Leer Lease Programs
Our leasing program is an attractive option to facilitate your equipment needs in support of your growing business. The following parameters include several important details regarding leasing:
- Replacement equipment projects may qualify for financing up to 100 percent of list price (including freight, delivery, installation, tax, etc.).
- Leases will be written for terms of 24, 36, 48, or 60 months.
- Minimum amount financed is $3,000.
- First and last lease payments remitted in advance.
- Monthly payment will be set up on automatic draft from bank account.
- Leases may be prepaid in full at any time. Prepayment amount is determined by discounting the then remaining obligation as per lease agreement. Partial prepayments are not accepted.
- Leases may be assumable by a third party, subject to Dexter Financial Services approval. However, original lessee remains obligated until lease is paid in full.
- Proof of insurance required for transactions greater than $75,000.
- Equipment package must consist of units manufactured by Leer or Carroll Coolers.
Leasing establishes a fixed monthly payment for the duration of your lease. Changes to prime rate do not affect the monthly payment of a lease.
Leases are written with a $1 purchase option, whereby title to the equipment is transferred to you for $1 upon satisfaction of contracted monthly payments.
Sales tax is charged differently depending on the state in which the equipment is located. Please call us with any questions you have regarding sales tax treatment of leases in your state.
In some cases, lease payments may be fully deductible for income tax purposes. However, this area of the tax code is subject to varied interpretations. Therefore, we recommend that you speak with a qualified tax advisor.
Several states assess an annual personal property tax to equipment. You are responsible for reporting and remitting property tax for equipment financed via your $1 purchase option lease.