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Who
can qualify?
- American
Express Equipment Finance products
are available to business
customers only. If you have been
in business less than two years,
the owner(s) will be required to
personally guarantee the lease.
What
is the process?
- The
fastest way to start the process
is to complete the online
application and submit it through
our secure site directly to
American Express Equipment
Finance. Usually within two hours
we will know if your application
has been approved. After receiving
an approval, we will submit your
equipment list to American
Express. They will prepare
documents and e-mail or fax them
to you for your signature.
What
is required before my order ships?
- You
must have signed and returned the
lease agreement and all other
required documents back to
American Express. Once received,
American Express will notify us
and we will ship your order.
When
do my lease payments begin?
- Once
you have received all of the
equipment you ordered, your lease
will automatically begin and you
will be invoiced monthly.
What
is an American Express Equipment
Finance Master Lease Agreement?
- Many
companies regularly require
different types of equipment at
varied times and would be better
served with a master lease
agreement from American Express
Equipment Finance. Master Leases
are established to provide
flexible schedules as your
company’s equipment needs
change. Master Leases can be
established based on projected
equipment needs over a specific
period of time. <Vendor
Name> will coordinate with you
and American Express to find the
best solution for your company’s
long term needs. Please call your
Account Manager for more
information on Master Lease
agreements.
How
long can I lease the equipment?
- A
lease term is simply the number of
months you specify to lease your
equipment. American Express
Equipment Finance offers lease
terms of 12, 24, 36, 48 and 60
months.
What
are the tax benefits of leasing?
- Since
lease payments are usually made
from pre-tax dollars, they may
help your company save money and
avoid the depreciation expenses
associated with equipment
purchases. Lease terms are usually
shorter than the depreciable life
of the equipment, and may be
treated as a deductible business
expense, potentially resulting in
a tax savings. Please consult your
tax advisor for more information.
What
does Fair Market Value (FMV) mean?
- The
Fair Market Value (FMV) is
determined at the end of the lease
and is based on the market value
of the equipment at the time.
Can
a lease be terminated early?
- Leases
are a non-cancelable contract and
any decision to terminate a lease
will still require you to pay out
the remaining stream of payments
on the contract. If you are
considering ending your lease
early, please contact American
Express Equipment Finance to
discuss your options before you
make your decision.
Can I include software, freight
and warranties in my lease?
- Yes,
you can include software, freight
and warranties on your lease, as
long as it makes up less than 50%
of the total value of the lease.
You may also include software
licensing, however, this must be
via the $1 buyout lease option as
software licensing is
non-transferable.
How
do I apply?
- Simply
complete the one page American
Express Equipment Finance online
lease application. Terms and
conditions apply.
Can
I add equipment to my existing
lease later?
- Yes,
additional hardware may be added
to your current American Express
master lease subject to credit
reveiw. Your new equipment will be
added to the current lease and
your payments adjusted, or you can
simply start a new payment
schedule.
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