To give you an accurate lease payment, here are the three things we need to know.

First, tell us about your business.

What do you do? How long have you been doing this? Will this equipment generate revenue like a backhoe? Or is it more a necessity like a photocopier? Points here will be awarded for time in business. Even if you’re running a brothel, if you’ve had it going for years, you’ll get a better rate than a start-up oil company.

Secondly, what equipment are you looking to lease?

Credit managers will always smile upon conventional equipment they can easily re-deploy back into the market in the unlikely event you close your doors. Telephone systems, copiers, construction and shop equipment are heavy favourites. Even the brothel needing a photocopier will get a better rate than your local Chamber of Commerce wanting to lease an expensive painting from a local art dealer.

Finally, lease payments are influenced by how your company has handle credit in the past.

Leasing companies pull Equifax and Trans Union reports to see how companies repay their debts. If you’ve never borrowed before and your company has no payment history, the leasing company has nothing to go on and your rate will be higher. Co-signing on behalf of your business may help but that’s another story for another day.

In conclusion, a “quick quote” will give you a number, but be prepared for change.

And that change may or may not be in your favour. Your best bet is to ask yourself what figure your business can afford each month taking into account current revenue and expenses and then CALL the leasing company to discuss the points mentioned above. Our number is 1-877-955-1930 and I would be honored to learn more about who you are, what you do and how we can move you forward with the equipment you need.

Sometimes clients ask about purchasing equipment from American vendors.    In most cases, this is easy to do.  Where we have challenges is the American vendor often wants to be paid before they ship the equipment across the border.    Depending on the strength of your company’s credit, we may be able to send them up to 50% of the equipment cost but generally no more than that.  AND, you have to agree to start the lease.   If you’re planning on travelling down this road, be sure you know your American vendor well because once they have their 50% and the lease is started, it is non-cancellable.

Everyone has their own reasons for purchasing where they do….   If you would like to learn more about leasing equipment purchased in the US. and other international destinations, please give me a call and we can talk about it!