Our staff is experienced in all aspects of municipal leasing making leasing simple and convenient,
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Reasons to consider a lease with Canon Equipment Finance:
- Low cost, Municipal fixed rate financing
- Non-appropriation clause
- No hidden fees or costs
- You control your bid process
- Flexible lease purchase programs
- No prepayment penalty
Leasing enables municipalities to enhance their cash flow by spreading the cost of equipment over several fiscal periods. This allows both current and future taxpayers to pay the cost, thus stretching tax dollars. Leasing also provides a hedge against inflation. Equipment purchased at today’s prices can be budgeted in less-valuable future dollars over the term of the lease. For virtually any kind of equipment, leasing makes sense. In fact, it’s the most frequently used method of equipment financing in the United States.
Municipal Lease/ Purchase with $1 Buy-Out Lease
The lease is structured so the lessee can purchase the equipment at the end of term for $1. It provides the benefit of a loan (ownership) with the advantage of a lease (lower payments). Typical lease terms are 12-63 months.
A Municipal Lease is a tax-exempt financing vehicle designed to meet the special needs of state and local municipalities. These entities include School Districts, Police and Fire Departments, State and County Governments, Water Districts, Transit Authorities, Hospitals, and any other organization that can incur debt where the interest paid is exempt from federal income taxes.
- Flexible Financing such as one annual payment, semi-annual payments or quarterly
- Same as cash up to 180 days
- 30-60-90 DAY DEFERRED PAYMENT PROGRAMS have no advance payment required, for the customer who has a reason to delay the start of monthly payments
- Tailor to own now and pay off when Funding becomes available
Municipal Lease is ideal for organizations like schools who keep their equipment for a longer period of time. These programs provide fixed ownership at the end of the lease and virtually any type of equipment can be put under this type of lease. The $1 Buyout/Municipal Lease provides Schools and Municipalities with the ability to acquire their much needed equipment today, while spreading out the cost over multiple fiscal years. So you are truly paying for the equipment, as you use it, rather than up-front. This makes budgeting and fiscal planning easier for Administration.