Leasing Myths

  1. Leasing is for customers who can’t afford to pay cash or get traditional financing. Not true. Companies lease because they understand the fundamental principle behind “lease what depreciates, buy what appreciates!” For many businesses, operating capital is more valuable than cash tied up in equipment. In most cases, leasing actually costs less than traditional financing, and when the tax advantages of leasing are considered, payment are usually lower than traditional financing.
  2. Leasing is complicated. Today, leasing is common practice for business, and made simple at Polaris. With more than $103 billion of financing in place with Canadian businesses and consumers, the asset-based financing industry is the largest provider of debt financing in this country after the traditional lenders. Qualifying for and completing a lease transaction is, in most cases, easier than traditional bank financing.
  3. Getting approval is difficult. While good credit will increase the likelihood of approval, many factors are considered such as time in business and comparable business credit. Polaris Leasing has a very high rate of credit approval.
  4. I can only lease ‘new’ equipment. You can lease both new and used equipment. The lease is tailored to the customers’ needs.
  5. There are additional expenses at lease end. If all requirements concerning the condition of the equipment are fulfilled, there is no further obligation at lease end. You may return your equipment, purchase the equipment, or lease other equipment.