|07-17-2005, 11:09 PM||#81 (permalink)|
Join Date: Jul 17 2005
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The way I understand a lease, if you just plain lease, you only pay rent for the equipment for a pre determined time and get nothing at the end.
You have taught me a lesson, spend the small amount on an Attorney compared to the price of equipment prior to signing a lease to own contract. It seems that you would save thousands and a lot of wear and tear.
|07-18-2005, 10:48 AM||#82 (permalink)|
Join Date: Feb 9 2005
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That's one type of lease. You can also have leases that have a FMV (Fair Market Value), 20%(of original purchase price), 10% or $1.00 buyouts. We can even customize your buyout at the end.
BUT - the one very important thing to remember is - If you're expecting a specific buyout at the end of the lease - GET IT IN WRITING BEFORE YOU SIGN. This will prevent all of all problems mentioned here!
There are companies ALTHOUGH MINE IS NOT ONE, that tell you there's a specific buyout and then don't provide the buyout letter. It's those customers that are vulnerable at the end of their leases. It kills me when people tell me that they were taken advantage of at the end of their lease. I always ask them if they got a buyout letter - and the answer is always the same - "no." I can't believe there are people that would take advantage of customers like that.
I tell people that the reason we put it all in writing is to make things easy throughout the entire term of the lease - now, and at the end.
|09-28-2005, 11:53 AM||#83 (permalink)|
Join Date: Sep 26 2005
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I am not a salon owner but I do outbound sales to the US for Office equipment. We come up against a lot of financing companies and I have found in my experience the stuff mentioned here happens quite a bit. A couple of things that you should always keep in mind. (Which may happen with tanning beds as well) if you want to return your item at the end of your lease and you live in Maine, they may get you to ship (At your expense) the bed to California. Also some will extend your lease on a 12 month basis unless you notify them at least three months prior to your lease expiry of your intentions. They also sometimes change you additional fees and such.
When ever possible it is always better to get funding from your bank. As you will be the outright owner of that equipment.
Hope this helps a little.
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