Question 1

Is it better to lease or buy business equipment?

Accepted Answer

Leasing is often better for companies wanting to preserve cash flow. It offers lower monthly payments and avoids upfront depreciation costs. We offer both flexible leases and equipment financing plans to fit your specific goals.

Question 2

Can I refinance equipment I already own?

Accepted Answer

Yes! For titled assets like trucks or heavy machinery, we can provide liquidity by refinancing equipment you already own to unlock working capital from your existing fleet.

Question 3

What credit score is required to lease equipment?

Accepted Answer

ILS offers programs for various credit profiles. While higher scores often secure the best terms, we also have asset-backed financing options for those looking to build or repair their credit history.

Equipment Financing and Working Capital Frequently Asked Questions (FAQs)

FAQs: Financing Programs

What is the average term of an equipment lease?

Is it better to lease or buy business equipment?

What credit score is required to lease equipment?

How long does it take to get approved for an equipment lease?

Who warranties and owns licensing for the equipment?

Can I lease equipment from multiple vendors?

Can I lease used or pre-owned equipment?

Can I refinance equipment I already own?

Can I refinance equipment currently leased with another company?

When do lease payments begin?

Can lease payments be deferred or skipped?

How are monthly payments determined for equipment leasing?

Who owns the equipment during the lease?

What happens at the end of the lease?

Can I return equipment early and stop payments?

Is an equipment lease transferable?

Why choose Innovative Lease Services?