Financing "Gotchas"

What to look out for when considering financing:

We hear complaints all the time from customers who have had a bad experience from a bank, other lender, or private company who handled the financing for their equipment vendor.

Unfortunately, some financing sources design their contracts to obscure some of the fees or penalties they charge. We call these "gotchas" and have put together a list of some of the things we've seen and how they could affect you...

  1. Contracts that include hidden prepayment penalties
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  2. Contracts that quote artificially "low" interest rates
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  3. Contracts that include high origination and application fees
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  4. Contracts that nickel-and-dime customers with fees
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  5. Automatic contract renewal
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  6. Blanket liens included
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  7. Interim rent included
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Lease/Loan Comparison Hotline:

As a no-obligation service for policyholders, you can call NCMIC's Lease/Loan Comparison Hotline. A specialist will compare a lease or loan you're considering to ours—before you sign on the dotted line.

Call 800-396-7157, ext. 6939
Learn more about the lease/loan comparison hotline

While NCMIC does not provide legal advice, we'd be happy to compare it to our contract and point out differences in terms and fees.

Equipment Loans


New Loans
800-915-3007 ext. 5418

Existing Loans

Equipment loans offered by NCMIC Finance Corporation are subject to credit approval. You should consult an attorney or financial advisor for specific legal or tax advice before entering into any financing arrangement. NCMIC and the equipment vendor you select are separate companies, are not agents of one another, and have no authority to bind one another to financial or other contractual obligations.