EQUIPMENT FINANCING SPECIAL
$100 Down
6 Months at $100
Followed by 60 or 66 Months at a normal payment
Buyouts at end of lease can be $1.00, 10%
A) MAXIMUM LEVERAGE – There is nothing like controlling an income producing asset with as little as one payment or $100 down. The first 6 months can make you enough profit to potentially pay off the rest of the lease. The equipment is not a drain on your cash flow because it pays for itself from day one.
B) INVISIBILTY – Unlike bank borrowing, our lease contracts do not get reported to personal credit bureaus thereby leaving your personal credit free from your business borrowing. Because it is off balance sheet financing, it will not hurt your bank borrowing or other working capital lines of credit.
C) MAXIMUM WRITE-OFF – IRS allows up to $112,000 write-off in the first year for leases. For example, if you do a $50,000 lease in 2008 you can choose to write-off the whole lease against your other business income in 2008. Bank loans are different in that they have to be depreciated over a 5-7 year schedule depending on the equipment asset.
D) RATES – Lease rates are very close to bank rates. Sometimes leases are lower and sometimes banks are lower depending on the credit, collateral, time in business. When considering all the aspects of leasing, the benefits of leasing equipment far out weigh those of bank borrowing.
E) FLEXIBLE TERMS – Our leases can be structured to the customer’s need depending on credit. We will tailor a payment plan for a specific customer using skip payments, seasonal payments, annual, semi annual, step up and delayed payment plans, etc,.
Maximum Leverage + Invisibility + Maximum Write-offs + Great Rates + Flexible Terms = Maximum Profit
Northwest Fleet Lease Corp.
Phone: (888)-819-3149 X-215, Fax(425)-251-6258
Milt Friedley (425)-466-2881 cell
*Tax Benefit of Leasing*
IT PAY$ FOR BUSINESS OWNERS
TO KNOW ABOUT KEY LEASING BENEFITS…
IRS Section 179 and the new Job Creation
and Worker Assistance Act of 2002 Bonus Depreciation
Did you know that you can lease equipment, hardware & software and DEDUCT up to $100,000.00 from your taxable income AND claim an additional 50% BONUS DEPRECIATION (in addition to your regular depreciation), all in this calendar year?!
DEDUCT $100,000
»AND»
TAKE ANOTHER 50+% OFF!
There has NEVER been a better time to take advantage of the tax benefits of leasing! Many businesses will be eligible to DEDUCT up to $100,000 against this year’s income under IRS Section 179. Further, most of those same businesses can also claim 50% accelerated BONUS DEPRECIATION plus their regular depreciation, under the recently enhanced “Job Creation and Worker Assistance Act of 2002,” an economic stimulus package. And unlike a cash purchase where you have to spend the money to be able to deduct it, leasing allows you to LEVERAGE YOUR CASH INVESTEMENT. You only have to enter into the lease, TO CLAIM THE FULL DEDUCTION, FOR THIS TAX YEAR.
ÞDeduct $100,000 under Section 179 “off the top, “ this year
ÞClaim 50% IRS Bonus Depreciation “of the top,” this year
ÞClaim your regular IRS Depreciation this year as well
Write off $130,000 during the first year of a $150,000 lease – Here’s the math:
1) $150,000 - $100,000 (Section 179) = $50,000. 2) $50,000 - $25,000 (50% Bonus Depreciation) = $25,000. 3) $25,000 - $5,000 (e.g. 20% depreciation/5 year property) TOTAL FIRST YEAR WRITE-OFF = $130,000! And remember, you get the entire write-off even though your actual cash “out of pocket,” is only this year’s lease payments. Many businesses will be CASH FLOW POSITIVE, even after acquiring new equipment.
The “fine print:” Applicable to capital/finance ($1 Buyout type) leases, not operating leases. Leases valued at $100,000 (or more) qualify for the full $100,000 deduction.) Lease amounts under $100,000 are eligible for deductions,25% of cost for calender year 2005,2006,2007,2008, dollar-for-dollar, up to the $100,000 annual maximum. Any amounts in excess of $100,000 (annual total under Section 179) can be depreciated. At 25% of the cost of the equipment. Total cost of all eligible property cannot exceed $400,000. Deductions cannot exceed taxable income, but may be carried forward. For newly modified Bonus Depreciation, new equipment must be placed in service after 5-5-2003, and the asset must have a depreciable life of less than 20 years. For clients with stronger credit, we can also defer initial lease payment for 90-120 days for even greater leverage. IMPORTANT NOTE: Clients should consult a qualified tax professional on all tax matters.
For more information contact:
Milt Friedley at (888)-819-3149 X-215 (425)-251-6258 fax
miltf@nwfl.com
EXPRESS LEASE
CREDIT APPLICATION
Milt Friedley
18110 E. Valley Hwy
KENT, WA 98032
(425) 251-6000 X-215 (888) 819-3149 X-215 w FAX (425) 251-6258
www.nwfl.com email: miltf@nwfl.com
CREDIT APPLICATION
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q Proprietorship
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Lessee’s
Name
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q Partnership
q Corporation
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Physical
Address
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State of Incorporation
Date / /
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City, State, Zip
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Phone Number
( )
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Mailing
Address
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Cell Phone Number
( )
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Nature of
Business
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Years in
Business
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# of
Employees
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Principal Social Security Number
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* Equipment Cost
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$
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Home Address Percentage of ownership
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* Other
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$
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City, State, Zip Home Phone Number
( )
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TOTAL LEASE AMT:
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$
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Principal Social Security Number
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* If sales tax payment is required (e.g. CA, ME, NV,
NJ) rather than use tax (tax on monthly payment)
Add sales tax to above total lease base.
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Home Address Percentage of ownership
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FED TAX I.D. #
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City, State, Zip Home Phone Number
( )
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UBI Number
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Vendor Name Contact
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Phone Number
( )
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Equipment
Description
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Lease
Terms (Mo.)
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Bank Reference: Account
Name & Branch Officer
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Phone Number
( )
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City, State, Zip Checking Account Number
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Trade References (Name, Address, Telephone Numbers, Account Numbers)
1. (Landlord)
2.
3.
4.
Insurance Information (Name, Address, Telephone Number, Policy Number)
1.
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RELEASE: We have answered the questions in this application fully and truthfully. We understand that you or your lender may check our credit records and any statement we have made. We give all of our creditors permission to give to you or your lender any information you or your lender need to determine whether you wish to grant credit to us. We also grant permission to you or your lender to provide to credit reporting agencies and other creditors information relating to us. I authorize all deposits and borrowing information to be released by telephone or fax.
SIGNATURE TITLE __________________ DATE ____________
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Rev 4/08
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Northwest Fleet Lease Corp
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If you are applying for joint credit with someone other than your spouse.
Your co-applicant must complete a separate application.
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Tell Us About Yourself
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FULL NAME
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SOCIAL SECURITY NUMBER
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OTHER NAMES IN WHICH CREDIT HAS BEEN GRANTED
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DATE OF BIRTH
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STREET ADDRESS CITY STATE ZIP
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YRS. THERE
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# OF DEPENDENTS
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HOME PHONE
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PREVIOUS ADDRESS |
