How do Clicklease approvals work?
Using our cutting-edge technology, we create custom approval amounts and payment terms to fit each applicant. This enables us to approve more customers for higher approval amounts. Customers can choose a payment plan that fits their growing business.
Clicklease offers a few (usually 3) options for customers to select. Simply put—lower monthly payments spread out over a longer time frame, or higher monthly payments with a shorter lease term. Customers can consider their budget, situation, and the amount of revenue they expect to earn from a piece of equipment to determine which terms will suit their needs.
What are the “rates?”
Because we offer leases, rather than loans, we don’t have an “interest rate.” Instead, our leases attach a set surcharge at beginning of the lease which is then spread out between each payment.
To determine the total amount a customer will pay over the full lease terms, they can multiply their monthly payment amount by the total number of payments. On average, the cost of a lease with Clicklease is about the same as someone would pay with an expensive credit card.
The benefit of a fixed fee instead of an interest rate, is that customers never have to worry about compounding interest, like they would with a credit card.
Why might a customer choose Clicklease?
Clicklease approves customers who are overlooked by traditional financing options—like customers with poor credit or start-ups with limited time in business. We take a chance on these customers—helping them fund their small business dreams.
Clicklease isn’t just a “bad credit option.” Even customers who could get approved elsewhere often choose to finance with Clicklease. Here are just a few reasons:
Clicklease is quick, easy, and convenient—perfect if they need same-day equipment.
Clicklease payments make it easy to budget and measure ROI.
Leasing doesn’t show up on a balance sheet as a liability—important if they need to apply for non-equipment loans later.
Leasing maintains credit lines and cash flow, so small businesses can use those resources for day-to-day operations.
How do leases work?
Customers select their equipment and apply for Clicklease financing. When the customer is approved, they review and sign a lease agreement. Then Clicklease buys the equipment directly from the seller partner for the full invoiced amount. The customer leases the equipment directly from Clicklease, so we handle everything once the customer receives their equipment.
And we always pay partners 100% of the invoiced amount. We don’t charge any seller fees—it’s always free to work with Clicklease.
Business equipment leases work a little differently than the leases customers may encounter in their personal life. When someone leases a car, they bear limited responsibility for maintenance and liability. When the lease term is up, they return the car with no right of ownership. (Though some auto leases do give you a buy-out option, it’s usually cost-prohibitive.)
At Clicklease, we try to make our leases more like traditional financing, so we build a buyout option into every lease agreement. Typically, at the end of the lease term, the customer makes three more monthly payments, and then they own the equipment outright. The customer is also responsible for maintenance and repairs throughout the lease.
Do you require a down payment?
We don’t require a down payment, but we do charge a documentation fee at the time of signing. The documentation fee typically ranges from $79 to $399 depending on the size of the lease. This "doc fee" is an underwriting tool, not a down payment and doesn’t go toward the balance of the lease.
How to talk about the tax benefits of leasing?
Lease payments may be tax deductible as a business expense. There can be some great tax benefits to leasing; if a customer has further questions, encourage them to talk to their accountant.