Equipment option 2025

See details

4.6 out of 5

25 votes

The document is a Personal Property Lease Agreement for Equipment and Furniture between a Lessor and Lessee, outlining the terms of the lease, including rental payments, duration, responsibilities for maintenance and insurance, options for purchase, and procedures for default. It establishes mutual obligations and rights regarding the use of the leased items, as well as provisions for arbitration in case of disputes.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out equipment option with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the Equipment and Furniture Lease in the editor.
Begin by entering the date of the lease in the designated field at the top of the form.
Fill in the names and addresses of both Lessor and Lessee, ensuring all details are accurate for legal purposes.
In Section 2, specify the lease term by entering the number of months and start/end dates.
For rental payments in Section 3, input the monthly rental amount and payment due dates. Remember to note any late fees applicable.
Complete Sections 6 through 12 by providing information on deposits, insurance requirements, and return conditions for the equipment.
If you wish to exercise your option to purchase (Section 18), indicate your intent clearly by filling out the required notice period.

Start using our platform today to streamline your document editing and signing process for free!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How can I eSign my equipment option from Gmail?

With DocHub, it’s quite simple. The editor offers users an add-on called DocHub for Gmail, which you can find in the Google Workspace Marketplace without being charged. Install it and grant it access to your Google account. Open your email with your equipment option attached and click on the add-on button in the right-side panel. Sign in to your DocHub account, and import the file to our editor, where you can fill it out and sign.

How do you edit equipment option online?

With DocHub, there are several convenient ways to edit your equipment option online. You can drag and drop the form and edit it straight at the DocHub site or use our browser extension to fill out your form immediately. Additionally, you can edit your PDF on your phone, as DocHub works with all the accessible mobile platforms.

Is it better to lease or buy equipment for tax purposes?

From a cash flow perspective, leasing can be more attractive than buying. Plus, leasing does provide some tax benefits. This includes payments for leases generally being tax deductible as ordinary and necessary business expenses. Please note though, that annual deduction limits may apply.

What are the disadvantages of leasing equipment?

While leasing can be easier on cash flow, in the long run the cost is usually higher than buying. Another drawback is that when the lease term ends, youll need to replace the equipment. Lease payments for the replacement could be docHubly higher.

Is it better to lease equipment or buy?

Leasing equipment preserves cash and offers upgrade flexibility, but typically costs more overall and doesnt build ownership equity. Buying equipment gives you valuable ownership and tax breaks, but requires more upfront cash and risks getting stuck with outdated assets.

What are the two types of equipment leases?

There are two basic types of equipment lease: operating leases and finance leases (also called capital leases). Related arrangements, such as sale-leaseback agreements, exist to provide additional financial flexibility.

What happens at the end of an equipment lease?

At the end of the lease period, the lessee typically has the following options: Return the equipment to the lessor (common for operating leases). Purchase the equipment at fair market value or a predetermined price (capital lease or $1 buyout lease). Extend the rental period under a new agreement.

Can you get out of an equipment lease?

A lessee can cancel the equipment lease agreement, with prior notice, at any time before the expiry of the lease period, but usually with a penalty.

Why lease equipment instead of buy?

Leasing capital equipment: Lowers upfront costs, compared to buying equipment outright. Reduces the chance that your company gets stuck with obsolete equipment, if your contract specifies upgrades.

What are three disadvantages of leasing?

Cons of Leasing a Vehicle There are mileage restrictions. You have no ownership equity when you lease. Leasing may involve several potential charges and fees. Customization options are limited with leased vehicles. Payments continue for as long as you lease the vehicle. Insurance may cost more for a leased vehicle.

Equipment option 2025

Here's how it works