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hi there this is Scott Bogart from CFO outsourced in this video I'm going to talk about the difficulty in getting out of an equipment lease one of the biggest drawbacks with equipment leases is that they're not only very difficult to get out of most are extremely expensive to get out of as well the reason is that most leases involve a very simple yet ironclad agreement it says you will be provided the equipment for a stated period of time and in return you'll pay X dollars per month for X number of months it doesn't get any simpler than that you've agreed to make all the payments over the life of the lease no matter what but what if you want to get out if you had purchased the asset instead of leasing it you could sell it pay off the loan and then settle up with a lender on the difference but with a lease in order to get out you have to make all the remaining payments to put this in perspective think about what would happen if you sold your house you would call the bank get the loan b...