Leasing is one of the most common ways for businesses to finance the acquisition of commercial or technical equipment to be used as part of their operations.
There are many financial and operational reasons to lease instead of buy, including ensuring that you always acquire the very latest and most suitable equipment or technology for your needs, without the risk of being responsible for equipment that breaks down or becomes obsolete.
More than 80 percent of North American companies lease some equipment and technology.
Why lease instead of buy?
- Spread repayments over many months to make it affordable
- Leasing costs are lower when compared to buying equipment, often with no down payment
- Leasing doesn’t eat into your line of credit or borrowing capacity
- Repayments are tax deductible
- Tax is deferred over the term of the lease agreement
- Only acquire the equipment you need, with no need to purchase a depreciating asset
- Lease the very latest and most suitable equipment for your business
Lease financing is a very common financing solution for businesses that need to acquire equipment. Repayments are spread over several months and are tax deductible. The purchaser chooses the equipment and the vendor, then fills out a one-page credit application form. A follow-up is conducted within 24 hours, and a final decision is issued shortly thereafter.
Are you self-employed, an entrepreneur, or the owner of a small business? Lease financing is a quick, simple commercial financing solution available to self-employed workers and to all companies, especially small businesses and VSBs. Thanks to lease financing, self-employed workers and companies can start to grow and make a profit quickly, while the equipment is paid for as it contributes to making this profit.