Frequently asked questions

Park Western Leasing has leased many different types of equipment since we began in 1987. Our specialty has been in the leasing of titled work trucks, trucks (semi’s) and trailers, drilling and oil services equipment, and construction equipment. Of course, we will consider leasing other types of equipment, but it’s safe to say that we know trucks, trailers, and titled work vehicles!

The average cost of equipment that we lease is $40,000. Average aside, we lease equipment ranging in cost from $10,000 to $500,000.

Great question! We’ve already addressed another question about our outstanding customer service, but just so that we can let the numbers do the talking for us...did you know that over 70% of our customers come back to Park Western for additional leases? That’s a fact!  And we’re proud of it!

You bet we do! Give us a call, or send us a note, and we will be happy to provide you with references.

A lease is a form of financing allowing the customer to pay for equipment as they use it. Compared with a loan, the user of the equipment does not own the equipment. Rather, they pay for the use of the equipment, paying for its use out of income. In some cases, there may be advantages to acquiring equipment by way of a Lease, rather than a Loan (but please speak with your accountant or tax advisor to determine your options.)

The leasing company owns the equipment throughout the term of a lease contract; however, customers of Park Western Leasing are given the option of owning the equipment at the end of your lease, for an amount (in many cases) well below the current value of the equipment.

Leasing allows you to get the equipment you need to run your business without draining your business’s resources or capital. In some cases, you are allowed to deduct the monthly lease payment as an operating expense, meaning Lease payments simply become part of your monthly operating budget, rather than a long-term liability.* In addition, if your business utilizes bank lines of credit, Leasing is a great way to keep your lines of credit open for other uses.

*Please speak with your accountant or tax advisor to determine your options when acquiring equipment through an Equipment Lease, rather than a loan.

Paying cash for equipment is certainly a good option; however, in doing so, you will deplete your cash reserves.  Would you pay a worker two years in advance? Of course not! Then why do the same with your equipment? Pay for the equipment as you use it.

Depending on the age of the equipment, Park Western offers terms ranging from 12 to 72 months. We can also offer skip payments or step payments if that would be of benefit to you and your business.

Absolutely! Park Western will consider leasing equipment up to 20 years of age. In some cases, even older! This is one area that clearly sets Park Western apart from other leasing companies.