Wyatt Equipment Leasing & Financing
Businesses often use leases and loans as financing options. However, the two products differ in several important respects.
A commercial equipment lease is an agreement allowing a lessee to utilize equipment in exchange for making payments, while a finance agreement allows a borrower to pay back a set amount plus interest in exchange for ownership of equipment. Often, lease agreements include a ‘residual’ offer that allows the lessee to purchase the equipment at the conclusion of the agreement for a small fraction of its original price.
Wyatt Leasing provides numerous leasing options to fit your needs. Here are a few:
10% Purchase Option
For those who like the flexibility of the option to return the equipment or purchase it at the end of lease, but want to cap their equipment buyout at a certain percent of the equipment cost, this is the option for you.
Terminal Rental Adjustment Clause (TRAC)
A TRAC lease is specifically designed for over-the-road vehicles and trailers.
This lease contains a Terminal Rental Adjustment Clause (TRAC) that guarantees you a certain residual price for the vehicle when the lease expires.
This option is for those who are fairly certain that their equipment will retain its value. Therefore, they plan to purchase the equipment at the end of the lease. When the lease term expires, you can simply purchase the equipment for a $1.
(Please consult your accountant for lease tax treatment for your company)
If you have any questions about any of our products or services, please call toll free 1-800-845-8516. Customer Service representatives are available Monday to Friday from 7:30 a.m. to 5:00 p.m. PST.
If you are just shopping and need a line of credit, or if you're ready to make a purchase, you can Apply Now.