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 Indiana, equipment leases for businesses are contractual agreements that allow companies to use technology and machinery without making a full purchase upfront. These leases typically include terms for service, repair, and potential upgrades, which may incur additional costs. Lease payments are secured by the equipment itself, meaning that if a business fails to make timely payments, the lessor (leasing company) has the right to repossess the equipment. Indiana's Uniform Commercial Code (UCC), which governs leases of personal property, would apply to such transactions. At the end of the lease term, Indiana businesses often have the option to purchase the leased equipment at a predetermined price or at its fair market value, depending on the lease agreement. It's important for businesses to carefully review the terms of an equipment lease and consider consulting with an attorney to understand the implications of the lease agreement and ensure it aligns with their financial and operational objectives.