Lease Options

At FirstCorp, a dedicated leasing specialist to works with you side-by-side to align a leasing solution that meets our customer's needs. Together, we develop a leasing solution that works most effectively.

Your FirstCorp representative will provide guidance in selecting one of the following:

$1 Purchase Option Lease
For businesses looking to own new technology or equipment, we offer a $1.00 purchase option lease. Lessees choosing this option may treat the lease as a capital purchase and deduct depreciation and interest costs for tax purposes.

10% Purchase Option Lease
For businesses wanting the features of a $1.00 purchase option lease but desire the lowest payment, the 10% purchase option lease is the right choice. The lease includes a fixed cost at the end of the lease equal to 10% of the original acquisition price, which results in a lower payment. At the end of the lease, lessees may 1) purchase the equipment, 2) renew the lease, or 3) upgrade to new equipment.

Fair Market Value Lease
Also known as a "true" lease, this option is ideal for businesses that want to pay only for the use of equipment, not owning it. Fair market value, or "FMV," leases may also provide important tax benefits over other alternatives. Plus, monthly payments with an FMV lease are lower than fixed buyout leases.

Lease Terms
While standard lease terms are usually 24 or 36 months, terms of 60 months or longer are available. Your FirstCorp consultant will custom-build your lease to meet your specific requirements.

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