How It Works
Thinking About Financing with North Star Leasing? Here’s What You Need to Know.
We know that financing equipment can come with questions, and we’re here to make the process as transparent and straightforward as possible. Below are answers to some of the most common questions we get from customers. If you’d like to talk through any details, our equipment financing experts are always just a call or email away.
Frequently Asked Questions:
Will applying affect my credit score?
Yes, submitting an application includes a hard credit pull. While this may have a minor impact on your credit score, it typically rebounds quickly. If you’d like to review your options before we pull credit, we’re happy to discuss – just reach out to one of our equipment financing experts.
What interest rate can you offer me?
Our financing is structured as a Lease-to-Own agreement. Instead of a traditional interest rate, payments are based on a rate factor. Once your application is approved, your financing expert will explain the annual cost of funds and help you understand the full picture.
Are there any hidden fees?
No surprises here. Outside of your agreed-upon monthly payment, the only additional charge is a standard processing fee. This covers documentation, titling, and other administrative requirements and is relative to the amount of equipment financed.
Are my monthly payments fixed? Can rising interest rates affect them?
Your monthly payments are fixed for the duration of your lease. Once your terms are locked in, your payment won’t change—regardless of what happens with interest rates—giving you full predictability for budgeting.
What is the longest lease term you offer?
Standard lease terms range from 24 to 60 months.
Can I include freight, shipping, or taxes in my financing?
Absolutely. Soft costs like freight, delivery, shipping, and taxes can be rolled into your financing. Helping you manage everything with one predictable monthly payment.
Can I finance multiple equipment purchases at once?
Yes. We can bundle multiple equipment purchases into a single lease, simplifying your payment plan and helping with cash flow management.
Who owns the equipment at the end of the lease?
You do. At the end of your lease term, the equipment is yours, simple as that.
When is the first payment due after funding?
Your first monthly payment (after the initial payment) is due on the 10th of the month following your funding date. The specific timeline may vary depending on your funding date.
