This is my first equipment financing deal.

Received a proposition letter for:

Transaction cost: $97,000.

Lease Structure: Lease.

Term: 60 months.

Monthly Payment: $1,962.17.

My account manager states that this is such a good deal (we matched a previous offer) that neither of us will make money. I don't see how I facilitate $97,000 and I don't make money on the deal.

The finance company wants a good faith deposit of $1,962.17 (1st month's payment) to move forward. Is this the norm?

Your input is greatly appreciated.

Thank you in advance,
Mike
msla*****er@sla*****er.com