Things To Watch Out For
- Return of Asset Conditions. If
you choose to return the asset at the end of your
lease, the condition in which and the place where
it must be returned are important aspects to consider
carefully.
- Notice Period. If your lease includes
the option to renew take note of any time periods
in which to give notice in case you do not want to
renew the contract. Some leasing companies will automatically
renew the contract if you fail to give notice.
- Purchase Rights. If negotiating
the right to purchase the asset at the end of your
lease, a predetermined fixed price offers more value
as the 'fair market value', which theoretically is
always available to you.
- Maintenance Responsibility. Clarify
which service and maintenance programs are included
in the lease. If you are responsible for service and
maintenance, make sure you do not have to provide
an unreasonably high degree of it.
Also check out our Disadvantages
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Asset
Financing Guide
