Frequently Asked Questions

A lease is a contractual agreement between the leasing company and your business that allows you to use the equipment for a specified period in exchange for regular payments. At the end of the lease term, you may have the option to purchase the equipment, renew the lease, return the equipment, or own the equipment outright.

No, submitting an application does not initiate a credit check immediately. We will review your application first and only proceed with a credit check after obtaining your signed consent.

Most credit decisions are made within the same day. However, depending on the type of equipment and the requested amounts, the application decision time can vary.

Most types of construction, agriculture, trucks, vans, cargo vehicles, trailers, and Powersports equipment priced at $100K and below have no age restrictions, allowing for greater flexibility in your choices.  

Yes, we offer leasing options for new and used equipment, providing flexibility to meet your business needs. 

Leasing offers several benefits, including lower upfront costs, potential tax advantages, and the ability to upgrade to newer equipment more frequently. It helps manage cash flow better and can provide more flexibility than traditional financing.

Yes, we offer flexible lease terms tailored to your specific business needs. Our goal is to provide leasing options that best support your operational and financial requirements.

Lease terms can vary depending on the type of equipment and your business needs. Typically, lease terms range from 24 to 72 months. 

Ending a lease early can result in early termination fees, which will be specified in your lease agreement. If you anticipate needing flexibility, discuss this with us, and we can explore options that best suit your needs.

Depending on the lease terms and your credit profile, there may be upfront costs or security deposits required. Our team will provide a detailed breakdown of any initial costs during the application process.

You will need to obtain adequate insurance coverage for the leased equipment. This typically includes liability, collision, and comprehensive coverage. We can provide specific insurance requirements during the lease setup process.

Leasing equipment can provide several tax benefits. Lease payments are often fully deductible as a business expense, which can reduce your taxable income. This can result in significant tax savings compared to purchasing equipment outright.

Yes, lease payments are generally considered a business expense and can be deducted from your taxable income. This can provide a valuable tax benefit, lowering your overall tax liability.

Section 179 allows businesses to deduct the full purchase price of qualifying equipment purchased or financed during the tax year. While traditional leases may not qualify, a lease-purchase agreement (a type of capital lease) might allow you to take advantage of Section 179 deductions. Consult your tax advisor for specific guidance based on your lease agreement.

Yes, leasing used equipment can still offer tax benefits, such as the ability to deduct lease payments as a business expense. The specific tax advantages will depend on the structure of your lease agreement and applicable tax laws.