Leasing companies

[vincent]

Anyone know of any good leasing companies that deal with carpet cleaning equipment?

 

[Ron Lippold]

just go to the bank, the leasing companies will get a guy in trouble, OPM.

 

[Jim Martin]

agree.........if possible do a finance ....waaay better.....no buy out crap..no propriety tax ( in Arizona ....Check your area).at the end its yours

 

[vincent]

I leased my first tm from a place in IN. Had no problems, rates were competitive and the buyout was a $1. The problem is with this company they don't deal with cc'ing anymore.

Banks are a pain in the ass.

 

[Jim Martin]

then you can try..... Kip at country side..................good luck

 

[packfancjh]

Cypress financial has done very well for my customers. They have a ton of different options.

 

[MicahR]

I may be an Interlink supplier, but I have access to numerous leasing companies.

There are only a couple that deal only with carpet cleaners. One only deals with one brand of machines. The other deals with many.

Interlink Financial Services will definitely treat you right. In fact, they are the only leasing company we deal with. They are very flexible, honest, and have a few unique features to their leases that other companies don't have. They are the only leasing company that I deal with. Not because they are affiliated with Interlink, but because they make the whole leasing process go very smooth and they follow through on what they say.

Go to: www.interlinkfinancialservices.com and you can get contact info and an app.

When you give a ring ask for either Chad or Rachel, and they can answer any questions you may have.

I can help you as well if you have any questions.

Micah

 

[TimP]

Micah,

I'm leasing through them. And my gripe and it's probably with all leases is that if you go to pay it off they don't give you a pay out that is based on principle and interest. They add up the total of payments then take a % off. In my case I had been paying for about 18 months and my pay out was equal to the starting balance. :shock: I had it figured at about 6,000 less. I feel like I've been robbed and wont deal with them again. When I talked with them before we came to a deal they told me different so I'm rather annoyed. Anyway I would definitely finance unless you have extreme reservations about making it. Since you can give it back and not harm your credit too bad since they will definitely make sure they have got way more paid to them than what the equipment is worth.

 

[miksar]

Micah, I had the same experience as Tim, my local Interlink dealer as well as the person I talked to at Interlink said there would be a big discount if I decided to payoff early. I trust my local guy, I think he was given the wrong info, anyway they totaled the total lease payments and deducted about $500.00. You would think with all the vehicles and other major purchases I've made in my life I would know better, probably should have read my contract better, another lesson learned, if not in print don't believe it.

 

[John Olson]

Call me Vince. Sticky works with Hathaway and he has done well for us. I have also used Cypress and they are good but Stephanie isn't working our account so went back to Justin with First Pacific and now Darren with Lease Corp has done a couple for us. I would suggest talking with a couple companies and see who is able to work up something that works for you.

I forgot to add I don't make any money off any of the companies so they know the only thing that keeps them getting my referrals is getting YOU the best deal or I don't send anyone their way.

 

[Sticky]

Anyone know of any good leasing companies that deal with carpet cleaning equipment?

I work for Hathaway Capital and would love to help you out with any financing needs you may have. I am available anytime on my cell phone.
585-285-1378 we specialize in leasing carpet cleaning equipment.

There are many advantages to leasing equipment.(it is much easier as well)

Give me a call....

 

[Chris Muetterties]

Kip @ Country Leasing they smoked all the other quotes

 

[Brad_Smith]

Yeah Kip at country will treat you right.

 

[Mark C]

I leased equipment through Hathaway Capital in the past. I was very happy with the experience. I had my lease structured with a $1 buy out at the end and a payment that was reduced by 1/2 during my slower months.

Another company that I have had dealings with is Direct Capital.
(603) 373-1925 Kristin Thayer

 

["The" Al Bradham]

And for my 2 cents.

I worked with Kip at Country Leasing before and found them very good to deal with, would not hesitate again to go with them again.

I would shop around and make sure you are comparing apples with apples. My first Vortex I leased I shopped payment, down payment, and buy out. What I found was a difference of $380.00 per month in payments. Forget those faxes you get that you are "prequalify for a $100,000 in new equipment".

 

[MicahR]

TimP and miksar:

Thanks for the heads up.

I want to be able to give my customers the best and most painless deal I can.

I am under the same impression about early payoff. In fact, that is one of the things I bring up to customers looking to lease, and was assured that is what makes I.F.S stand out from other leasing companies.

So far I haven't had a customer that has tried to pay it off early, but I'm certainly going to call and find out exactly how they have it set up.

I don't liked being duped any more than my customers do. My name is stamped on every deal I do, and I don't want my name tarnished having something come back on me. In my dealings so far with I.F.S. they are willing to put the wheels of change in motion if need be.


I'll look into it more and report my findings.

 

[steve frasier]

we also used Kip @ Country Leasing on the vortex, he easily beat Hathaway Capital which we had used one time before

the $1 buyout wasn't much different then a bank loan and the lease came with a buyout clause, Hathaway wouldn't offer an early payoff

if you lease, it doesn't affect your credit report like a loan will, so if you plan a major purchase some time in the future then a lease might be better

If you lease then check with your accountant, the IRS treats a $1 buyout as a finance and they treat a 10% buyout like a lease so that may affect your decision

 

[floorguy]

EARLY PAYOFF!!!!


that right there is the biggest difference between lease companies and banks

the 2nd...slightly higher interest rates...

the plus side is it doesnt show up on a credit score (so long as you pay) which allows you to finance other things if need be..

leases are for tax write off and if you have slightly less then perfect credit...thats it...you have a 4 yr lease..guess what you have 4 yrs worth of write offs right there...


Jim...on the property tax (and yes i know its different everywhere) did you know you should be paying it on all that equipment in your biz???

In Utah the NFIB got a law passed that excludes things under $3500 I think it is.

the damn form they have is ridiculous (well use to be) i mean they want chairs and all kinds of weird shit added in there...

oh yeah the 1s and last mths payment are sometimes a bitch to, if you are slightly tight in the wallet..

 

[J Scott W]

Both leases and regular loans have their advantages and disadvantages. It depends on the situation.

Much like a loan, a lease is front-loaded. You build very little equity during the first year or so (depending on the length). Try to pay off a 7 year loan early and you will find most of your payment went toward interest. The principal was reduced very little. It will happen the same way with a lease.

There is also a difference in the way sales tax is figured. On a loan, the sales tax will be part of the amount financed. With a lease, many states tax not the original sale but each payment. So if you pay off early, all the unpaid sales taxes must be added in to the payoff figure.

If you plan on paying off during the first 20 - 25% of the life of a lease, you will be better off with a loan. If you go longer before pay off the lease may have some benefits.

There can be benefits related to how you deduct something on your income tax. A lease is very straight-forward. The entire payment is deductible. With a loan you need to separate interest from principal on each payment. However if you will be using section 179 there may be advantages in the first year with a loan. Whichever way you go, eventually you deduct what you paid. It is a matter of how and in what year the deductions and depreciation are taken.

Leases are not counted as loans on your balance sheet. This may matter to your credit score and ability to borrow money for other reasons. For those who are sole proprietorship, this can effect the interest rate you pay on personal loans such as a mortgage. Lease simply does not show as money you have borrowed. Doesn't show up on your credit report at all.

Leases may also be easier to get. It can be hard, especially for a new company, to get a lease and even harder to get a loan.


Interlink Financial offers something no bank does. Free regular maintenance on your van and truckmount for the first two years of your lease.

Consult with someone who knows before deciding what fits your financial situation.

 

[floorguy]

oh yes forgot the sales tax part...


yup scott is right on everything there...

more so the "check for your self which works best"

that should just be a duh