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Frequently Asked Questions

Why lease?
Leasing is the smart way to add all types of equipment to meet the your business needs.

  • 100% financing of equipment.
  • Leasing plans are available which offer fixed payments geared to match your cash flow.
  • Access to the equipment you need without making a large down payment or impacting your available lines of credit.
  • Leasing equipment may actually cost less in after-tax dollars than an outright purchase.

Who can lease?
Any company, organization or association. SierraCities cannot lease equipment to an individual for personal use.

Is a down payment required?
Generally, only an advance lease payment or a security deposit is needed.

Can the equipment be upgraded?
Yes. One of the features of a lease is that you do not run the risk of obsolescence. As technology advances and you need change, the lease agreement can change too.

Who should sign the lease?
The lease should be signed by the majority owner(s) of the corporation, by both partners of a partnership, or by the owner of a sole proprietorship.

Is insurance necessary?
For the protection of our lessees, the equipment must be insured. Insurance can be provided by the lessee's insurance company or we can provide insurance coverage for you.

What is depreciation?
Depreciation is the amount of an asset's (equipment) cost that is deemed to have expired during the course of an accounting period (lease).

What is the monthly payment?
Please contact your sales representative to discuss an estimated monthly payment (subject to credit approval).

How do I start a lease?
Arranging an equipment lease for is fast and easy through SierraCities.

  • Select the equipment you want from the equipment supplier.
  • Complete the simple, one page lease application, then fax it back.
  • When the application is approved - usually within 24 working hours of our receiving the necessary information - SierraCities will send out the lease agreement via e-mail, overnight or fax to you for signature. All returned documents will be paid by SierraCities on our FEDEX account.

What information is generally asked for to begin a lease?
To determine the prospective lessee's ability to meet the obligations of the lease agreement, SierraCities looks at the following information:

  • Time in Business
  • Business Checking Account History
  • Trade References
  • Credit History