|Many cities, counties, schools, fire districts and volunteer departments are faced with the pressure that occurs when demands for their services outpace their financial resources. To cope with this problem, many political subdivisions are now turning to a financial alternative that has long been recognized as a source of funding for large capital expenditures.
Developing a lease purchase plan with your lease representative is attractive because it offers your customers a number of advantages, such as:
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- Eliminates the need for large, up-front cash outlays.
- Allows customers to eliminate the financial and operational challenge of keeping worn-out or obsolete equipment in service.
- Provides customers a quick, professional & cost effective choice in their financing options.
- Allows for greater budget flexibility because these plans can be tailored to fit the cash flow requirements of each individual customer.
- Provides for immediate use of the equipment with fixed, manageable payments.
- Eliminates the need for voter approval (municipal entities only and in most states).
- Enables state and local governments to take advantage of low interest rates available to qualified political subdivisions.
- Allows a customer to purchase equipment at today's prices, not next year's increase.
- Maximizes limited budget funds, as only the current years lease payments are included in the operating budget (municipal entities only).
- Our standard non-appropriation clause allows governmental entities to be released from the lease obligation on an annual basis if funds are not budgeted.
- Frees up additional capital for other pressing needs.