What is an Equipment Lease?

An equipment lease is a contract between a lessor (Sound Leasing) and lessee for the use of a specified piece of equipment for a designated period of time in return for a series of agreed upon payments. At the end of that lease period arrangements are made as to the disposition of the equipment.

From your point of view, equipment needed by your company is purchased by us from your selected vendor or our group of preferred vendors. Upon the delivery of the equipment to your designated place of business your firm will begin to pay the agreed upon monthly fee for the use of the equipment. During the lease term Sound Leasing retains the rights to the title and interest to the equipment. Once the lease period has ended, the lease can be renewed, equipment returned, or bought by you at pre-agreed terms and conditions.