How does the process work?

  • A customer wants to acquire your equipment and is interested in financing.
  • The customer receives and completes the Preferred Leasing credit application.
  • A copy of the quote and completed credit application are sent back to Preferred Leasing.
  • We process the application promptly.
  • Preferred Leasing notifies the customer and/or the Dealer of approval, and then discusses the final terms. If additional credit information is needed, Preferred Leasing will deal directly with the customer to get all the necessary information.
  • Next, once credit is approved, Preferred Leasing sends the lease documents to either the vendor or directly to the customer. We will follow-up to insure the documents get returned in a timely manner.
  • Preferred Leasing, upon acceptance and receipt of documents and equipment invoice, we will notify the vendor, and issue a Purchase Order if needed. The equipment can then be shipped to the customer.
  • Upon receiving a verbal “delivery and acceptance” of the equipment by the customer your invoice will be paid within 24 hours.

The process can and will be modified to suit the vendor’s/customer’s needs.