Frequently Asked Questions

The following are some of the most often asked questions and their answers:

What is an equipment lease?
Who is leasing today?
Why lease?
What are the tax advantages of leasing?
How long does a credit decision take?
Are my lease payments fixed?
Can installation and freight charges be included as part of the lease?
When do my lease payments start?
What happens at the end of the lease?
Why should I do business with Vicom?
How do I get started with Vicom?

Should you have any questions that are not answered here, please don't hesitate to contact one of our account executives at 1-800-877-2351.

Q. WHAT IS AN EQUIPMENT LEASE?
A. An equipment lease is an alternative method of financing. You select the equipment you want, the leasing company purchases it, leases it to you for a set period of time and a fixed amount of money.

Q. WHO IS LEASING TODAY?
A. According to the Gallup Poll, 80% of US businesses lease a portion of their equipment. The following is a partial list: Manufacturers, Retailers, Hospitals, Doctors, Banks, Grocery Stores, US Government, Contractors.

Q. WHY LEASE?
A. Profits are made from using equipment, not owning it. Leasing enables you to make money with the money you save. The money you would have spent on your equipment purchase, can be used elsewhere to help your business grow and generate profits. Leasing also allows you to preserve and protect your existing lines of credit. To find out more about the advantages of leasing, click here !

Q. WHAT ARE THE TAX ADVANTAGES OF LEASING?
A.
100% tax deductible payment. Lease payments are normally treated as an operating expense under a true lease. Check with your tax accountant for details.

Q. HOW LONG DOES A CREDIT DECISION TAKE?
A. Once we have received all the necessary bank and trade information it takes approximately 24 hours.

Q. ARE MY LEASE PAYMENTS FIXED?
A. Yes, with leasing, your payment remains constant for the entire term of the lease, giving you peace of mind.

Q. CAN INSTALLATION AND FREIGHT CHARGES BE INCLUDED AS PART OF THE LEASE?
A.
Generally, yes.

Q. WHEN DO MY LEASE PAYMENTS START?
A.
Your lease starts when the equipment is delivered and you have accepted it. Your next payment will be due approximately 30 days from that date.

Q. WHAT HAPPENS AT THE END OF THE LEASE?
A.
You have three options: 1) Exercise the purchase option. 2) Return the equipment. 3) Continue to lease the equipment at the then fair market renewal rental rate.

Q. WHY SHOULD I DO BUSINESS WITH VICOM?
A.
Established in 1981, Vicom has developed a nationwide reputation as the leasing company you can count on. Our team of professionals will help you every step of the way. See our Client List

Q. HOW DO I GET STARTED WITH VICOM?
A.
Simply fill out the one page credit application, sign it and fax it to us. For larger transactions (above $100,000), we will require financial statements and tax returns.