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LEASING Q & A's
Q. What is Leasing?
A. Leasing is a contractual purchase obligation. Payments are structured monthly, quarterly, semiannually, or annually in arrears. The big plus in lease-purchase is that it allows an entity to acquire the necessary equipment without large capital expenditures.
Q. What can I lease from Comvest?
A. All types of emergency vehicles, municipal equipment, office and medical equipment, public buildings, school equipment, computers, telecommunications equipment, and all additions hereto.
Q. Who qualifies for a lease-purchase?
A. Cities, county and state governments, public service districts, paid and volunteer fire/EMS departments, schools and boards of education, hospitals and 501( C ) (3) corporations.
Q. What are the advantages of leasing versus a standard loan?
A. Leasing is an intelligent alternative to a bank loan which normally has floating rates. Leases are available at the most competitive rates with quick turn around on credit decisions and funding. Leasing equipment allows you to have more cash available for expenses such as improvements, expansions, or day-to-day operations.
Q. Are there any ownership benefits?
A. The equipment or vehicle is titled in the name of the entity and the lessor simply holds a lien on the title until all payments have been satisfied.
Q. What about payments terms?
A. Terms range from twelve months to ten years, depending upon the type of equipment being purchased and its useful l life.
Q. Are only certain vendors involved in the lease-purchase projects?
A. Any type of capital equipment may be selected from the vendor and equipment that you're looking for, and call us with the information. It's that simple.
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