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What is leasing?
Leasing is an
alternative method of purchasing capital equipment.
It requires a customer (known as the "lessee") to
make specific monthly payments over a mutually
agreeable fixed period of time (typically one to
five years). Title for the equipment rests with the
leasing company (known as the "lessor") for the term
of the lease. |
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What is the credit criteria used to make a leasing
decision?
For most
applications, only the name of the company, name and
Social Security number of the company
owner/president, and length of time in business are
required. |
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Can the lease be canceled before the end of the
agreement?
No. However, Granite
Leasing Co. can provide discounted buyout options at
any time during the terms of the lease. |
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Do you provide end of lease options?
Granite Leasing Co.
will notify you near the conclusion of the contract
regarding your options on the lease, unless there is
a specification at the time of contract. This
notification also gives you the opportunity to
upgrade the equipment, if necessary, with Granite
Leasing Co. |
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Do I need to carry insurance on the leased
equipment?
Granite Leasing Co.
requires all lessees to have insurance on the leased
equipment. |
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