Equipment Leasing - The Best Way to Finance 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.
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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.
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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.
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FAQS
We answer your most pressing questions about equipment financing.
Leasing provides businesses of all sizes, including startups, small businesses, and large enterprises, with the flexibility to acquire expensive equipment without tying up significant capital. Whether your equipment needs involve machinery, technology, or other assets, leasing allows businesses to access the tools necessary for growth.
Leasing is a contractual agreement that offers several key benefits, including lower upfront costs, regular payments, and flexibility in terms. It’s especially useful for acquiring equipment for a specific period, ensuring businesses can access the latest technology or machinery without committing to ownership. Leasing also provides an option to upgrade equipment when it becomes obsolete quickly or renew the lease to suit evolving business needs.
In an equipment leasing arrangement, the lessor owns the equipment throughout the lease term. The lessee may use the equipment under agreed terms, with the option to purchase it at the end of the lease if specified in the agreement. This structure ensures businesses can evaluate the overall value of leasing without the full responsibility of ownership.
Leasing equipment involves selecting the asset, submitting an application, undergoing credit approval, and signing the lease agreement. Depending on the type of lease—such as operating leases or capital leases—the terms and conditions will vary. Once finalized, the equipment is delivered, and monthly payments commence as per the agreement.
Not all leases require a down payment. In some cases, businesses can access equipment through short-term leases or long-term leases without upfront costs. The leasing company evaluates the lessee’s creditworthiness to determine the standard terms, including any initial payment requirements.
Lease payments depend on factors such as the total cost of the equipment, the type of lease, the lease term, interest rates, and the lessee’s creditworthiness. Payments are typically structured as monthly installments, allowing businesses to manage cash flow effectively.
Yes, most leasing agreements include an option to purchase the equipment at the end of the lease term instead of returning the equipment. This option may involve a nominal buyout or a pre-determined amount. Businesses can evaluate whether purchasing the equipment aligns with their long-term goals and total cost considerations.
Leasing companies assess a lessee’s financial statements, credit history, business revenue, and the specific type of equipment being leased. These factors impact the terms and conditions of the lease, helping both parties make informed decisions.
Taxes like Goods and Services Tax (GST), Harmonized Sales Tax (HST), and Provincial Sales Tax (PST) are typically added to the monthly payments. The lessee is responsible for paying these taxes unless the equipment or business qualifies for exemptions.
Leasing equipment provides tax benefits, such as the ability to deduct regular payments as a business expense. It’s important to consult a tax advisor to understand how the lease impacts your company’s financial statements and to maximize any tax savings opportunities.
As the lessee, you are generally responsible for maintaining the equipment during the lease term. Leases often include warranties that cover standard repairs or defects, but it’s essential to understand the performance expectations and your responsibility as outlined in the agreement.
