Term Rental Finance
With a Term Rental Agreement, the Financier owns the goods and you agree to rent them for a specific time period.
Upon completion of the agreed time period, you have the option to:
- Keep the goods and keep paying the same rental
- Give the goods back to the financier
- Make an offer to buy the goods from the financier at a price the determine
This form of finance is best applied to low cost business machines
For accounting purposes, you claim the rentals as an expense through your Profit & Loss Statements.
