So, what’s the Rate?

So, what’s the Rate?

When clients first talk to us about leasing, they always ask about the “rate.” As in, “what is the rate?” And to be honest, it’s not an easy question to answer. A lease is not like a mortgage where, if you qualify, you get the same rate as everyone else.

Financing rates to lease equipment vary depending on many different factors and they all have to do with YOUR specific business. From the time you incorporated the business, to what it does, to how you pay the company’s bills. And then there’s the type of equipment, the cost, the term, etc.

Often times people get very crabby with my team and say something like… “Whoa! That’s a lot of questions. I just want to know how much the payment is?” So after 30 years of trying to explain, I have come up with the PERFECT analogy.

Please follow along below….. One day a good lady friend comes to me and says….. “Can you please go buy me a new outfit? I have to go out” So, I head off to a nice ladies shop and pick out a lovely spring frock in pretty pastel colours with a cinched waist and a full skirt that settles just above the knee. Oh, and a matching purse and peek-a-boo heels. And yet, when she sees my offering, she yells at me and says….. “What is this? I am going on a field trip to the zoo with my youngest child and his grade 2 class. How on earth is this appropriate for a rainy day at the Calgary Zoo with 25 sticky, rambunctious seven year olds?” Of course, she has a point. It is not appropriate at all! But with so very little information to go on, the chances of being correct are incredibly low. So, the moral of the story is this – the more information we have about your company, the more accurate we can be with a lease payment quote.

We will always need:

1. How long have you been in business?

2. What does your business do?

3. What equipment are you buying?

4. Is the equipment new or used?

5. Is the business profitable?

For more tips on the complexities of leasing equipment, please download my free e-book at

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