Equipment Leasing

If your department is looking to purchase a major piece of office, research or medical equipment, but you are concerned about incurring the entire expense in one fiscal year, leasing may be a attractive alternative. With a lease, the cost of equipment can be spread over a term of up to seven years.

Many vendors provide leasing services along with their equipment sales. Experience has shown that this kind of vendor provided leasing often isn't the most economical proposal because of hidden costs and undisclosed terms. Purchasing Services and the Office of Special Vendor Programs have initiated a relationship with Minority Alliance Capital and City National Bank. This strategic partnership of minority-owned financial institutions does nothing but leasing. Minority Alliance Capital/City National doesn't sell or service equipment, so in the majority of cases, they can provide lease rates that provide cost savings.

When considering leasing equipment, please remember that all lease documents must be forwarded to Purchasing Services for processing. Please do not sign any lease contracts. Purchasing Services will compare the price and terms to those provided by Minority Alliance Capital / City National Bank. Use of a third party leasing company will not change the make and model of the equipment being requested. Since the University has an existing master lease with Minority Alliance Capital / City National Bank, no additional review of individual lease documents is required. This expedites the lease transaction.

If you any questions about the Minority Alliance Capital / City National Bank Master Lease program contact Bobby Fitts at 5-9043.