Available Lease Plans

Capital Lease - Type of lease classified and accounted for by a lessee as a purchase and by the lessor as a sale or financing. Typically referred to as a $1.00 buyout lease.

Operating Lease - Any lease that is not a capital lease. These are generally used for short-term leases of equipment. The lessee can acquire the use of equipment for just a fraction of the useful life of the asset. Additional services such as maintenance and insurance may be provided by the lessor.

TRAC Lease - A tax-oriented lease of motor vehicles or trailers that contains a terminal residual adjustment clause and otherwise complies with the requirements of the tax laws.

Technology Rotation Lease - Allows for companies to stay up to date with technology by rotating their computers out every two to three years.

Other Lease Plans – Above are some of the more common programs, but we offer several specialized programs designed to meet the needs of growing companies. Some of these programs include but are not limited to seasonal skip payments, start up financing, skip or deferred payments. Please ask your 1st National Leasing account representative for more information on these programs.