FREQUENTLY ASKED QUESTIONS

FREQUENTLY ASKED QUESTIONS

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  Question :
  What is a lease?
 Answer :
 

A lease is a form of financing allowing the customer to pay for equipment as they use it.  Compared with a loan, the user of the equipment does not own the equipment.  Rather, they pay for the use of the equipment, paying for its use out of income.  In many cases, there are tax advantages to acquiring equipment by way of a Lease, rather than a Loan.*

*(One such advantage is that Lease payments are typically deductible as a monthly business expense.  Please consult your accountant or tax advisor for specific tax advantages that may or may not be available to you and your business through an equipment lease.)


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