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Lease options are a great way to rent or rent to own our products. We have multiple lease agreements with business's and homeowners for leasing to own our games and furniture. Contact us today to find out more about how our lease and lease to own options work and if it is the right choice for your personal or business needs.
Lease:
Xplor Games and buyer, agree to a price at the inception of agreement. Buyer agrees to lease the product from XG for a predetermined rental amount during the term of the lease agreement. This term is negotiable but usually starts at 1 year.
Nobody else can buy the product during the lease option and the buyer can not assign the lease option without XG approval.
If the buyer does not exercise the lease agreement, XG can take property back and lease is cancelled.
Lease with option to buy:
In the same variation as a lease agreement, the buyer pays XG a optional deposit for product which grants buyer option to purchase the product later. Optional deposit is predetermined with buyer and XG and is non-refundable. XG and buyer agree on a final purchase price, which will be a bit higher than current market value.
During the term of agreement, the buyer agrees to lease the property from XG for a predetermined amount. The term of the lease-purchase agreement is negotiable but common duration is from one to five years.
A portion of the monthly lease payment goes toward the agreed purchase price and at the end of the lease agreement, buyer agrees to pay XG in full. If at end of term buyer can not pay for product in full, XG has the option to take product back in full ownership.
Nobody else can buy the product during the lease agreement unless the buyer defaults. Buyer cannot assign the lease-purchase agreement to anyone else without XG’s approval.
Buyers are responsible for maintaining the product and paying all expenses associated with its upkeep during the term, and they are contractually obligated to buy the property.
Contact us for more information about our Lease options.