Leasing 101

What is a lease?
A lease is a contract where one party (the lessor) grants use of equipment to another party (the lessee) for a specific period of time at predetermined payment and conditions.

Who can lease?
Any sole proprietor, partnership, corporation, or LLC can lease equipment for their business.

What can be leased?
Virtually any type of new or used equipment needed for a trade or business. This includes Medical equipment, software, leasehold improvements, working capital and much more.

What is the term of a lease?
The term of a lease can run as little as 24 months up to a maximum of 84 months.
? Affinity One can provide tailored financing to fit most needs. For example, 3 months @ $0.00 followed by 3 months @ $399.00 followed by 60 months @ $X.XX with $1.00 purchase option – this type of financing is tailored for a new practice that needs time to grow and build a patient base and still needs to purchase equipment for the practice.

What are my options at the end of a lease?
At the end of the lease, we offer the following options:

$1.00 Buyout
This plan allows the customer to own the equipment with nothing to pay at the end of the lease term and the equipment title is then transferred from the leasing company to the customer. The benefits of a $1.00 Buyout Lease are building equity in the equipment as well as defining costs and managing cash flow. There also may be many tax benefits associated with a $1.00 Buyout Lease under IRS section 179.
(Please contact us for details on IRS section 179)

10% Purchase Option
This program offers a fixed purchase option at the end of the lease term. At the end of the lease, the equipment can be purchased for 10% of the original cost or returned with nothing further to pay. The benefits are lower monthly payments, potential tax benefits as well as defining costs.