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Lease on Life

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Equipment Leasing Mirrors Life Itself

Leasing is in some ways analogous to life. Just as we all have exclusive use of our bodies for the term of our life, we have use of equipment that we lease for the term of the lease.   In the sense of “useful life”, we truly have our lease on life for the entire useful life.  That’s similar to a capital or finance lease, not so much so to an operating lease.  We use up the majority or all of an asset’s useful life in a capital lease.  In an operating lease, only a portion of the asset’s useful life is used up by the lessee. Without question, your lease on life is also a temporary use. Yet, you will be the only customer of that lease.  In fact, you are an awesome customer and your business is appreciated.

Who is The leasing company in your lease on life?  Allow me to rephrase; who is the lessor over your lease.  If you are a Christian, God grants your lease and is therefore the Lessor.  On the other hand, if you have another religion you have a different lessor.   I suppose if you’re an agnostic, you don’t know who the lessor is.   Subsequently, it follows that the atheist is his or her own lessor.   Whatever applies to your lease on life, one thing is obvious; equipment leasing may be complicated, but life leasing is incomparably more complex.

Make The Best of your Lease on Life

If the equipment you lease is wearing out or no longer suitable or its intended purpose, you can trade it up.  We refer to that as a lease upgrade.  The disadvantage is that you’ll roll the remaining balance of the lease and some early termination fees into the new lease. Still, you will wind up with a new piece of equipment and a fresh start.  I’m afraid you don’t have those luxuries with your life.   Your lease on life, however, may be cancelled. You can call it quits at any time, but you can’t reinstate it once terminated.   Nobody will be better off, and certainly not yourself, if you willfully cancel your own lease.

You can’t simply trade up when life isn’t working right and there isn’t a service contract. Sure, you may have a crummy insurance plan, but it does little more than to get you free band aids for the bigger problems you’re faced with.  Similarly, your equipment service contract, while not actually part of the lease, covers part replacements, service calls, general repairs and perhaps sustenance for your equipment’s hunger.  What about the case where something can’t be fixed or when “acts of God” intervene on your lease?

Unforeseen Problems That Threaten Your “Equipment”

Bad weather, Lightening, storm force winds, floods and fire can destroy equipment, beyond repair.   Conversely, events and occurrences, terminal illnesses can all threaten the health and longevity of our lease on life. Be prepared that your service agreement may not cover damages incurred to equipment, as a result of forces of nature. However, your insurance company should cover the claim, provided they are convinced of the sudden and accidental damage caused proximally by a covered peril.

When such an event, out of our control, strikes us,  it may threaten our entire lease on life.  All the money in the world won’t be enough to make it alright.  You have to fight your way through, the best way you know how.  Mustering every bit of will and inner strength, with a strong support system, you march forward with optimism and resolve to make it through to the other side.  During good times, its easy for all of us to take for granted that we and our equipment work perfectly well for our purposes.  Recognize that no matter how good the advertisement, regardless of the supposed guarantee, nothing in life is a sure thing. That includes the term of your lease on life.

Cancelation Policies Not So Good

Whether you’re leasing copiers or backhoes, you will get the most value for your dollar if you stay the full term. As I pointed out in my upgrade article, buying out or upgrading the lease is an expensive, usually needless undertaking. The time for you to shorten the lease, is before you enter into the agreement, not after.  Once you commit to the terms and payment, you are never going to pay less than the number of payments multiplied by the payment amount.  Your reality is that simple, but the interest isn’t…simple, that is.   It’s been said the only thing we have to do is pay taxes and die. We should add to that statement –  pay the full amount of your lease. That’s right.  You’re not allowed to leave this earth until you pay your lease off, along with your taxes.

While life is much more complex than an equipment lease, the terms themselves are left more to the lessee in their life lease. Consider this; your lease on life is cancelable, but your equipment lease is not. Yet, the idea of persevering with your lease on life is much more appealing than doing so with the lease for equipment that no longer functions well. There’s jut no future in cancelling your own lease. So, while we’re granted some flexibility there, paying the bill is a bargain.  It’s the one lease that you would renew, if only there were an end of term option.

Upgrade Your lease On Life – Low Cost Improvements Are Available

You owe it to yourself, your family, and all those less fortunate than you, to make your life the best life it can be. After all, you only get one lease on life and you don’t know when that lease will expire. Don’t wait until the termination date starts to become visible, before you act.  It doesn’t matter that your life isn’t perfect. What matters is that you woke up this morning and have your life lease in tact. Count the blessings that you have, not the failures that you’ve made. Do you have your health, love in your life, food to eat and a roof over your head?

