Know Your Finance Options
A $1.00 buyout purchase option allows you to own the equipment written on the lease upon fulfillment of the lease’s contractual obligation for $1.00.
Fair Market Value (FMV)
An FMV lease can be the most affordable option. It offers the lowest monthly payment, easy upgrade opportunities, or a buyout at the end of the lease for the fair market value of the equipment.
Equipment Finance Agreement (EFA)
An Equipment Finance Agreement (EFA) is similar to a loan because the equipment is actually being sold to you and dollars are being borrowed to pay for the equipment. You own the equipment from day one and the funding source has a secured interest in the equipment. The contract is still for a specific term with a fixed payment amount.
The option to rent your equipment for a period of time, leaving ownership with the finance organization. At the end of the agreement, you have the option to continue to rent the equipment or own it. There is a one-time signing event that covers both the rental and the purchase period.