Commonly Asked Question On Equipment Leasing and Financing
Q. What is a lease?
A lease is a contractual agreement between the lessee (the customer) and the lessor (Ryan Capital Leasing Corporation). We purchase the equipment from your vendor and lease it to the lessee for a fixed monthly payment.
Q: How does the equipment lease process work?
Select the equipment and/or software you would like to obtain and finalize the price with your vendor. Ryan Capital Leasing will help you determine the best equipment lease option and term. Complete the application and upon approval, Ryan Capital Leasing will begin the process of documenting the transaction and issuing a purchase order or dispensing funds to your vendor depending on the situation.
Q: What type of equipment can be leased?
Most types of equipment or software can be leased as long as it is used for business purposes.
Q: Do you offer leasing on software only?
Yes, we provide 100% financing on all types of software, software support and implementation costs.
Q: Who can apply for a lease with Ryan Capital Leasing?
Any business, company, association or non-profit can obtain a lease as long as it is used for business.
Q: What types of term payments do you offer?
Lease terms may be set-up from 12 to 60 months. We also provide seasonal payment plans based on cash flow fluctuations. Contact us to discuss your need with a leasing specialist.
Q: Are the lease rates fixed for the entire term?
Yes. The lease rates do not change.
Q: What are the minimum and maximum amounts for an equipment lease?
We provide leases on transactions from $3,000 and above.
Q: What are the options at the end of the lease period?
You have the following options: $1.00 buyout, 10% purchase option and a Fair Market Value Option (FMV).
Q: Is a regular financing plan available?
Yes, our Equipment Finance Agreement may be utilized for customers who prefer to own their equipment outright.
Q: Can I obtain my equipment from a third-party other than a vendor?
Yes, as long as the equipment is used for business.
Q: Can I bundle installation, sales tax and set-up costs into the lease?
Yes, these soft costs such as installation, sales tax, set-up costs and product support can be included in the monthly lease.
Q: Is insurance needed on the equipment?
Yes, you must carry insurance coverage for fire, theft, loss and general liability. The details on insurance are explained in the terms of the lease agreement. Heavy software transactions may not require insurance.
Q: Can I add equipment to a lease?
Yes, you can add equipment to your existing lease at any time under our Master Lease Program.
Q: What type of information do you need to begin the lease approval process?
We request the following information: Basic company information, Business owner/principal information, Type of equipment & price, Signature authorization.