Vendors
Q. What lease terms are available?
A. Standard lease terms are 24, 36, 48, and 60 months. Non-standard terms such as may also be quoted.
Q. What end-of-lease options are available?
A. Typically standard purchase options are $1.00, or 10%. Other options may be quoted in special situations.
Q. What type of equipment may be leased?
A. All types of equipment will be considered except titled vehicles.
Q. Who can lease?
A. Any commercial business or governmental agency
Q. How much money has to be paid up front?
A. Leases can be structured with no advance payment or security deposit; however the normal requirement is a security deposit equal to two regular payments.
Q. What happens to the security deposit?
A. The security deposit can be applied toward the purchase of the equipment at lease-end or returned to the lessee with return of the equipment.
Q. How long does it take to render a credit decision?
A. Most applications are processed within two - four hours.
Q. Who does the documents?
A. We overnight a complete document package to you or the customer.
Q. How will I be paid?
A. We can fund via check or by Electronic Funds Transfer.
Q. When will I be paid?
A. Following receipt of all documents including the acceptance and delivery and/or installation of the equipment, we will complete a telephone confirmation with the lessee and will fund the transaction within 24 hours.
Q. Does the lease document provide information about the lessee’s purchase option?
A. Yes, the purchase option is prominently displayed on the front of the lease agreement with details on how to exercise the option in the body of the agreement.
Q. Can the equipment be purchased before the end of the lease term?
A. Yes, lessee must submit a request directly to CM Financial.
Q. Does CM charge late fees?
A. We allow a 10 day grace period after the payment due date for payments to be received without a late fee being assessed. If a payment is received after the grace period a late fee will be assessed according to the terms of the lease contract.
Do you have additional questions?
Please contact us at (800) 930-8899 or send an email to info@cmfinancial.com
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