Question 1

What is equipment leasing?

Accepted Answer

An equipment lease is a rental arrangement between an equipment owner (the lessor) and a business owner (the lessee). The lessee gets to use the equipment by paying the lessor (e.g., finance company) monthly lease payments over a mutually agreed upon term length.

Question 2

Can I lease used equipment?

Accepted Answer

Absolutely. You can lease used business equipment with Relinat Office Systems. Call 609-871-8595 today.

Question 3

How do I qualify?

Accepted Answer

Your business needs to be operating for more than one year, and it needs to have $250,000 or more in annual gross revenues. Call 609-871-8595 for more information.

Question 4

What types of leases are available?

Accepted Answer

We offer offers several types of equipment leases. These include fair market value (FMV) and dollar buyout leases, which are the two most popular and widely used options available. An FMV is a good choice if the equipment you are interested in quickly depreciates in value. A dollar buyouts is ideal if you plan on keeping the equipment at the end of your term.

Question 5

What happens at the end of my lease term?

Accepted Answer

Fair market value (FMV) leases typically allow several options at the end of your term. Your first option is to return the equipment if your business has no more use for it. If you want to continue using the equipment without purchasing it, you can extend your lease agreement. Your last option is to purchase the equipment for its fair market value at the time. Dollar buyout leases allow the option of purchasing the equipment for $1 once the lease term expires.

Question 6

Will my lease payments be elgible for a tax write-off?

Accepted Answer

In many cases, yes. If the equipment you lease qualifies for the Section 179 tax deduction, you can deduct the monthly payments from your taxable income. Not all types of equipment is eligible, and there are certain IRS requirements that need to be followed. So, make sure to consult with your tax professional. It is also a good idea to become familiar with the various kinds of Section 179 qualifying property.

RELIANT'S HELP FAQ

Frequently asked questions