There are three main types of leases: 10% purchase option, $1.00 purchase option, and fair market value. The terms available range from 12 to 84 months.

10% Purchase Option
At the end of the lease you have the option to purchase the equipment for 10% of the original price of the equipment (similar to a balloon payment) or return the equipment to the leasing company. Equipment that you would have a 10% purchase option would be high tech equipment, and lasers. This is the most popular end of the lease option for technology as often times the equipment may become outdated. By utilizing the 10% lease option, you have the option to decide at the end of the lease agreement whether to purchase the equipment for 10% the original price or return it back to the finance company.

$1.00 Purchase Option
At the end of the lease you own the equipment. Equipment you wish to own such as chairs, cabinets, lights, and medical operatory equipment, a $1.00 purchase option at the end of the lease is a method of transferring the equipment to the lessee.

Fair Market Value
This program offers you the lowest monthly payment throughout the term of the lease and gives you an option to purchase the equipment for its fair market value, or return the equipment at the end of the lease to the leasing company. The fair market value is determined by the finance company and is often somewhat negotiable. Any computer hardware equipment would typically be placed on a Fair Market Value lease.

Healthcare Finance Services can help you understand the financing options that meet your needs. We can develop a payment and lease term that allows you to decide what will work for you, not the company you are buying the equipment from.