WHAT IS LEASING?
A flexible form of financing which allows companies to purchase the equipment of their choice and pay for it over a period of one to seven years. 90% of US companies lease some or all of their equipment, and over $700 billion in equipment is acquired through leasing annually.
Leasing offers several advantages over bank financing and paying cash.
CAN A LEASE BE CANCELED OR PAID OFF EARLY?
Empire’s leases are non-cancelable, but equipment may be traded in for new leased equipment before the end of the initial term. Empire also offers the option for early buy-out during the lease term without prepayment penalty
ARE THERE ANY HIDDEN CHARGES?
No. Empire does not charge interim rent, application fees or maintenance fees. Other than the monthly lease payment, the only charge is a one-time documentation fee associated with the filing of forms that may be required in your company’s state of operation. This fee is normally under $200.
WHAT’S THE INTEREST RATE?
Because a lease is not the same as a loan, there is no “interest rate” as we usually think of one. By leasing, you are making a monthly payment determined by the type of leasing plan you choose, the term of the lease, and the cost of equipment. Leasing also offers flexibility, convenience, and potential tax advantages that a bank loan does not.
HOW DO I GET STARTED?
Simply fill out our one-page Express Lease Application and send it in. The application provides us with all of the information necessary to approve most companies for purchases of up to $250,000. Larger approvals will require the submission of corporate financial statements or tax returns. Your application will be processed immediately and a leasing specialist will contact you within 24 hours to discuss which lease best suits your company. Empire will then contact the equipment vendor, issue a Purchase Order on your behalf, and e-mail the contract to you for signature.