Yes, our leases are between 2-5 years long, making the minimum lease term 24-months.
It depends on the machine you’re interested in and how long you’d like to use it for. Contact us and we can walk you through our pricing.
No, we do not hold any inventory. Instead, we source the equipment of your choice once you're approved for a lease.
No, but we do require a deposit, which is returned to you at the end of the term. The only other potential fee is the software license, but not all manufacturers require it.
We typically finish instrument and financial diligence within a few days. Comparatively, other financial institutions can take upwards of 3 months or more.
Nope. We will cover corrective repair costs in the case of unexpected breakdowns as well as any necessary equipment maintenance, minimizing instrument downtime. However, we cannot cover repairs due to user negligence.
We’re sorry to say that we don’t offer any rentals under two years. If you’re on the fence about how long you want to rent for, learn more about the differences of short-term vs. long-term rentals.
You’ve got options. You can either renew at a discounted rate, cost-effectively purchase the equipment, or conclude the lease. If you conclude the lease, we will pick up the instrument free of charge.
We don’t require or impose any of the aforementioned. Our goal is to maximize your flexibility as a company. When you lease with us, you’re collaborating with a true business partner, so you can get the equipment you need without sacrificing what matters most.
It depends on the type of equipment. In general, we can source almost any instrument used in the lab for research and development. The list of equipment on our leasing page includes examples of instruments we currently lease. Let us know your needs and we can try to accommodate your request.
An operating lease allows your payments toward it to be considered a part of your company’s operating expenses. Instead of listing your lease as a debt on your balance sheet, you’ll record them on your income statement as a rental expense. This ends up benefiting you as it can result in significant tax deductions for your company. Additionally, the flexibility of being able to update your equipment and the simplicity of the accounting for an operating lease make it the preferred leasing choice for many companies.
A capital lease, also called a finance lease, is one where all risks and benefits of ownership are transferred to the lessee. This means that in the eyes of the IRS, you are taking out a loan for your lab equipment. You will end up recording this as a debt on your balance sheet instead of having it listed as a rental expense on your income statement. Additionally, the terms of capital leases are often onerous, being similar to the bank loans to which they function similarly.
The tax benefits of an operating lease can vary based on the type of asset being leased and its use. However, in general, operating lease payments are considered to be operating expenses and can be deducted against taxable income. This means companies that are generating revenue can reduce their taxable income by the amount of their operating lease payments, which in turn reduces their tax liability.
It’s important to speak with your tax advisor to determine the tax implications of operating lease payments, as the tax treatment of these payments may vary depending on the specific circumstances of the business and the applicable tax laws and regulations.
The purpose of ASC 842 is to bring most operating leases, which are currently accounted for off-balance sheet, onto the balance sheet. As a result, ASC 842 changes the definition of a lease and how it is accounted for.
You can reach out directly to your CSM or give us a call at +1 888-927-3802. Prefer an email? Email us at customerservice@excedr.com. We’ll be sure to resolve the problem as quickly as possible.
Unfortunately, at this time, we cannot provide leases to companies in the cannabis industry. Due to cannabis’ current state as a Federal Schedule 1 Drug, we are unable to lease equipment to companies without DEA permits that directly work with cannabis.
We assign you a dedicated customer success manager (CSM) to act as your main point of contact throughout the lease term. They will be as up-to-date about your lease as you are. You can reach out directly to your CSM with any issues or concerns and receive a prompt response.
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