Financing
How do you lease salon equipment?
Customer completes one-page application. When approved, we issue a written proposal spelling out financing options.
Upon your acceptance of our proposal, a lease agreement is prepared for your signature. After equipment is delivered, you will be billed for monthly payments.
Is a down payment required?
Leasing company does not require a down payment – usually just first and last lease payment when lease is signed.
Is a deposit required?
A deposit is required by Peel’s when your order is placed. The leasing company can, in some cases provide this deposit for you. If you prefer, you can make the deposit yourself and once the equipment is delivered and accepted by you, vendor will refund your deposit.
How are lease charges determined?
The monthly payment is based on the term of the lease, the cost of the equipment and the overall credit rating of the business and the owners.
What factors are used to determine credit worthiness?
Length of time in business, references from financial institutions and credit bureau rating.
What about sales or use tax?
All applicable taxes will be included in the lease payment.
Can equipment be purchased at the end of the lease?
Yes. Most salon owners prefer $1.00 buyout leases (you own the equipment at the end of the lease).
Can the lease be canceled?
Usually no, but the lease may be paid off early. However, you are obligated for the lease term you choose.
Who services or maintains the equipment?
The lessee is responsible for maintenance and receives the benefits of all buyer warranties.
What effect does leasing have on the lessee’s credit cards?
Credit cards or established bank lines are unaffected and can be better maintained for day-to-day working capital / personal needs.
Why Lease?
Leasing offers 100% financing.
- No financials or tax returns.
- No down payment required.
- Possible tax advantages.
- Pay for equipment as it is used to generate income.
- New salons, too!
Link to lease application https://beneficialcapital.com/beneficialcapital.com/application/BCL%20App.html
