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    7 Replies Latest reply on Jan 14, 2009 11:35 AM by LUCKIEST

    What's a fair equipment lease?

    Snowplow Newbie
      I was just quoted a price of $1200/month for a 60 month lease of equipment worth $30k. This is for a start up business. Maybe I am missing something but isn't that rather expensive? What are fair terms for equipment leasing for a start up buiness? Thanks!
        • Re: What's a fair equipment lease?
          Lighthouse24 Ranger
          Yep, that seems rather expensive. What type of equipment and what type of lease/financing?
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          • Re: What's a fair equipment lease?
            golfheaven Adventurer
            18% A.P.R. is pretty well standard for start ups from what is currently going on in economy. Be sure that there is no mark on credit against you personally for the advantages of a lease is to keep your personel credit available.
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            • Re: What's a fair equipment lease?
              tkconsul Newbie
              I would be very wary about these terms and who you are working with. Keep in mind (often not always) the pricing is exactly what you stated a quote! The leasing company will send you prelims that look like real paper, smell like real paper and feel like real paper but in reality are just a means to secure a down payment. The true lease rate and final docs come after your deposit check is cashed and cleared, and more often than not at a significantly higher rate. I also noticed they said they can finance the equipment in 20k-30k increments. Usually......this is because you are a start up and that is the ONLY amount they will be able to secure financing for, thus getting your deposit for the first transaction and then stalling or dragging the future financing they said they would be able to secure for you untill you get frustrated and move on. I would highly reccomend that you check their BBB report as well as go to ripoffreport.com before even considering moving forward with the first transaction regardless how badly you need the equipment or financing.
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              • Re: What's a fair equipment lease?
                LUCKIEST Guide
                What's a fair equipment lease

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