By Phone:
Tel. (800) 322-9738
Fax (800) 864-0082
By Email:
General Inquiries
[email protected]
Employment
[email protected]
Corporate Headquarters:
222 N PCH, Suite 675
El Segundo, CA 90245
Equipment Leasing Questions and Answers
Learn more about the structure and end of term options for our more popular equipment leasing programs.
How long does the equipment financing process take?
Requests for up to $150,000 will be approved within two hours after receiving a one-page credit application. Documents will be sent over-night, hand-delivered, or e-mailed to the customer, and a Purchase Order is immediately faxed to the vendor once signed documents have been received.
Can you lease or finance used equipment?
Yes. We finance all types of new and used equipment.
What happens at the end of the lease term?
There are a variety of end of term options available to you. These include Fair Market Value, $1.00 Buyout and other Fixed Purchase Options.
Fair Market Value (FMV)
This plan is particularly beneficial to those concerned with technological obsolescence. Our Fair Market Value lease is designed for our customers who expect the value of their equipment to decrease quickly, or will want to upgrade their equipment at the end of the lease. At the end of a FMV lease, the lessee has three options: extend the term of the lease, return the equipment, or buy it at its fair market value. With this lease, you generally have lower monthly payments and you can write off 100% of your payments as an operating expense. Please consult your accountant about the tax treatment for your company.
$1 Buyout
This option is for those who are fairly certain that their equipment will retain its value. Therefore, they plan to purchase the equipment at the end of the lease. When the lease term expires, you can simply purchase the equipment for a $1 (or $101 depending on your state’s tax laws).
10% Purchase Option
For those who like the flexibility of the option to return the equipment or purchase it at the end of lease, but want to cap their equipment buyout at a certain percent of the equipment cost, this is the option for you.
What is the interest rate on the equipment lease?
Although a lease is not a principal and interest loan, rates are based on credit history, time in business, equipment cost, lease term and structure.
Can the equipment lease be paid off early?
Will my commercial lease payments be tax deductible?
The IRS will generally allow you to write off 100% of your lease payment if the lease has been structured properly. We always recommend consulting with your tax advisor.
Will the lease payments be fixed for the entire term?
What is the minimum size lease transaction?
How long do we have to be in business?
Taycor has a new business program for those companies who have been in business for less than two years. However, most of our leasing programs require a minimum of two years time in business.
How much of a down payment is required on the equipment?
Leasing provides 100% financing. Although custom tailored payment plans are available, Taycor typically requires the first and last payment in advance when lease documents are signed.