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Pitfalls of Equipment Leasing

We have many members who call us "after the fact" to let us know they have signed a contract to lease "the latest-greatest" credit card equipment and are changing processors.

Our first thought is, "This is going to hurt (our member)".  Anytime our members call with what appear to be good deals, we instinctively ask questions.

It is not unusual to find our member has signed a four year contract to lease this equipment.  Typically we are seeing monthly charges of $45-$78.  That's a pretty good deal, right?

$35 x 48 months = $2,160

$78 x 48 months = $3,744

Wrong.  Our equipment prices are in a different ballpark, and guess what, No Contract.

At the end of these leases the equipment is typically the merchants to keep, however, much the of the equipment marketed in this manner isn't universally accepted by processors.

Please call us before you sign any kind of equipment or processing contract.  We are skilled at sniffing out weasels. 

 

 

 

 

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