If you have just one of those things, that is what you should focus on to help you go further. If, you’re like the majority of Americans, you have all of those things or at least a measure of each of those things.  Look around you.  You’re in a pretty good place, aren’t you? No matter what your situation, you can upgrade your own lease on life, but nobody else can do it for you.  That may mean doing more for others, or it may mean setting higher goals for yourself and striving to achieve them.  You deserve an upgrade of your life and here’s the secret – Attitude!

Positive Attitudes Allow for Higher Altitudes

I used to fly airplanes. I can tell you that the forces of lift are essential to flight.  Provided that lift exceeds gravity, flight is able to exist.  As you increase the throttle, the nose of the plane will pitch up, increasing your attitude. You will rise to a higher altitude as a result.  If you want to achieve a higher altitude in your life, just add some power to increase your attitude and you will fly higher.  The forces of drag and gravity will always try to pull you down, but you have the ability to overcome those forces.  You are the pilot of your life.  How high do you want to go and how far do you want to fly?

The amount of positive attitude you have will affect how much you can upgrade your lease on life.  There’s really no limit to the number of upgrades, the value of the upgrades or the term of the upgrades, provided the upgrades are within the term of your life long lease.   Also, the term of your lease may be extended if you elect the right lease upgrades.  You’ll find the more positive your attitude is, the more upgrades you’ll get in your life and the upgrades will then come at an accelerating and exhilarating rate of climb.  You have the excess power and you are in control of your destiny.

Share The Journey – Share Your Attitude

If you’ve got the most incredibly upgraded lease on life, that’s truly great. If you’ve climbed right out of the atmosphere, be thankful and appreciative.  Now that you’re awesome, have humility and recognize that you can make a positive impact on others.  You can be the inspiration that makes others want to upgrade their own leases. One thing about positive mental attitude that’s nothing short of amazing is that its contagious. Have you ever noticed that certain people command peoples’ attention.  You can be in a room full of people and one of those certain individuals walks into the room and within minutes they have an audience.  Naturally, one could argue that that’s because of physical beauty. However,  physical beauty without personality rarely draws more than a few stares, glances or whispers.

People draw attention because they have Charisma, confidence and charm.  They have personality with a capital “P”. If you happen to be one of those extraordinary magnetic types, use your gift to lift others to higher altitudes. On the other hand, if you’re less outgoing, you can quietly take others on your journey and make a big difference.  You can do this with small groups of friends, a single friend or better yet, someone you may not even know yet. Understand, you don’t have to give the shirt off your back (unless you have that opportunity) or take homeless people to dinner or save the planet to fulfil a positive purpose.  You can be your best self, which is pretty damn awesome, and others will benefit from your positive attitude.  Positive Attitude is one thing you can share and still have just as much of it, if not more.

Summary of Lease on Life

Life is analogous to Leasing in several ways. The most obvious similarity is that neither life nor leases are permanent. We compared the following characteristics of life and leasing:

  1. Term – Both life and equipment leases have a term – Only the Universe or God knows the term of your life, whereas the equipment lease has an agreed upon term in months or years.
  2. Cancellation Policies – Life leases have a cancellation policy that’s pretty severe.  On the other hand, equipment leases are non-cancelable and you’re going to pay the full note, come hell or high water.
  3. Upgradeability – Upgrading an equipment lease is a costly venture. However, your lease on life can be upgraded at at any time with a positive change in attitude.
  4. Termination  – By definition, equipment leases have a pre-defined termination date and various negotiable possibilities, one of which is renewing the lease.  Life leases will terminate with no certain time or notice, without renewal options, which make it necessary to enjoy your life to its fullest and take advantage of upgrade possibilities before termination is apparent

If you have Comments, I hope you will share them below.  If this writing has been in any way inspirational or enjoyable to read, I consider it a success.  Equipment leasing tends to be a dry topic, with a lot of terms, definitions, law and practical stuff.   This article is atypical from other articles on the lesseesadvcocate website.   If you are not already a reader of the more business practical writings on this site, I hope you will take the time to sort through the posts or do an onsite search for some leasing terms that will help you come to a better understanding of equipment leases and how they work.





About the author

Eric Klee

My name is Eric Klee. I've been in the equipment leasing and service business since my first professional job in 1984, in Saginaw Michigan. I've owned several small businesses, including two copier companies. I presently own Digicor, inc., an independent copier sales, service and leasing compay I began in 2000. I call Tampa Bay, Florida home, having moved here from Flushing Michigan in 1989.

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