Equipment leases for your business allow you to lease current technology (computers, printers, servers, telephone systems), equipment, and machinery, and pay for it over time rather than making a large initial investment to purchase the equipment. Options for service and repair of the leased equipment, and periodic upgrades of the equipment are often included in equipment leases at an additional cost. Your lease payments are generally secured by the equipment, and the leasing company (lessor) will have the right to remove the equipment from your business if you fail to make the lease payments on time. And at the end of the equipment lease you may have the opportunity to purchase the equipment at an agreed price, or at a fair market value.

In Arizona, equipment leases for businesses are contractual agreements where the lessee (business) can use technology, equipment, or machinery provided by the lessor (leasing company) in exchange for periodic payments. These leases often include options for service, repair, and upgrades, which may incur additional costs. The lease payments are typically secured by the equipment itself, meaning that the lessor retains a security interest in the equipment and may repossess it if the lessee defaults on payments. Arizona law, including the Uniform Commercial Code as adopted in Arizona (Title 47), governs such secured transactions and the rights of lessors in the event of lessee default. At the conclusion of the lease term, the lessee may have the option to purchase the equipment at a predetermined price or at its fair market value, depending on the lease agreement's terms. It is important for businesses to carefully review and understand the lease terms, including end-of-lease options and obligations, and to consider consulting with an attorney to ensure that the lease agreement meets their needs and complies with applicable laws.