Q: What is a lease?
A: A lease is an agreement to pay a specific payment over an
agreed to schedule of time in exchange for the usage of equipment.
A lease allows for the option of the purchase of the equipment at
the end of the agreement should the lessee desire to purchase the
equipment outright.
Q: What happens at the end of my lease?
A: You have four options at the end of a lease: To purchase
the equipment, to return the equipment to the lessor, to continue
leasing the equipment or to upgrade the equipment for a new lease.
Q: What are my purchase options at the end
of my lease?
A: The purchase option at then end of your lease is the amount
you will be required to pay should you wish to acquire ownership
of the equipment. The option amounts can be based on anything from
as low as a single dollar to the fair market value of the equipment.
Q: My business is brand new. Can I still
lease?
A: Yes. Even brand new business can establish a lease with
SimpleLease so that they can establish their credit. Simply call and
ask to speak to one of our sales reps to help you.
Q: Why am I being asked for my personal
information for my company’s lease?
A: With brand new company’s and those whom have had
past credit challenges, the personal information is gathered to
add you as a co-lessee or guarantor to the lease. This allows us
to use your credit information to bolster your company’s in
order to approve the lease for your company.
Q: What’s the registration fee for?
A: The registrations fees are to cover the costs of the set
up and administration of your lease as well as the provincial fees
for registering the equipment with the province.
Q: My lease is over and I want to return
my equipment, where do I take it?
A: Simply call our end of term department at 604-609-5377
or toll free at 1-800-288-7875. Our end of term group will arrange
the details for you.
Q: My company has changed banks and I need
to change the account where my payments are coming from, who do
I talk too?
A: Simple fax us a note stating your company name, lease
number, the effective date you wish to change bank accounts and
attach a copy of a voided cheque from the new account to us at 604-609-5380
or toll free at 1-800-218-7875.
Q: We moved our location. Do I need to do
anything?
A: Please fax us a notice of move with the new address and
contact numbers at 604-609-5380 or toll free at 1-800-218-7875.
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