Baystone Financial Group’s Frequently Asked Questions

  1. What is a municipal or tax-exempt lease?
  2. What types of entities qualify for a municipal or tax-exempt lease?
  3. Does a Volunteer Fire Department qualify for the same rate as a City, County or District?
  4. Why lease the equipment?
  5. Is leasing easy?
  6. What is the difference between a municipal lease purchase and a commercial/rental lease?
  7. Who owns the equpiment under a tax-exempt lease, and who is responsible for maintenance, insurance and taxes?
  8. What is a non-appropriation or funding out clause?
  9. What can be financed on a tax-exempt basis?
  10. Am I limited to certain types of equipment?
  11. Can used equipment be financed?
  12. Is there a minimum amount that can be financed with Baystone Financial Group?
  13. Can I include my service or maintenance contract in the financing?
  14. Can I include money for future equipment purchases in today's lease?
  15. Can I make payments via ‘auto draft’ or ACH?
  16. What are the terms available to municipal entities for financing?
  17. How does lease-purchase financing differ from bond financing?
  18. We've already paid for the equipment, can we still finance it?
  19. We are planning to order a truck that will take a year to build, when should we consider financing?
  20. We have other debt such as bank notes, mortgages or leases, can they be refinanced at the lower tax-exempt rates?
  21. When the city issued bonds, there were many fees involved for underwriting, legal, printing, rating and insurance. Are there any fees involved with a lease purchase?
  22. Can I finance equipment purchased from a variety of manufacturers/distributors?
  23. When reviewing proposals, what should I do to make sure I am comparing apples to apples?
  24. What do you mean by tax-exempt financing, our organization is already tax-exempt?
  25. What are some of the benefits of tax-exempt leasing?
  26. Does the lessee have the option to pay off a lease prior to the last payment when financing with Baystone?
  27. If I am a vendor or a broker, can I work with Baystone Financial Group to establish a ‘private label’ program for my company?
If you have a questions that has not been answered or you would like additional information, please contact us directly and we will be happy to assist you.