What is the name of your state? Washington.
I have a leased piece of very expensive equipment for my business. My current clientele is just barely enough to support my business withOUT the piece of equipment but not with. The lease company will allow me to have the 5-year lease assumed, but I have only been able to find cash buyers for the equipment. The lease company will only allow early buy-out if I pay the full 5 years worth of interest, which I could never come up with. Please forgive my contract/legal ignorance, but my question is: Is there a possibility that I could somehow, with the help of a lawyer, get the lease company to accept early cash buy-out without paying the gigantic 5 year interest payment? Has this ever been done? Thanks very much in advance!
I have a leased piece of very expensive equipment for my business. My current clientele is just barely enough to support my business withOUT the piece of equipment but not with. The lease company will allow me to have the 5-year lease assumed, but I have only been able to find cash buyers for the equipment. The lease company will only allow early buy-out if I pay the full 5 years worth of interest, which I could never come up with. Please forgive my contract/legal ignorance, but my question is: Is there a possibility that I could somehow, with the help of a lawyer, get the lease company to accept early cash buy-out without paying the gigantic 5 year interest payment? Has this ever been done? Thanks very much in advance!