# leasing



## mainly2 (Jan 24, 2013)

Can anyone recommend a leasing company?


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## missswissinc (Feb 21, 2012)

well here is one that is going to the ISS Show in atlantic city. The company name is Geneva capital LLC. I never used them but checked their website and they give you details about the process of getting financing to lease equipment. 

Now my only question is have you checked your credit score?. If you have and your score is great then you shouldn't have an issue. But, If your credit score is not that great do you have someone who is willing to help you get the lease financing. Believe me I had to get a family member to sign for a credit loan for a machine. Granted it wasn't like $20,000 I needed but it was for $5,600 spread out for 4 yrs intrest free. Now I know my score is low and I was like well I know I will need someone to help out and that person did and now I'm in debt to that person because if I FU then that person also pays for that in that their credit score goes down and what does that due to them if they wanted to get a loan. I wish you the best and hope you get the equipment you need with the leasing.


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## binki (Jul 16, 2006)

beacon funding Beacon Funding - Equipment Financing Solutions


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## NeonTees (Apr 25, 2010)

Many times the equipment seller has partnered with a lender. That can help the process along a little because the leasing company will understand the equipment being leased. 


Sent from my iPhone using TShirtForums app


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## fdsales (Jul 1, 2007)

Leasing is just another form of financing, but usually at a higher interest rate than a bank loan, but generally offers a lower down payment (usually first & last monthly payments), and different lease end terms (either a $1 buy out, or 10% of equipment value). Also, deprecation for income tax purposes is different for a lease, vs bank loan, but remember, you're still obligated to pay out the entire term of the lease, just like a bank loan. The leasing company will retain title (ownership) of the equipment until lease is paid. Finally, in most states, your lease payment is TAXABLE for sales tax. Read ALL the terms in the lease.


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## Reprizent (Nov 15, 2012)

I actually work for the equipment lease division of a bank (just got into printing about two years ago.) It's First National Bank of PA, the lease office is FNB Commercial Leasing (https://www.fnb-online.com/corporate/fnbcommercialleasing.aspx). If you're still looking for help with a lease give us a call at 800-278-6259 or just shoot me a private message. My name is Gary.


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## secretagent81 (Mar 1, 2013)

I have leased with Geneva Capital. The contract is extremely tight and puts the customer at its mercy if anything goes wrong. When you buy with a credit card, you at least get the consumer protections of the card. 
Some of the high points:
When the lease terminates, you had better give them 30 days notice prior to the end of term that you intend to terminate the lease or else you have to pay rent monthly. The amount of rent is not specified, so it's whatever they come up with.
They get to charge you property tax in MN for the equipment (they are the owners). They will charge you $90 admin charge plus any profit on the tax they want because they lease allows them to make profit on it and does not specify any limit on it.
You give up jury trial for any court battles.
All court action is useless because its in their court with a judge they see all the time. Even if you have a legit issue, you have to hire someone to represent you in MN court. 
If the equipment does not work...not their problem. It can utter fail to do anything promised and they couldn't care less. Pay me. What? the vendor does not honor warranty like they said, screw you, pay me.
Late fees are 15% of normal payment. If you make payments in advance, like say 5 months worth, but do not specify in writing that these are advance payments, they take it off the end of the lease....you still owe next month! And it better be in writing because arranging it by phone did not work for me....the women had amnesia about it. I was way ahead in payments but "in default."
Recommend that any arrangements you make you do in writing and send certified mail/return receipt.
The lease says any changes must be done in writing. BUt in fact, they make changes on the fly when it is convenient for them, but if it's something that helps you--if it's not in writing you lose.
I made a settlement arrangement to finish paying off the entire lease. Did it on email, then as soon as I sent the initial big payment of over $12k, their lawyer called and said "its not an arrangement until it gets in writing". I stuck to my guns because we did have a deal on email, with a payment sent and accepted. So ultimately my final arrangement was far better for me because in order to get it on paper, I was able to negotiate long grace periods on the payment plan. But not everyone can stand toe to toe with a lawyer.
Bottom line: This company is ruthless and to be avoided in my opinion. I negotiate contracts for a living with companies like AT&T, Verizon, Bank of America, and JP Morgan Chase among others. Any of them I would be happier to be in business with than Geneva.
If you want any help concerning Geneva Capital and their methods, please IM me. Let me help you decide NOT to use them.


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## beanie357 (Mar 27, 2011)

Leasing has pros and cons.
You need to read the documents and calculate costs before a contract like this. Boring, but a needed part of business.

If you are credit impinged, have no assets, no strong income stream, it may be you should not go into business at this point. Leasing companies overlook a lot of things, but if your house is not in order, going out on a limb may not be wise.

Traditional local banks still loan. If you are in good financial shape, traditional loans tend to work better. If you give up, plan does not work, sell the equipment, pay the loan, and move on. Also, look and find the used price of what you are buying before you buy. That will give you the amount you should put down, and still be able to get out if things do not work out.


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## fdsales (Jul 1, 2007)

I have to agree w/ secretagent81; we used leasing one time on an embroidery machine, the orginial lease company sold the lease, and one of the paments we made did not get credited, and had to pay 1 extra payment of $1,000 to the new company that purchased the lease, in order that we could get clear title so sell the machine. Also, some states allow the lease payments to be taxed, so you pay double tax on the equipment at the time of the lease, and then every month on the lease payment itself.
Bottom line is if you can avoid leasing, do so, try to go thru your local community bank, or a credit union. Use leasing as only as LAST resort, and read & UNDERSTAND all the fine print in their contract.


