Equipment leasing is a process in whereas a lending firm (the lessor) provides financing for new or used equipment to another party (the lessee). Lease financing preserves cash flow, offers tax advantages and helps businesses maintain up-to-date equipment and improved business credit.

What are the Differences between Leasing and Paying Cash?
Leasing allows your company to make payments in smaller installments as opposed to making one significantly higher payment for the same equipment if you were to pay cash. Leasing allows you several tax deductions for your business as well under Section 179.

What's the Difference between Equipment Leasing and Bank Loans?
Getting approved for a bank loan can sometimes take weeks even if you need capital funding immediately. Most bank loans involve lengthy credit applications and business owners often need to provide large down payments and collateral. With equipment leasing, the application is only one page, and businesses can receive equipment without providing a financial statement or extensive collateral.

What Types of Equipment Can I Lease?
Wrenchers Warehouse professionals are knowledgeable about the businesses in our market and are always willing to personally answer any questions you may have. Wrenchers Warehouse typically provides financing for tools and equipment normally found in auto repair businesses but we are able to also finance other business needs including computers, furniture, and more.

How are Lease Rates Determined?

Lease rates will depend on your credit history, the cost of equipment and the term structure you want. In addition, rates are fixed and can be paid off at any time. Use our free online Lease Calculator to get estimated monthly payments for various term lengths along with the estimated return on investment.

How Long Does it Take?
Wrenchers Warehouse can provide up to $100,000 with a one-page credit application and up to $1,000,000 with a full financial package. Many times credit approval can be completed within one hour. Funding typically occurs within 24-48 hours after delivery and acceptance.

How do I get started with an Equipment Lease?
Wrenchers Warehouse simplifies the equipment leasing process with our easy lease application that takes only a few minutes to complete. Typically, you will receive a response back within a few short hours of submitting your application. Our courteous professionals will work with you throughout the entire process to ensure all your expectations are met and to answer any questions you have.

Are Lease Payments a Tax Write Off?
Leasing gives your company the opportunity to deduct your installments from taxable income. We suggest consulting with your tax professional as every business is different.

Why Choose Wrenchers Warehouse for Equipment Leasing?
Wrenchers Warehouse through our network of authorized dealers has been providing equipment leasing solutions to small and medium-sized businesses for many years. Our courteous professionals, who have many years of experience in equipment financing and know about the various industries we work with, will present you with the best financing options for your business. We offer competitive rates and will work very hard to help you get the equipment you need quickly at payment structure that you can afford.

What's the Best Choice - Lease or Bank Loan?
At Wrenchers Warehouse, we have the answers and information you need to help you determine the best financing option that will grow your business. As you are probably familiar with, a small business loan application process through a bank can be very involved and many times requires full disclosure about your personal and business credit. Banks will ask to see your tax returns, business financial statements and personal financial statements. In addition, getting a small business loan approved by a bank can take up to several weeks or longer. In today’s tough economic climate, it may be difficult or impossible to get approved for a bank loan. When it comes to a business load or equipment lease, it all depends on your needs, timeframe, and financial situation.

What are good Reasons to Get Equipment Financing?
Having little or no working capital or creditable business credit can make dealing with banks difficult and can prevent you from getting a business loan approved. That's where equipment leasing can help. An equipment lease through Wrenchers Warehouse is a practical option for businesses of all types and sizes. It enables you to get specialized tools and equipment your business needs to stay competitive along with common office equipment or furniture for a monthly payment that doesn't break the bank. Financing through Wrenchers Warehouse is much easier than getting a small business loan. We have a simple one-page application that takes just minutes to complete. Credit approvals are provided in as little as one hour and we have the ability to provide same-day funding.

Will I receive an invoice?
You will receive an invoice monthly as a courtesy to remind you that your payment is due. You should return the remittance section at the bottom of your invoice along with your monthly payment. If your monthly payment is set-up to be automatically deducted from your account, the invoice is simply for informational purposes and recordkeeping.

Will Property Insurance be required on my Leased Equipment?
Under the terms of your lease you will be required to maintain property insurance on the equipment. There are two ways that you can fulfill the insurance requirement for your leased equipment;

• You can provide proof of your own insurance on the leased equipment by having your agent or broker call our Service Center.
• You can fax a copy of the insurance certificate with the appropriate coverage to our Service Center.

What if I am unable to provide my own property insurance?
Your leased equipment can be insured under a policy obtained by Wrenchers Warehouse. The charge for this insurance can be added to your invoice monthly that would include the premium and other related charges. For your equipment to be insured under this program, simply pay the monthly insurance charge that will be added to your invoice. When you are able to provide proof of your own insurance, then the insurance charge will be removed from your invoice within 1 to 2 billing cycles.

How would I obtain the payoff amount for my lease?

You must submit a payoff request in writing with your contract number and the signature of the party who signed the lease documents. There will be a 48 to 72 hour turnaround time. In order to protect the lessee’s privacy, payoff letters will only be mailed to the address we have on file.

What about additional equipment needs? How can Wrenchers Warehouse help?
Wrenchers Warehouse is a nationwide provider of financing for growing businesses. We offer our customers same-day approval for transactions up to $100,000. Our competitive advantage lies in our flexibility. Our highly qualified credit managers personally review each transaction, which means there are no auto-declines. With our flexible credit underwriting, we can structure a financing package that fits your needs and budget. As an existing customer, all you need to do is call Wrenchers Warehouse and ask for the sales department. If you are an existing customer, please have your current contract number ready and identify yourself. Our sales staff will be happy to work with you for all your equipment financing needs.

We hope this FAQ page sheds some light on the many advantages equipment leasing provides. If you would like to move forward with an equipment lease, just submit your online finance application directly through this website.

Get started today by submitting an online lease application or calling one of our friendly customer service representatives. 


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About Us

Wrenchers Warehouse has access to all major brands of automotive equipment and tools as well as service equipment, we are offering our customers the best prices on everything from floor jacks to car lifts. Free shipping is offered on most orders and special group discounts are available for multiple orders. We accept most major credit cards.