Payment options

FinLease offers many payment options to structure a lease in such a way that almost any situation can be covered.

To open the dialog in which you can specify payment options, click the desired Payment options button.

To view the current settings of a payment option, simply point to the desired option.

To enter the same value repeatedly, select the field from which you want to copy values, then press Command-U or Command-D to copy values up or down respectively.

To quickly reset all options to "none", select the Reset Payment Options command from the Tools menu.

To quickly reset all options to "none" and clear previous values, select the Clear Payment Options command from the Tools menu.

Advance payments

Advance payments always occur on lease date.

The Advance payments dialog lets you specify whether the lease should include no advance payment, one, two or three advance payment(s) or a percentage of the lease cost as advance payment.

Step up payments

Step up payments come after the advance payments (if specified) and before normal or seasonal payments.

The Step up payments dialog lets you specify up to 12 groups of up to 12 payments.
Step up payments can be a percentage of normal payments, a fixed amount or interest only.

Seasonal payments

The Seasonal payments dialog lets you structure a lease in such a manner that payments during the high activity months are higher than normal whilst payments in the "off season" are less than normal or even zero.

FinLease lets you enter up to 6 months in which payments differ from regular payments. Seasonal payments can be a percentage of normal payments, a fixed amount or interest only.

Please note that seasonal payment settings only affect normal payments. They do not affect step up or step down payments.

Step down payments

Step down payments come after the normal or seasonal payments, but before the residual payment.

The Step down payments dialog lets you specify up to 12 groups of 12 payments.
Step up payments can be a percentage of normal payments, a fixed amount or interest only.

Residual payment

The Residual payment dialog lets you specify a residual value for the leased property, either as a percentage of lease cost or as a fixed amount.

Furthermore it lets you define when the residual payment should occur:

on normal end date	The residual payment occurs on the date on which the lease would normally end, i.e. as if there weren't any advance payments. If there are advance payments, the residual payment is not shifted forwards
one period after last	The residual payment occurs one period after the last payment. If there are advance payments, the residual payment is shifted forwards.
on last payment date	The residual payment occurs on the same date as the last payment. If there are advance payments, the residual payment is shifted forwards.

When used, the residual payment is a final extra payment that is not included in the total number of payments.

For more information about end of lease options, click here.

Note

The last payment is always adjusted to account for rounding. If the setup includes a last payment that would prevent the final balance to become zero, its setting is ignored

Related topics

General options