IRVING, TX -- September 14, 2009 --- GE Capital, America's largest commercial leasing company, today announced the introduction of the Rebate Lease* to support manufacturers and dealers in their leasing efforts to end users of construction equipment. Among other benefits, the innovative new leasing program provides lessees with direct cash rebates for under-usage of equipment and new, lower pricing for over-usage.
"In today's environment, companies know that every dollar they spend counts," said Diane Cooper, general manager of GE's Equipment Finance business. "We heard from manufacturers and dealers of construction equipment that their customers found it challenging to accurately predict usage for leased equipment. If they guessed too low, they had high overage charges. If they aimed too high, they paid money on equipment time they didn't use. We responded by designing this new leasing program to more closely align leasing costs to actual equipment usage, and also to be simpler and more convenient."
For small and mid-sized companies across the country, GE's equipment leasing products -- now including Rebate Lease -- can be a critical financing option to help improve cash flow, enhance liquidity and increase flexibility.
Key features of the Rebate Lease include:
* Direct cash rebates for under-usage of equipment
* Lower than industry average over-usage charges
* Early notification of decisions points during lease to allow for planning
* Resources to assist with end-of-term processes such as inspections, packing and shipping
* Consultation and support throughout the life of the lease
The Rebate Lease is currently being offered to construction industry customers on most types of equipment and will be made available to other industry sectors at a later date.
About GE Capital
GE Capital is America's largest leasing company. Through its Equipment Finance business it provides commercial leases and loans, typically ranging from $5 thousand to $25 million, to small and mid-sized manufacturers, dealers, and end-business users to help drive cost-efficiencies and top line growth. Customizable financing solutions span from IT, to construction, office imaging, and medical equipment, to telecom, transportation, healthcare and more.
GE Capital offers consumers and businesses around the globe an array of financial products and services. GE (NYSE: GE) is Imagination at Work - a diversified technology, media and financial services company focused on solving some of the world's toughest problems. For more information, visit the company's Web site at ge.com
* All Rebate Leases are subject to final investment approval by GE Capital and the execution of mutually satisfactory lease documentation. Nothing contained herein is to be construed as consulting, financial, tax, accounting or legal advice by GE Capital to any person.