Leasing Fundamentals
An equipment lease is a contractual agreement permitting a firm or individual (the Lessee) the right to use a piece of machinery or equipment owned by another party (the Lessor) for a fixed period of time. The Lessee pays rental charges to the owner of the asset in exchange for this right. The Lessee substitutes the cost of the rental payments for the depreciation, interest expenses, and other charges normally associated with ownership of the asset.
Individuals, professionals, government agencies, organizations and businesses of every size lease. Anyone with an ongoing requirement for capital equipment may be a potential candidate for leasing. Virtually anything can be leased although firms tend to lease assets that provide either a production or support function for their venture. Leasing is especially practical when the asset will provide a financial benefit to the enterprise, either through increased efficiencies and reduced expenses, or the generation of additional sources of revenue.
Examples of goods commonly leased include office equipment, computers, construction and manufacturing equipment, industrial equipment and tools, and vehicles of every description.
Westport Leasing Corporation
11198 - 84th Avenue Box 33026
Delta, B.C. CANADA V4C 2L7
Phone: (604) 681-1260 | Fax: (604) 681-1680