Why Lease Practice Equipment ?
80% of US business lease at least one piece of equipment. Therefore, it makes excellent sense in variety of circumstances. Also, leasing allows 100% of the purchase price of the dental practice equipment leasing to be financed, so you won’t need to come up with a hefty down-payment. In Addition, it allows for soft-costs like shipping, installation, and training to be included in the financing. By leasing, you will:
- Optimize cash flow, Conserve capital & Improve budget-planning.
- Also, Save personal credit and personal use and allow new equipment to generate income, and pay for itself overtime.
Capital Lease (you own the equipment at the end of the lease) is a $1 purchase option.
As a result, the entire purchase amount is financed. At the end of the lease a $1 payment is made and the equipment is your with 10% purchase.
About True Lease:
- FMV (Fair Market Value)
In addition, this type of lease is a great way to stay ahead of rapidly changing technology, and allows for upgrading to new equipment as needed. Because, FMV leases also allow you to expense your payments and accelerate deprecation. Most of all, the equipment will be purchased at fair market value at the end of the lease term. As well as, sometimes this is capped at 10%. Therefore, consult your tax adviser for benefits.
Practice Equipment Lease Terms:
We can tailor lease terms to your specific needs, standard terms are from 24-60 months. And, shorter frame time keeps financing costs lower. Also, a longer-term allows expensive, but necessary equipment to be obtained with a low, monthly payment.
How Does Practice Equipment Leasing Work?
Our approval process is handled with a simple, one-page application. Hence, complete and fax to us the one page application, including information on the business entity, the equipment being purchase, the cost, and information on the vendor.
As well as, credit department assesses the status of the applicant. Because the application may be approved within minutes, or additional information maybe requested. In addition, once approved, we make great effort to provide you with the best possible lease rate and terms available. Because, lease documents, along with detailed instructions, or fax or over-nighted to you for signature.
A purchase order is sent to the vendor once you are satisfied and have signed and sent back to us the appropriate documentation. So, once the vendor has the purchase order, the vendor will ship the equipment and schedule installation. Because, after successful installation, we call you for verbal verification that the equipment is in good working order. In some cases, a delivery inspection may be requested. Finally, after verbal verification, the vendor is paid in full, and the lease starts.
In conclusion, most of all our lease specialists are dedicated to providing full service by being available to answer your questions at any time and to resolve any difficulties at me arise. Because, control of the process is in the hands of the customer. Finally, the lease does not start until you specifically authorized us to pay the vendor, not before.
Where Do I Start?
Every lease begins with a simple, one-page application. Also, depending on the size of the transaction and credit considerations, we may ask for additional information including some or all of the following: Personal Financial Statement,Personal Tax Returns, Business Tax Returns, Recent Bank Statements, Interim Financials, and Business Plan.
MOST of our transactions DO NOT require additional documentation, but you should be assured that if we do you requested, we are working hard to get you the lowest possible payment.