BEWARE OF LEASE AGREEMENTS BY MERCHANT SERVICE PROVIDERS! Lease Agreements You Can Never Cancel. “Why rent when you can own?” We hear it all the time.
But here is the catch… Instead of selling you a terminal at a fair sale price, they will lock you into a 60-month leasing agreement. Not to mention a 25% buy-out clause and a high-interest rate. By the time you’re done with your lease, you paid thousands of dollars for a terminal worth a few hundred.
Why are equipment leases so common? Because those processors get a very large up-front commission from the leasing company. So leases are in their best interest, not yours. Watch the bigger bank names. These tend to happen from them in our area. If you’re stuck or considering one of these lease agreements send us a message at email@example.com