When does the lease start?
Your lease will begin upon signing of the lease agreement.
What are my options at end of lease?
There are several options for lessees at the end of the lease term:
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Continuing to lease;
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Purchasing the equipment;
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Returning the equipment to the Leasing Company.
Should you choose to purchase the equipment, the following options exist for the purchase price:
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Price based on Fair Market Value (FMV);
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$1.00 Buy Out price, where you pay just $1 to purchase the equipment.
The end of term options are decided by you, the customer, and structured in to the lease prior to execution.
What if the equipment I receive has problems?
When your shipment arrives, you will be contacted to ensure that you receive exactly what you have ordered and in proper condition. After your initial receipt of the equipment, your vendor will work with you to troubleshoot problems or replace equipment as defined in your warranty. As the lessee, you will receive the benefits of all “buyer” warranties, as well as the responsibility for maintenance.
Who owns leased equipment?
The Leasing Company, as the lessor, is the owner of leased equipment until you choose to purchase the equipment at end of lease.
May I end my lease early?
If you choose to end the lease early, you may. However, it is only under rare circumstances that terminating a lease during its term is an advisable option. The cost to terminate a lease is based on the balance of payments, plus tax, and any payment arrears. NetLease makes every effort to maximize your lease termination options with flexible equipment upgrade programs.
Can equipment be purchased at the end of the lease?
NetLease offers lessees the option to purchase the equipment at the end of the lease. Should you choose to purchase the equipment, the following options exist for the purchase price:
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Price based on Fair Market Value (FMV);
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$1.00 Buy Out price, where you pay just $1 to purchase the equipment.