Home > Glossary of Terms > Fair Market Value Lease

Glossary of Terms

Fair Market Value Lease

A Fair Market Value Lease is an equipment lease that offers the option to purchase the equipment end-of-term, at its then-determined fair market value.

Still need help?

Contact Marlin

$1 Buyout

A $1 buyout lease finances the entire cost of the equipment with only a $1 residual value. When your... Learn more →

Administration Fee

This fee covers Marlin’s cost of filing property tax renditions, corresponding with the taxing aut... Learn more →

Advanced Rental Fee

Depending on credit and other factors, some customers are required to pay an upfront advanced rental... Learn more →

Contract Payment

This is the regular monthly/quarterly/annual payment amount, according to your contract. Learn more →

Delivery and Acceptance

After a customer is approved for financing with Marlin, we will release the funds as soon as possibl... Learn more →

Equipment Finance Agreement

An equipment finance agreement is a loan for the full invoice amount. When your payments are complet... Learn more →

Equipment Lease

An equipment lease is an agreement in which Marlin purchases the equipment and the customer retains ... Learn more →

Insurance Fee

Your lease contract may require you to have insurance that protects the equipment against all risks ... Learn more →

Interim Rent

Interim rent is a partial payment that covers the time period between the day we verify you've recei... Learn more →

Installment Payment Agreement

An installment payment agreement is a loan for the full invoice amount. When your payments are compl... Learn more →

Late Charge

If we receive your payment after the due date on the invoice, you may be assessed a late charge. The... Learn more →

One-time Documentation Fee

Marlin does not charge an application fee. We may charge a fee to compensate us for processing the d... Learn more →

Origination Fee

Marlin does not charge an application fee. We may charge a fee to compensate us for processing the d... Learn more →

Personal Guarantee

If your business does not have sufficient commercial credit, you can provide us with a personal guar... Learn more →

Power of Attorney

When purchasing a vehicle through us, there is a point in the process where you'll have to assign po... Learn more →

Trying to reach us? Expect lengthy delays on email responses, and a 1-2 hour wait for Customer Service calls. Visit our Electronic Service Center to learn how to manage your account online or by phone.