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.
$1 Buyout
$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
Administration Fee
This fee covers Marlin’s cost of filing property tax renditions, corresponding with the taxing aut...
Learn more →Advanced Rental Fee
Advanced Rental Fee
Depending on credit and other factors, some customers are required to pay an upfront advanced rental...
Learn more →Contract Payment
Contract Payment
This is the regular monthly/quarterly/annual payment amount, according to your contract.
Learn more →Delivery and Acceptance
Delivery and Acceptance
Some vendors require partial or full payment prior to the delivery of the equipment, which Marlin ma...
Learn more →Equipment Finance Agreement
Equipment Finance Agreement
An equipment finance agreement is a loan for the full invoice amount. You own the equipment and you ...
Learn more →Equipment Lease
Equipment Lease
An equipment lease is an agreement in which Marlin purchases the equipment and the customer retains ...
Learn more →Insurance Fee
Insurance Fee
Your lease contract may require you to have insurance that protects the equipment against all risks ...
Learn more →Interim Rent
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
Installment Payment Agreement
An installment payment agreement is a loan for the full invoice amount, used for the finance of soft...
Learn more →Late Charge
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
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
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
Personal Guarantee
If your business does not have sufficient commercial credit, you can provide us with a personal guar...
Learn more →Power of Attorney
Power of Attorney
When purchasing a vehicle through us, there is a point in the process where you'll have to assign po...
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