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Frequently Asked Questions
One of the best things about deciding to lease is choice. A lease is all about options, and a lease purchase option is one of the most common elements of a standard lease. Knowing that you have a lease purchase option open to you at the end of your lease gives you the flexibility of choice. A lease purchase option allows you to decide if you want to stay with the product you have leased, or you can walk away from that product and move into a new lease.This is one of the major benefits of the lease versus purchase of the equipment outright.
Advantages of Lease Purchase Option
For example, if you are interested in purchasing the product you are leasing, a price can be agreed upon that you can pay at the end of the lease. Your monthly payments would then be going toward the value of the product during the time you are leasing it, with the lease end value reflecting what the product is worth at the end of the lease. Hence: lease purchase option. This is different, and gives much more flexible terms, a key benefit in the lease versus buy argument.
This means that lease payments can vary, due to the retained value of the product you have leased. If you have leased computer equipment, your payments will tend to be higher since the technology changes so quickly. However, the buy out price will also be lower, for the same reasons.
If you have leased a product that has a higher lease end value, like heavy equipment, then your lease payments would be lower, but your lease purchase option price would be higher. That being said, lease payments can be increased to suit your needs, which would lower the lease end purchase option price.
Access Equipment Leasing Offers Choice
Since we can customize a lease to suit your specific needs, we encourage you to contact one of our leasing professionals. We have dealt with nearly every industry in North America, so we have a lot of experience to draw from. We can guarantee you a fast competitive quote because we know where to look for the best prices.
If a lease purchase option sounds like it might be of interest to you, please feel free to contact us. We also have a glossary of leasing terms you can look over, as well as an extensive frequently asked questions section.
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