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Equipment leasing gives you access to much-needed equipment without the higher monthly cost associated with a loan. In many cases, your business can also avoid a down payment, saving you thousands
GreatAmerica is the largest independent, family-owned national commercial equipment finance company in the U.S. [3] and is dedicated to helping manufacturers, vendors, and dealers be more successful and keep their customers for a lifetime. A $3 billion company with life-to-date finance originations of $16.9 billion in the office equipment ...
Equipment loans often have a higher payment than an equipment lease but allow you to own the asset outright at the end of the loan term. For many business owners, buying equipment is an important ...
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
At the same time, the asset is depreciated. If the lease has an ownership transfer or bargain purchase option, the depreciable life is the asset's economic life; otherwise, the depreciable life is the lease term. Over the life of the lease, the interest and depreciation combined will be equal to the rent payments.
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset but also some share of the economic risks and returns from the change in the valuation of the underlying asset.