Frequently Asked Questions

What types of equipment can I lease? From whom is it ordered?
We can finance almost any capital equipment. You choose your own equipment vendor and when you have decided on the equipment, we will finance 100% of the asset.

How long does it take to be approved? When do payments begin?
Your simple lease application will usually be approved within 24 hours.  After the lease is signed, a purchase order for the exact equipment that you have selected is issued. Upon verified delivery and acceptance of your equipment, the invoice is paid and your lease begins.

Are there application fees?
No, unlike many lending institutions, there is no application fee. We require a documentation fee, only when the transaction has been approved and you have requested lease documents.

What are the options at the end of the lease?
The Lessee may purchase the equipment for its purchase option amount, continue to lease, or return the equipment with no further obligation; this is determined before the lease begins.

What purchase options are available? Which is my best choice?
We offer purchase options to meet your needs: a $1.00 purchase option (which is treated as a purchase); a fixed percentage option (our most popular is 10%) or Fair Market Value option. The best option for you can be determined after a brief conversation.

What about equipment obsolescence? Can I upgrade or add-on?
Upgrading and adding-on equipment are everyday occurrences on leases. Your original lease can be amended, or a new lease can be structured at the time of the new acquisition. We want a long-term relationship that satisfies all of your needs.

What is the interest rate on a lease?
The amounts charged on an equipment lease are calculated using monthly "lease rates", rather than by using a compound interest rate method that is normally associated with conventional loans.  Lease rates are based on the term of the lease, the lessee's credit standing (both business and personal), and the type of equipment being leased.  The stronger and more established your business, the lower your payment should be. 

May the equipment be returned at anytime?
No, the lease is a non-cancelable agreement for a specified term that you select at the beginning of the lease. Leases are available for terms ranging from 24 to 60 months (depending on equipment type), and the equipment can be upgraded or more equipment can be added.

Who is responsible for taxes?
Because we offer a "net" lease, the end user/lessee is responsible for all taxes. We are required by law to collect all applicable sales and use taxes and remit them to each state.

Who insures the equipment?
The End-User Lessee is responsible for insuring the equipment against risk of loss including property and casualty coverage and liability. Lessees typically just add the equipment to their existing policy.

Who provides warranty coverage on the equipment?
Infinity Leasing passes through all manufacturer warranty coverage to the lessee. Warranty claims are processed for the lessee in the same way they would be if the lessee were the owner of the equipment.

May non-equipment items such as software and maintenance be included?
Yes. One of the many benefits of leasing includes the ability to "bundle" a number of equipment items into a lease including software, service and support costs. This way, a lessee can make one simple monthly payment for an entire system or equipment line. There are some restrictions on the amount of software and maintenance that may be included in certain leases.