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Lease Programs

Leasing may be defined as “a rental agreement between two parties (the lessor and the lessee) for a specific period of time at a specific rate or payment”. Put simply, NorthTexas Credit buys the equipment. You rent it from us for a specific payment and time period. At the end of that time, you can usually choose to own the equipment for a given fee. Alternatively, you can lease or buy new state of the art equipment, having gotten your usage from the now old equipment you originally leased. NorthTexas Credit offers flexible payment plans for almost any type of equipment that you are considering.

At NorthTexas we can structure a lease through a number of flexible options including:

Fair Market Value (True Lease)

For those worried about obsolescence, this plan offers the most options both during and at the end of the lease In addition, this plan is particularly beneficial to those wanting to have both a small security deposit and a relatively low monthly payment. At the end of the lease term, the lessee has the option to extend the term of the lease, return the equipment, or buy it at its fair market value. NTC also offers financing for those wishing to buy the equipment at lease end. A True Lease allows the most cost to be deferred to the end of the lease, when a decision to retain or upgrade the equipment can be made.

New Business Plan

We’ve developed a plan especially for new businesses that helps young companies acquire equipment they need. Businesses that are just opening may qualify. Municipal Program: This program is designed to aid departments, agencies and institutions supported by a state, city, commonwealth, county, parish or other forms of recognized government in acquiring capital equipment. Master Lease: A master lease agreement allows for easy add-on schedules of equipment for the duration of the lease term. Payments are adjusted to meet the addition.

Security Deposit Plan

This program offers the lowest monthly payment, and may therefore be especially attractive to those who can afford a security deposit of 10% of the equipment price. End-of-Lease options still apply; the deposit can be applied to the purchase price of the equipment; the lease can be extended, or the equipment can be returned, and the deposit refunded.

$1.00 Buy-Out

For those who are fairly certain they wish to purchase the equipment at the end of the lease term, this is the recommended plan. At the end of the lease term, the equipment is simply purchased for $1.00. This plan is not available in all states.

10% Purchase Option Plan

This plan offers the lessee a fixed purchase option at the end of the lease. At lease end, the customer can extend the term of the lease, return the equipment or buy it at 10% of the original equipment cost.

Skipped Payment Lease

This type of lease agreement requires the lessee to make payments only during certain months or periods each year, to meet seasonal needs or other cash flow constraints.

Step Lease

Step leases allow lease payments to either increase (Step-up) or decrease (Step-down) over the term of the lease to better meet unique cash flow needs.

Used Equipment Program

NTC will normally finance used equipment, which meets certain guidelines. An equipment condition report is normally required that describes the equipment condition and its age.

Deferred Payment Lease

Deferred Payment Lease is a lease that contains a 30, 60, or 90-day deferment of the first monthly payment.

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