or rental payments are fully deductible.