Finalising Your Logging Equipment Lease
Throughout the fixed lease term, you make your fixed monthly payments as agreed. When all these payments are finalised, at the end of the lease term, it’s time to finalise the lease and take ownership of the equipment from the lender.
- The actual amount you will be required to pay to the lender, will depend on the purchase price that you first paid for the equipment and be in line with the ATO’s Residual Value Guidelines.
When the time comes to finalise your lease, you can discuss the options with our consultants:-
- Pay the amount owed from your existing business funds.
- If the equipment has reached it’s used by date for your operation, you may consider making the payout and selling the equipment so you can replace it with a newer version.
- If you don’t want to use your existing cash to pay the residual, speak with our consultants about arranging a new loan deal for that amount.
Whichever way you go, once all payments are finalised, you take ownership of the logging equipment.
For more information on finalising an equipment lease, please contact us and our consultants will answer all your questions.