The Best Way to Finance and Lease Equipment in Canada
Whether you’re a well-established business or are just getting started, you can benefit from exploring lease-to-own finance options. Apply with Equipment Finance Canada, and we’ll provide an answer within 24 hours.
Start application
How it works
Our 3-step process
We make securing your leaseback a hassle-free process. Just follow these three easy steps.
Apply Online
It takes less than five minutes to fill in our application form. Share your equipment requirements and business details online from any device.
Get Approved
Our team will review your application and work with our network of trusted lenders to find the best financing options for you.
Received your equipment
Once approved, all you need to do is collect your equipment and continue growing your business. Our team will handle the rest.
Why choose lease to own
Spread the cost of high-ticket equipment
Equipment lease financing reduces the financial strain on your business by offering an alternative to buying equipment outright. The lender purchases the equipment and leases it to your business, with the option to transfer the title offered at the end of the term.
Apply Now
A simplified leasing process
Between complex financial terms and the overwhelming variety of options available, navigating the leasing process can be enough to make your head spin. At Equipment Finance Canada, we’ve simplified the process for you by managing all applications, searches, and negotiations on your behalf.
A wide range of options
We secure the best deal for your business, exploring all available options, including skip payment, master, capital, operating, and stretch leases.
On your terms
At the end of the term, you can buy out your equipment for as little as $10 or upgrade your equipment and continue leasing.
Access to Canada’s Leading Lenders
Trusted. Vetted. Secure.
Get access to our wide network of leading banks, financial institutions, and private lenders across Canada. Our team of experts connects you to the best rates available so you can get back to doing what you do best.
Find the best financing option for your needs
Discover a range of financing options for new and used equipment. We work with you to find the right tailored solution for your business.
Our experts guide the application process
Our leasing agents submit your application on your behalf, ensuring all the I’s are dotted and the T’s are crossed. Our team of experts is on hand throughout the process to offer guidance and support.
You receive a credit decision within a day
There’s no waiting around when you apply for equipment financing through EFC. We work directly with lenders to obtain credit decisions within 24 hours and notify you as soon as a decision has been made.
Work with experienced, knowledgeable, trusted equipment financing experts
Our mission is to make accessing equipment financing easy, quick, and stress-free. With years of experience working with businesses across transportation, agriculture, construction, and other commercial industries, our team is best placed to provide tailored solutions that meet your specific needs.
91%
of submitted applications approved
24-hour
turnaround for approvals upon submission
Apply today for 24-hour approval
Skip the queues with Canada’s most trusted site for equipment finance.
Apply Now
FAQS
We answer your most pressing questions about equipment financing.
Equipment leasing is available to businesses of all sizes, including startups, small businesses, and large enterprises. Leasing is often an attractive option for companies looking to preserve cash flow while acquiring essential equipment.
Equipment leasing offers several benefits, including lower upfront costs, flexibility in terms, and the ability to upgrade to newer equipment at the end of the lease term. Leasing can also help manage cash flow and may offer tax advantages.
In an equipment leasing arrangement, the leasing company (lessor) retains ownership of the equipment throughout the lease term. The business (lessee) has the right to use the equipment for the duration of the lease under the agreed terms.
The equipment leasing process typically involves selecting the equipment, submitting a lease application, undergoing credit approval, and signing a lease agreement. Once the lease is finalized, the equipment is delivered, and lease payments begin as per the agreement.
A down payment is not always required for equipment leasing. Some leases may require an initial payment or security deposit, while others may offer 100% financing, depending on the leasing company and the lessee's creditworthiness.
Lease payments for equipment leasing are determined based on several factors, including the equipment's cost, the lease term, interest rates, and the lessee's creditworthiness. Payments are typically structured as monthly installments.
Yes, most equipment leasing agreements offer a purchase option at the end of the lease term. This can include a pre-determined buyout amount or a nominal purchase option as low as $10.00.
Creditworthiness for equipment leasing is determined based on the lessee's credit history, financial stability, business revenue, and the type of equipment being leased. Leasing companies will review these factors to assess risk and set lease terms.
Goods and Services Tax (GST)/Harmonized Sales Tax (HST) and Provincial Sales Tax (PST) are typically applicable to equipment leasing. These taxes are generally added to the monthly lease payments, and the lessee is responsible for their payment. Your business or equipment may be exempt from PST depending on the status.
Equipment leasing offers tax benefits, such as deducting lease payments as a business expense. It's important to consult with a tax advisor to understand how lease payments should be accounted for and what tax advantages may apply.
As a lessee, you receive all the benefits of “buyer” warranties and are therefore responsible for the care and maintenance of the equipment.