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## secretagent81 (Mar 1, 2013)

Hello everyone on T-shirt forum!
In the continuing story of how deceitful and petty people can ruin your day, here is another chapter in my ongoing relationship with Geveva Capital LLC:
Having a disagreement with Geneva whereby they claimed I was in default of my lease, and I said I was way ahead of payments scheduled, I was able to negotiate a SETTLEMENT with them whereby they would accept a lump sum payment of $12k, then payments of $500 for a few months, and a final payment of $12.8k to end the lease. 
The offer was made to me, I accepted on email. The next day I paid the $12k and the day after that their lawyer called to say “wait we have to put this in writing with a bunch of conditions.” I called BS on that because I had an agreement. Still, even though they were being complete *****, I was ultimately able to negotiate some terms in their for myself: Namely, I was able to get a grace period added to the payment schedule and also get a promise that after making all payments I would have ownership of the equipment.
I made all payments on time, and made the final payment a month early. I made a demand for a bill of sale and now they are saying I need to pay property tax they did not include on the settlement of $400. Nickel and dime mother f$%^&*s!
They have received over 100% of the value of the original lease and 15 month FASTER than the original terms. Yet they still want to hold back the bill of sale for TAXES for the rest of the year in which they will not even have the equipment!
These people are the worst in my opinion. Stay far away from them.


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## fdsales (Jul 1, 2007)

I understand your frustration, and not to defend this leasing company, but the state & county want their property tax on the equipment, wheter it's paid outright by you, or included in the lease payment, but because the leasing company shows on the state's books that they own the equipment, your state/county will go back on them, not you, for the property tax. That's most likely why they held up the bill of sale. It can be a real shocker at the end of a 60 month lease when a 5 year back invoice for property tax is presented to you.
Some leasing companies will pay each year, then send you a bill for the property tax, just varies from state to state.
However, my opinion, leasing should be avoided unless as a last resort when all other finance methods are exhausted; just too many pitfalls and traps.


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## secretagent81 (Mar 1, 2013)

fdsales said:


> I understand your frustration, and not to defend this leasing company, but the state & county want their property tax on the equipment, wheter it's paid outright by you, or included in the lease payment, but because the leasing company shows on the state's books that they own the equipment, your state/county will go back on them, not you, for the property tax. That's most likely why they held up the bill of sale. It can be a real shocker at the end of a 60 month lease when a 5 year back invoice for property tax is presented to you.
> Some leasing companies will pay each year, then send you a bill for the property tax, just varies from state to state.
> However, my opinion, leasing should be avoided unless as a last resort when all other finance methods are exhausted; just too many pitfalls and traps.


I get that, but they had a chance to put that tax within the settlement amount owed. I would have no issue with that. But they do not get to add it later. Also, they are not going to have to pay tax for 12 months of having the property, only 2 months. The real issue is that they are petty people. I am paying the property tax in my state for the last 10 months of the year. They know they will not actually have to pay the money they are trying to collect.


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## secretagent81 (Mar 1, 2013)

OK, they gave me what I wanted. Dropped the tax and abided by the settlement. PLenty of excuses being made. Sloppy communication in my opinion, but it's over. Good riddance.


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## CanarianDrifter (Sep 12, 2012)

Can't recommend one but can warn you about one. Worst experience ever in my 20 years dealing with leasing. Marlin Leasing, so bad they had to change their name to Marlin Leasing Bank. Google it and you'll find out about this company's modus operand um. Save yourself a lot of aggravation, if you can finance through a bank do it. Never lease 10% market value, they will lie about buying options. Always a $1 buyout.

CD


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## taknchances (Oct 3, 2013)

Are you still with this company?

Thanks


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## CanarianDrifter (Sep 12, 2012)

I am not and never again. I financed last September a new Mutoh. The leasing agent sent me the application for Marlin Leasing. Right away I called her and told of my experience with them. She couldn't believe it. She knew something was aloof but never this bad. I told her unless she finds me another underwriter I will check someplace else. She came up with Navitas. Although I read a few things about them it was not related to shadowy schemes.

Their rates a little better. And with any lease, if you don't pay on time late fees are applied. I don't have a problem with that. The problem is Marlin creates this fictitious payment arrival date and hooks you up for a late payment. This happened multiple times. If you try to dispute it their customer service will blow you off and harass you by phone, faxes at least once or twice a day. If you make payments toward the lease because you are disputing the late fees, they apply the payment to the late fee resulting in another fee for not paying the full amount of the lease. A vicious cycle and a nightmare. Another thing, they will send you a notice, and only one 6 months before the lease is over letting you know that if you want to purchase the equipment you have to let them know 90 days in advance. I sent a certified letter, next day delivery because low and behold, and this is something they are counting on, two days before their deadline. Guess what? Never received on time, they received the next day so they added another 12 months to the lease automatically. No chances to dispute it. They are horrible.

I just financed another piece of equipment. After looking for a leasing company, although Navitas had me approved for it, I contacted Discover card. Better rates, no application fee, no first and last payment and best of all no penalties for paying earlier. Moreover you can refinance with another bank or leasing company or just payoff you loan with no fees whatsoever.

Leasing companies serves a purpose and an honest one can be invaluable in terms of having the equipment you need without disbursing a lot of capital compared to if you purchase instead. But be aware that not all the leasing companies are created equal. Some are more lenient than others. Their terms can also differ. If you can finance through a bank (a lot of paper work and financial disclosures) or with a fixed term loan from your credit card, that would be a better way to go.

there are lots of companies that are in reality thiefs, crooked and acting like shark lenders out there. Like the saying goes... Caveat Emptor. Buyer Beware.

Good luck!!!

CD


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## taknchances (Oct 3, 2013)

Thank you so much for that information. 

Beacon Financial, heard anything on them? I understand there is no penalty for early payoff, again, thats what they say?

You Discover card, did you do a business card?

Thanks


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