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You have similar credit qualifications necessary for leasing, as for a loan.

Leasing typically costs more in carrying costs, but it does two things, it allows you to write off 100% of the lease payment as an operating expense (rather than capitalizing and depreciating) and it technically does not use up your borrowing power as a loan would. Lease payments are considered rentals in the eyes of the law.

Now, you have to be careful what the end of lease options are. In order to be a legal lease, there must be 'fair market' buyout at the end of the term (or you have the option of just giving back the equipment). Typically you would do a 'stretch' lease, say, 27 month lease FMV, with a defined early buyout option at the 24 month point. Plan to exercise the buyout option. If you miss that, you will end up paying extra.

A lease does NOT confer any extra benefits in the way of warranty or support throughout the term of the lease - that is still up to you. You also cannot sell a leased machine, or move it out of province or give it away or whatever -- it remains the property of the leasing company until (or unless) it is bought out.
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