Who can lease?
Any company, association, or organisation, professional firm, partnership or sole proprietorship.
Who owns the leased equipment?
The Leasing company, but you can extend the usage, upgrade to new equipment or return the equipment at the end of the term.
How do I get a lease?
Submit your credit application for approval. Upon approval and formal agreement, you receive the equipment, and then begin your lease payments.
Do I need a down payment?
We typically require a deposit. Often this can be less than a supplier may require to secure the goods.
How are lease payments calculated?
Calculations are based on the equipment cost and the type of lease you choose over the specified minimum term.
How is credit worthiness determined?
DND Finance will perform an assessment of your circumstances based on the information you provide, and may use other available information such as credit searches where you consent to us doing so. Based on this information and our credit policy we will make a lending decision.
Can a lease be cancelled?
Typically no.
Can I purchase my new equipment when the lease is over?
It depends on the jurisdiction. In countries like Canada, you may be able to purchase your equipment, whereas in countries like the UK, you are not able to. It is in your best interest to discuss all your options with your lease professional before embarking on a lease transaction.
Who signs the lease?
The authorized officer of the company: sole proprietor, partner(s), director(s), or other nominated officer(s).
Who is responsible for servicing or maintaining the equipment?
You are. But you receive the protection of all warranties offered by the vendor.
Is insurance required?
Yes. An endorsement on your present policy is a mandatory requirement.
Does leasing affect my lines of credit?
No. Established lines are not affected and can continue to be used for all your needs.
Is leasing better than a bank loan or using my existing line?
In many cases yes.
Because leasing matches your costs to equipment use, you ensure maximum cash flow advantage and curtail additional costs of ownership.
Because leasing allows for 100% financing and a lease term matched to the useful life of the equipment, payments are lower. This helps your cash flow.
As you use the new equipment to grow your business now, your bank lines and the cash you generate are there to meet increases in working capital requirements.
