It’s in the Fine Print

Most organizations intend to return equipment to the leasing company at lease end. Because the company does not want the equipment back, leases contain language that prohibits easy returns without penalties and traps.

Manufacturers are continually introducing newer, faster equipment with features not available last year or last month. When the leasing company is in partnership with the manufacturer, the equipment sales rep tells the customer that the old lease debt, remaining payments or forced purchase option will vanish and the old debt will be forgiven.