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End of Lease: What Do I Do Now?

Four years have passed. You stare at your leased computer and realize the end of your lease is nearing for your computer – and many more computers within your organization. You generate a “Maturing” equipment report in assetCONNECT® and multiple leases with hundreds of laptops and other IT equipment will end in the next 90 days on your Fair Market Value buyout. What are you going to do?

Relax! Crestmark Equipment Finance will assist you during the end of lease buyout process based on what your company wants to do with these assets. With a Fair Market Value buyout, your business has the option to upgrade to new equipment, purchase the assets, return the equipment or extend the lease on a month-by-month basis.

Once your decision is made, Crestmark Equipment Finance will guide you through the end of lease process.

  • Upgrading to new equipment? Our leasing professionals will coordinate delivery of new equipment, transfer of information to the new equipment, proper information wipe, and removal/remarketing or destruction of the old equipment.
  • Keeping the equipment? Our team will develop end of lease buyout pricing to complete the lease term and transfer the equipment ownership to your company after all lease payments have been fulfilled.
  • Returning the equipment? If you decide to return the assets, your business is responsible for safe packaging and return of the equipment to Crestmark Equipment Finance’s designated facility. If requested, we can quote pricing to have our team on-site at your location(s) to coordinate logistics and proper return at a quoted cost per machine.
  • Extending the lease? Our leasing experts will draw up paperwork to extend the lease on a month-by-month basis until a decision is made to purchase, upgrade or return the equipment.

With any returned IT assets, Crestmark Equipment Finance ensures the safety of your company data by performing proper data sanitation processes that thoroughly sanitizes all applicable IT equipment. A minimum three pass wipe is completed using authorized sanitation software – with any drive failing the process shredded or disposed following federal guidelines and procedures. These services are performed at our designated facility; however, we also can coordinate the same services to occur at your location(s).

We encourage you to learn more about these services by visiting these sections of our website.

We hope this information helped you! Do you have equipment coming off lease? Call us today at 888.999.8050 or complete the contact form and a Crestmark Equipment Finance representative will get back to you as soon as possible.

Subject to credit approval.