Following are questions we would ask if considering financing …

Q:  How much is the payment?  This does not usually include tax.

Q:  What is the term / how many payments?  Generally 12-60 months

Q:  How many payments in advance?  Usually one or two – sometimes
(especially for new companies) a down payment of 10% of cost + 1 payment in advance.

Q:  Are there any other fees?  $200 is common as a document fee – sometimes a little less
– titled vehicles could have as much as $500 in associated fees

Q:  What happens at the end of the term?
$1.00 buyout is most common (you own the equipment after making the final payment)
10% purchase option (10% of original cost is paid at end of term) – sometimes called a PUT
for “payment upon termination” which is not always optional.

FMV or Fair Market Value – these create most frustration at end of term because
the future value is not predetermined – we rarely offer this option.

KMC can offer up to 30% residuals on some equipment – the higher residual
reduces monthly payments, but increases total cost.