Q:

How much do I need for a down payment?

A:

Down payment requirements can vary depending on the structure of your deal. For leases, an advanced rental of a minimum 15% is required. For traditional finance contracts, down payments often start around 25%. That said, we review each application individually and may offer flexible terms based on your overall profile.

Q:

What credit score do I need to qualify?

A:

While a higher credit score can lead to better terms, it's not the only factor we consider. Approvals are based on a combination of credit history, available down payment and, when applicable, your past payment history with Zip’s. We’ve worked with a wide range of customers, including those with less-than-perfect credit.

Q:

Can I finance used equipment?

A:

Yes, Zip’s offers financing options for both new and used equipment. However, we typically shy away from approving deals on significantly older units due to increased risk. When financing older equipment, a larger down payment is often required, and approvals are reviewed on a case-by-case basis.

Q:

Can I use Zip’s Finance if I’m buying from another dealer?

A:

Yes! You are not limited to equipment purchased directly from Zip’s. We’re happy to work with competitive dealers and maintain great relationships with many of them across the industry. In fact, we’d gladly work with all of them if they were open to it! Our goal is to provide flexible financing solutions that support your business, no matter from whom you choose to buy. Terms based on your overall profile.

Q:

How long does the approval process take?

A:

In many cases, approvals are completed within 1–2 business days once all required information is submitted. We work quickly to get you an answer, so you can keep your business moving forward.

Q:

What documents or information will I need to apply?

A:

Typically, we’ll ask for a completed credit application, your driver’s license, business ownership information and recent financials. Once submitted, our finance team can walk you through any next steps.

Q:

Are there tax advantages to leasing or financing equipment?

A:

Yes. Many customers benefit from tax deductions under Section 179 or other tax advantages related to leasing and depreciation. We recommend consulting with your tax advisor to understand what works best for your business.

Q:

Can I pay off my lease or finance contract early?

A:

Absolutely. Many of our contracts allow for early payoff, giving you flexibility if your financial situation changes. We do require a flat payoff fee of $350.00, regardless of the dollar amount, agreement structure or timing of the payoff. If you're considering an early payoff, our finance team can walk you through the details.