Fair Market Value (FMV) Lease
At the end of the lease the lessee has the option to purchase the equipment at the then fair market value, renew the lease at a fair market value rental rate, or return the equipment to Summit. An FMV lease provides tax advantages allowing the lessee to fully claim the lease payments as a business expense for tax purposes thus lowering the business taxable income.* 

$1 Buyout Lease
At the end of the lease term the lessee purchases the equipment for $1.

10% Purchase Option Lease
At the end of the lease term the lessee may purchase the equipment for 10% of the original system cost, renew the lease at a Fair Market Value amount, or return the equipment to Summit.

Purchase Upon Termination (PUT) Lease
An agreement that requires the lessee to purchase the equipment at the end of the lease for a pre-determined amount.

Bakers Dozen Program
A thirteen-payment lease ideal for low ticket items. The rental payment equals the equipment cost divided by 12. The lessee makes thirteen payments and purchases the equipment for a dollar at end of term. This program may require dealer participation.

No Interest Program
A plan most customers understand quickly. Divide your dealer invoice by the number of payments in the lease term to get your customer’s payment amount. Summit pays the dealer an amount less than the dealer invoice.

90-Day Deferred Program
Same as a standard program with a 90 day deferment built into the beginning of the repayment stream. The lessee gets the equipment now and starts payments in three months.

60-Day Deferred Program
Same as “90-Day Deferred” with a reduced deferment. Adapts to the lessee’s timetable.

Flex Lease Program
For customers who wish to lower their monthly payments. Standard terms are extended 3 or 6 months resulting in lower monthly payments and the Fair Market Value purchase option is capped.

Vendor Participated Programs
These programs allow an equipment vendor to participate in the customer's lease cost by reducing their invoice cost by an agreed upon amount. This participation facilitates below market interest rate programs to differentiate the vendor’s solution from the competition.

Step Lease Program
Lets the equipment start to generate financial benefits before lease payments begin in earnest. For example, the first six lease payments can be an amount that helps fit your cash flow needs, followed by normal payments.

Seasonal Program
Perfect for companies whose business is slower in summer or winter. Low or no payments during the off season.

* Summit does not provide tax advice. Please consult your tax advisor for proper accounting and tax treatment.