Who can lease / finance?
Corporations, Proprietorships, LLC’s, Partnerships, Other Business Entities, Non-profit Organizations, and Associations all benefit from leasing. We finance companies in the United States.
What equipment or vehicles can I lease / finance?
Equipment and vehicles for commercial use greater than $10,000. Service, installation and shipping can also be added to reduce capital outlays.
How long does it take to find out if I am approved?
Assuming all necessary information is provided, our Application Only (up to 75,000) is decisioned within 4 to 8 hours.
What if my company or personal credit is not so strong?
Call us to speak with one of our knowledgeable representatives. While we are able to approve less than perfect credit situations, we cannot help everyone, but we try. Fleetwood has many lending partners that can help you get financing for the equipment you need.
Who is responsible for insuring the leased equipment?
The lessee is responsible for insurance; however, coverage can be included with your lease for a nominal fee.
What are my options at the end of lease?
Options available include purchasing the equipment. There are specific tax benefits to a lease/finance agreement. The options to purchase are usually $1.00 or 10% or the Fair Market Value (FMV), whichever was agreed to in the Lease Agreement.
Can we payoff the contract early?
Yes. There are no early payoff discounts in the first 12 months of the contract but starting in month 13, the payoff will be calculated as the remaining payments discounted back to the present day at a discount rate of 4%.
What if the equipment I receive has problems?
When the equipment of vehicle is delivered, you will be contacted upon receipt of your equipment to ensure you have received what was ordered and it is proper operating condition. Going forward, you would contact the vendor for warranty and service issues.