Compass Leasing
Equipment Leasing since 1969
LEASE TERMS - The equipment lease has become standardized, flexible and easy to understand. Compass offers traditional terms of two to five years with fixed monthly payments on virtually any size equipment. Lease terms of seven and eight years are available on equipment costing over $100,000. Compass will also create special structures tailored to fit individual business circumstances.
SPECIAL STRUCTURES
- TRAC Lease - For titled vehicles and certain commercial, motorized, self propelled equipment used by commercial entities. This tax advantaged lease structure provides especially attractive lease rates. See our TRAC Lease Brochure for more details.
- Physician lease - Special APPLICATION ONLY lease as described in "LEASE CATEGORIES" below.
- Municipal lease - Allows Local, City and State municipalities to enjoy the advantages of a lease, while accommodating annual fiscal appropriations requirements. See our Municipal Lease Brochure for more details.
- 90 Day Deferred - To accommodate the "break in" period of a new piece of equipment, Compass can defer lease payments up to 90 days after collecting one standard advance lease payment.
- Step Payment Plan - A step payment plan allows for lower initial payments that graduate during the lease term in synchronization to the increasing profitability of the new equipment.
- Seasonal Payments - For customers who have seasonal revenue, Compass will structure lease payments to mirror such fluctuations.
END OF LEASE OPTIONS - End of lease options are established at the beginning of the lease. A selected option will reflect the Lessee's wishes regarding the lease rate and overall lease structure. Following are the common end of lease options:
- Fair Market Value Purchase Option
- $1.00 Purchase Option
- 10% Purchase Option
- Abandon Equipment
LEASE CATEGORIES
- Application Only Lease - $5,000 to $75,000 does not require financials.
- Full Credit Lease - Over $75,000 requires credit application and last 3 years of financial statements. Statements must be audited or accompanied by tax returns. Interim financials may also be required.
- Board Certified Physician Lease - Physicians in business over three years qualify for the Application Only Lease up to $200,000.