Rochester Equipment Leasing Call Us Toll Free: 800-388-3430
TEL: 585-231-1550, FAX: 585-231-1561


1) What’s the lease process ?
The one page application is completed, signed and faxed (mailed or e-mailed) to ROCHESTER EQUIPMENT LEASING. Normal turnaround time for a credit decision is 24 hours (or less) depending upon bank response. In some situations, additional financial information may be required. Once an approval is granted and the customer accepts the terms, documents are sent via overnight courier for signature. The completed documents and advance payment check are returned via prepaid overnight courier to ROCHESTER LEASING. Once received, we issue a purchase order to the vendor who is paid upon delivery and verbal acceptance by the customer.

2) What happens at the end of the lease ?
That depends on the type of lease. Some leases have a $1.00 Purchase Option or a guaranteed purchase for a specified amount (usually 10%). In either of these cases, the lessee owns the equipment at the end of the lease for a specified amount. For Fair Market Value leases, the lessee has the option of keeping the equipment by paying the appraised amount (generally 10%) or returning the equipment to the lessor. The appraised amount is often negotiable.

3) Are my monthly rental payments tax deductible ?
Fair Market Value leases may sometimes be tax deductible allowing for the full payment to be written off as an expense. Section 179 has allowed $1.00 leases to be expensed in some cases. In all instances, we recommend that you consult with your tax advisor for advice on how to expense your lease.

4) Who do I turn to for warranty service ?
The vendor (or original supplier) will provide all warranty service; the leasing company is not
responsible. The warranty is handled just as if the equipment was paid for directly by the lessee.

5) What interest rate am I paying ?
There is no interest attached to the lease, as it is a rental agreement. If you are looking at the difference between the equipment cost and the total of the monthly payments as "interest", then this varies with the term, cost and lease type (residual structure).

6) What if I have more than one supplier?
This occurs quite often and presents no problem. You can have multiple suppliers on one lease. This is often referred to as a Master Lease.

7) When do my lease payments start ?
Generally, after making your initial lease payment at closing, your next lease payment is due 30 days after the lease is funded (or when your supplier is paid).