Coastal Software Customer Services

What is a Lease

A lease is a rental agreement with a purchase option. 
Most leases have a purchase option of either 10% of the original lease amount, or a One dollar buyout.

As a rental agreement, the cost of the lease may qualify as an ongoing business expense, and can typically be a 100% tax write-off (Be sure to check with your accountant to better understand the tax advantages leasing may provide you).

Leasing can allow you to get the equipment you need for your business with a lower initial cost, smaller monthly payments, and the potential for significant tax benefits.

Why Lease

Leasing keeps your equipment from owning your business.
Leasing is based on the principle that it's the use of equipment that generates profit, not ownership. In leasing, you pay only for that use as it is producing profit for you.

Let your working capital do what it does best. Work.
Lease payments are a regular business expense that comes out of your pre-tax income, instead of your after-tax profits. Without the large cash outlay that purchasing requires in the form of a large down payment, leasing allows you to use your working capital in more productive, high-return areas of your business. Now you can add the financial productivity of your capital to the operational productivity of your new equipment.

Make-do equipment won't do.
When there's a large capital investment in the ownership of equipment, there's a natural tendency to "make-do" with that equipment even after its usefulness has become limited. But how long can you compete in today's highly competitive marketplace with obsolete equipment? Leasing minimizes obsolescence by making it easy for you to upgrade through the addition of important peripherals, or even through a "roll-over" replacement of entire systems. We are more flexible than traditional financing sources and ready to work with you on upgrading your equipment.

The credit that doesn't affect your credit.
Leasing is an additional source of credit -- a very unique source that does not affect your established lines of credit with banks and other financial institutions. Leasing is 100% financing that can be very flexible in its terms to fit your budget needs, and actually improves your balance sheet by reducing your long-term debt. Leases structured to fit your needs. More than any other way of gaining the use of equipment, a lease can be tailored to your specific needs, financially and operationally. Payments can be arranged to fit your budget. Working capital is left intact. Your lines of credit are undisturbed. Typically your taxes can be reduced. Upgraded additions and changes to your equipment can be easily arranged. If you want to continue the use of your equipment at the termination of your lease contract, there are various ways of doing so extending the lease, rental, buying the equipment at the end of lease. The extraordinary flexibility of leasing makes these and other options possible for you.

Your payments won't go up!
While commercial loans may have a variable rate of interest, your leasing cost is a fixed monthly payment that remains the same for the life of your contract. This makes budgeting and planning much easier for you, and is also a valuable hedge against inflation.

Advantages of Leasing

Flexibility
We work with over 15 different funding sources on a regular basis, this allows us place your deal with the bank that your business credit is best suited for. By us utilizing these different banks, our good credit customers don’t pay for the customers that have had credit problems, but rest assured we have funding sources for all types of credit.

Additionally, we have seasonal leasing, skip payment program, zero down leases & technology upgrade leases available. Our motto is, if we can’t find a bank to approve it, it probably can’t be approved.

Responsive
Coastal Software issues same day lease approvals on for most businesses, and within 24 hours for start-ups and other historied credits. We will call you and let you know what is happening with your deal every step of the way. We feel that it is important to keep you informed of what is happening.

Startup Businesses
We have special lease programs designed for companies with as little as 1 day time in business. If you haven’t started your business yet, no problem, we can help! Give us a call.

Simplicity
Our lease application is one page and only takes about 5 minutes to complete for leases up to $150,000. We can do larger leases with minimal financial information.

Efficient Documentation
Once you have decided the terms that are best suited for your leasing needs, we will Federal Express our lease documents to you directly. Or if you prefer, we can fax them to speed the process up. We can usually process a lease within 48 hours for most businesses.

Starting your lease
In the typical case, your lease will not start until all equipment has been installed and you give the ok to start it. This will ensure that your equipment vendor has completed all work satisfactorily.

Personal Service
When you work with Coastal Software, you will have one point of contact. This ensures that the person you are talking to knows you and your business. Additionally, you never need to give your credit information to your equipment dealer. We work with the utmost confidentiality to protect our customers and their personal information.

How do I apply for a lease?

Applying for a lease is easy!
Contact us and a Leasing consultant will fax or e-mail one to you. Call 360-891-6174 to contact a leasing consultant and request an application.