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Leasing is similar to a rental contract, where you only use the equipment for the duration of the lease. Financing involves taking out a loan — in this case, secured by the equipment — and ...
Limited to financing equipment. Equipment financing is limited in use. You can only use it to purchase, lease or repair equipment and only equipment that the lender agrees is adequate to serve as ...
An equipment loan is financing you take out to buy a specific piece of business equipment. And in this case, equipment can be pretty broad. Companies take out equipment loans to finance the ...
Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Loan agreements offered by regulated banks are different from those that are offered by finance companies in ...
Hire purchase. A hire purchase (HP), [1] also known as an installment plan, is an arrangement whereby a customer agrees to a contract to acquire an asset by paying an initial installment (e.g., 40% of the total) and repaying the balance of the price of the asset plus interest over a period of time.
Lease purchase agreement (click to view pages) Rent-to-own, also known as rental purchase or rent-to-buy, is a type of legally documented transaction under which tangible property, such as furniture, consumer electronics, motor vehicles, home appliances, engagement rings, and real property, is leased in exchange for a weekly or monthly payment, with the option to purchase at some point during ...
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