Part of Business Financing
Equipment financing spreads the cost of machinery, vehicles or technology over time. Compare a purchase loan with a lease using the same equipment price, useful life and ownership goal. A loan and a lease can lead to different ownership and end-of-term obligations. Funding that includes installation or taxes is convenient, but is not automatically the cheapest option.
Compare the 5 listed products below. Open a product for its terms and source links. Missing terms are not confirmed.
TD Canada Trust
Business asset financing with fixed or variable interest options and security suited to the financed purchase.
National Bank Equipment Finance
Equipment leasing presented as National Bank Equipment Finance on the former CWB National Leasing website.
RBC Royal Bank
Customized equipment leasing for a significant asset purchase or ongoing needs, including taxes and installation.
BDC
Financing for new or used equipment and associated expenses, with payments tailored to business cash flow.
BMO
Instalment financing for equipment, property investment or refinancing with fixed or variable rates.
Compare interest or lease charges, documentation fees, installation, required insurance and the purchase-option payment. Ask for the total of all payments, not just the regular instalment.
Equipment can become obsolete before financing ends. Check security requirements, early-exit terms and whether repayments remain affordable if the asset produces less revenue than expected.
Not automatically. Check the purchase option, buyout amount and return conditions in the lease.
Some providers include related expenses. BDC lists associated equipment costs, while RBC equipment leasing includes taxes and installation, subject to approval and the agreement.
Compare interest, origination charges, repayment deductions and the total cost.
Check repayment timing against your business income and seasonal changes.
Ask about collateral, personal guarantees and what happens if payments are missed.
Do not treat a factor rate as an annual interest rate. Ask the provider to explain the repayment calculation.
Confirm current fees, rates and eligibility directly with the provider. Product terms can change over time. A listed product is not a recommendation or a promise of approval.
Availability must be confirmed for your province or territory. If product-specific location or eligibility information is missing, it is not confirmed.
For further guidance, visit Financial Consumer Agency of Canada.
This is general information, not personalized advice. Read our editorial policy and affiliate disclosure.
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