Does Your Mississauga Business Need To lease Finance New or Used Equipment?
Mississauga Ontario equipment leasing can be provided for most types of new and used equipment sold on the market today.
This can also include such things as software, costs associated with installation and delivery, and other forms of what we would call soft costs that are related to the asset you’re acquiring.
Equipment lease financing involves the purchase of the asset you’re trying to acquire by a leasing company who in turn provides you with an equipment lease term and use of the asset.
At the end of the lease term, you can structure the lease so that the asset is returned to the leasing company without further obligation or you can purchase the asset.
One of the advantages of Mississauga equipment leasing is the number of financing options that are available to businesses in the area.
Ontario being a large population and business area is home to several different equipment leasing organizations, many of which have head offices located in the southwestern part of the province.
And while many leasing companies do provide national service coverage, there are regional differences with Ontario being a preferred part of their portfolio.
This variety of leasing companies also covers the full spectrum of leasing requirements including equipment types and credit and financial profiles.
Used equipment leasing for both purchase and refinancing of existing equipment are both available as well, although refinancing or sale and lease back transactions more than 6 months passed the date of purchase are more difficult to secure, especially for businesses under financial duress.
Get Mississauga Equipment Leasing That Meets Your Business Needs
Mississauga equipment leasing terms will typically range from 24 to 66 months. Newer equipment will be able to secure longer leasing terms on average compared to used although used equipment that is in good condition and has considerable remaining useful life can still command rates and terms similar to new.
For amounts under $50,000, leasing companies have more generic requirements for financing and will tend to consider a very broad group of assets.
As the amount of financing increase, the more specialized leasing companies tend to get in order to better manage the risk that comes with holding more debt in one asset or small group of assets.
If you’re in need of a Mississauga equipment lease for new or used equipment, please give us a call so we can quickly assess your situation and provide relevant equipment leasing options for your immediate consideration.