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 Oregon, equipment leases for businesses are contractual agreements that allow companies to use technology and machinery without the upfront cost of purchasing. These leases typically include options for service, repair, and periodic upgrades, which may incur additional costs. Lease payments are secured by the equipment itself, meaning that if a business fails to make payments on time, the leasing company (lessor) has the right to repossess the equipment. Oregon law requires that lease agreements adhere to the Uniform Commercial Code (UCC) as adopted by the state, which governs personal property leases. At the end of the lease term, Oregon businesses often have the option to purchase the leased equipment at an agreed-upon price or at its fair market value, as specified in the lease agreement. It's important for businesses to review their lease agreements carefully and consult with an attorney to understand their rights and obligations under Oregon law.