There are a number of advantages that make leasing an attractive option for many people.

• Offers fixed regular payments.
• Provides financing for 100% of the purchase including equipment, software and services (i.e. installation, freight).
• Allows people and businesses to pay for equipment as it is used to generate income.
• Conserves both working capital and bank lines of credit.

Any consumer, company, sole proprietorship, partnership, organization or association can apply to lease equipment.

Note: For Quebec residents only - Individuals cannot lease equipment through Equilease. Equipment can only be leased through Equilease if the lease is in the name of a company, organization or association registered with the government.

As the lessor of the goods Equilease (or its assignor) is the legal owner of the equipment during the lease period. Most leases are written with a $10 buy-back so that at the end of the lease period the customer owns the goods.

Equilease first reviews the credit information provided on the lease application. Upon approval, the lease agreement is prepared. When the equipment is delivered, Equilease pays the vendor and begins billing you according to the agreed lease payment terms and schedule.

Generally, no.

The monthly payment is based on the term of the lease, cost of the equipment and the type of leasing plan you choose. Equilease offers 24-66 month leasing plans.

Credit worthiness is based on a number of factors:

• Credit bureau rating.
• Type of business.
• Length of time in business.
• Financing conditions.
• References from financial institutions.
• Trade references.
• Bank reference.

For lease applications over $25,000, 2 years of financial statements may be required.

Leases cannot be cancelled.

Yes. You have the option of continuing the lease, purchasing the equipment or returning it to Equilease. Your lease plan will determine what your buy-out options are.

The GST and PST (where applicable) are calculated on a monthly basis based on your lease payment. This way, you are only financing the actual cost of the equipment; you are not financing the taxes.

For a personal lease, the designated lessee and guarantor (if applicable) must sign the lease. For a business lease, the lease must be signed by an authorized office of the corporation, by one of the partners in a partnership, or by the owner of a sole proprietorship.

The customer receives all the benefits of the buyer's warranties and is responsible for the care and maintenance of the equipment.

Leasing requires that all equipment be insured. If the customer's personal insurance does not cover the equipment, insurance can be arranged through Equilease.

Although most lease payments are fully tax deductible, you should seek the advice of your accountant to determine the best treatment for tax purposes.

Established bank lines of credit are unaffected and can be better-maintained and utilized for day-to-day operating expenses and unforeseen emergencies.

When you choose Affirm at checkout, you'll be prompted to enter a few pieces of information for a real-time loan decision. Upon approval, you can select from available payment plans, such as making four interest-free payments every two weeks or monthly installments with interest. Payments can be made online or through the Affirm app.

Affirm does not charge late fees, prepayment fees, service fees, or hidden fees of any kind.

Affirm performs a soft credit check when you apply for a loan, which does not impact your credit score. However, Affirm may report your payment history to credit bureaus, so timely payments can positively influence your credit, while missed payments may have a negative effect.

You can make payments to Affirm through their website or mobile app using a debit card, bank transfer, or check. Affirm also offers the option to set up AutoPay for automatic payments.