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Questions To Ask Before Financing Equipment
By Erin Yogerst - November 23, 2015
When contacted by a leasing company, you will be asked many questions to better understand your business needs. It is important for you to also ask questions so you can understand the company you will potentially be dealing with and the services they will provide.
We have compiled a list of questions to get you started, but you should also ask questions that pertain to what you need.
We will happily answer any questions you may have with honesty and integrity. So let no question go unasked. We are here to serve you and keep your success strong.
- How well do you (the representative) understand the industry I serve?
- What kind of support to you (the leasing representative) provide?
- Is your company reputable? Can I have a list of verifiable references?
- Do you have records of your accreditations and government licensing?
- What is the total cost?
- What are my payment options?
- Is there room to negotiate leasing prices?
- Are there any tax benefits to leasing?
- Do I have any obligations for the equipment?
- What is your policy if something breaks?
- What is my responsibility if the equipment is damaged or destroyed?
- What happens if I want to change or end the lease early?
- How can I upgrade or add equipment under this lease?
- What are my options at the end of the lease?
- Are there any extra costs at the end of the lease?
- What procedures must I follow if I choose to return the equipment?
- Do you offer buyout leases?