Support / Frequently Asked Questions

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Equipment Financing
  How does equipment financing work?
  How much money is needed upfront?
  Is there a down payment required, other than the first installment and documentation fee?
  What type of equipment can be financed?
  What kind of payment terms are available?
  What is the interest rate available?
  How long does it take to get the financing?
  Will I own the equipment at the completion of the lease?

 


Q: How does equipment financing work?

A: Forest Financial works with various lenders to secure appropriate financing. A simple application is required for equipment purchases under $50,000. For amounts over $50,000, financial statements and tax returns may be necessary. Since we work with numerous funding sources, we try to secure the best deal available for each customer.


Q: How much money is needed upfront?

A: The first installment and the documentation fee are normally paid at closing. The leasing company pays the vendor for the equipment and the buyer takes possession of the equipment.


Q: Is there a down payment required, other than the first installment and documentation fee?

A: Up to 100% financing may be available. Payment terms are quite flexible.


Q: What type of equipment can be financed?

A: Both new and used equipment can be financed.


Q: What kind of payment terms are available?

A: Generally from three to seven years, depending on the type of equipment.


Q: What is the interest rate available?

A: A competitive interest rate applies, which varies according to market conditions.


Q: How long does it take to get the financing?

A: A commitment can usually be made within 48 hours of receipt of a completed application and any associated paperwork.


Q: Will I own the equipment at the completion of the lease?

A: Both Capital leases ($1 buyout) and Operating leases (with a fair market buyout option) are available.

Support

W. J. Cox Associates, Inc..
9600 Main St, Suite Three
Clarence, NY 14031-2093

Phone: (716) 759-9606
Fax (716) 759-9607
info@wjcox.com

Certificates of Insurance
certs@wjcox.com

Office Hours
Monday - Friday
7:30 AM -  4 PM EST