0% Interest financing is a popular financing tool across the board - you see it in the auto industry, furniture, IT (such as your apple example). It has never been a big seller in the Office Equipment industry business due to the business model that the dealers/manufacturers sell with. Many dealers are selling FMV leases (we like the upgrades)and not highlighting to the customer the actual cash purchase price of the equipment. 0% works best when a customer see's a purchase price (let's say $36,000.00 and then has an option to make 36 monthly payments of $1,000). They perceive they are getting a deal because they are being told they are not paying any interest. In reality, Banks do not lend for free and all of us have to make money, so to incent the customer to purchase, the dealer/manufacturer agrees to be paid less than the $36K they quoted. The dealer makes a little less then they hoped, but they made a sale. Chance are to make the sale, you would have sold the $36K machine on a lease for $33K and using your standard rate factor, the monthly payment would have been the same $1000. In the end, it is all marketing.
US Bank/Konica are offering their 0% programs on an FMV lease. I have heard that they are having some sucess on this program, it a good way to differeniate yourself from the competition and it is always a good additional talking point.
You can offer a 60 month 0% if you like, but remember, the longer the term you want to offer, the larger the discount you will have to give to the leasing company. That is the main reason most 0% leases are on shorter terms.
Your leasing company should be able to put together a structure that will work for you, whether it be a $1.00 or FMV program. Just make sure you market it properly and give the proper disclosures (such as the FMV 0%).
If you have any questions, let me know and I would be glad to help you.
Art -
To your post, there is no issue on offering a 36 month 0% finance lease. Even on a $1.00 out lease, the leasing company normally owns the equipment until the lease ends. Even if the lease transfers title when the lease commences, the leasing company still have a security interest in the equipment and can repo it if the customer defaults.