- Can I add additional equipment to my lease?
While you can't add additional equipment to an existing lease, we can replace your existing lease with a new one that includes the new equipment.
- Do I benefit from warranties placed on equipment?
Yes, all dealer warranties are passed on to you, the customer.
- When do my payments start and when are they drawn from my account?
Payments start on the day your lease is funded and continue on that same date for each billing cycle (monthly, quarterly, semi-annual, etc.). If you prefer a specific payment date, you can request one—if your equipment arrives earlier, we’ll simply apply a prorated payment.
- Can I cancel the lease?
While lease contracts are non-cancellable, you can replace the equipment or upgrade your equipment with a new lease at any time.
- Why am I receiving correspondence from National Bank Equipment Finance as opposed to the leasing company I dealt with at the start of my lease?
The terms and conditions of your lease allow a leasing company to assign the lease to a third party. The administration of your lease has been assigned to National Bank Equipment Finance Inc.
For administration purposes, we'll be in touch with you throughout the duration of your lease and are available to answer questions about your current lease.
If you have more leasing needs, please contact the leasing company you dealt with at the beginning of your lease.
- Can I move the equipment from one location to another?
Yes. Contact Customer Service at 1-888-599-1966 to notify us of the new location. As legal owners of the equipment, we must always know the physical location of the equipment. Also, tax adjustments may be required depending on where you're moving the equipment.
- Who owns the equipment?
National Bank Equipment Finance Inc. owns the equipment. We then lease the equipment to you.
- Can I sell the equipment?
Once you have exercised your option to buy out the lease, you have the right to sell the equipment. Prior to buying out the lease, the equipment belongs to National Bank Equipment Finance Inc. and can't be sold unless the loan is paid out or with prior written consent. For a lease buyout quote, contact the customer service centre.
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Equipment financing
Fuel your business growth with flexible financing and leasing solutions designed to keep the wheels of your company turning.
Industry expertise
National Bank Equipment FinanceTM offer a wide range of solutions tailored to your industry.
- Agriculture
- Commercial
- Construction
- Golf & Turf
- Forestry
- Healthcare
- Manufacturing
- Mining
- Transportation
- And many more!
Why choose National Bank for your equipment financing?
We offer simple and strategic equipment financing solutions that allow you to grow your business. We’ve spent decades working alongside Canadian businesses and have provided over $45 billion in funding.
For equipment dealers
Discover tools designed for dealers to optimize their equipment financing operations.
Generate instant quotes
With Equipment Financing Interactive, dealers can generate instant equipment financing quotes for customers, securely submit credit applications, access sales resources, and track application statuses with ease.
Online financing tool for clients
Let your clients apply for financing directly from your website with the Equipment Finance Interactive Dealer portal. Clients visiting your website can apply for financing and access a payment calculator that allows them to find a plan that fits their budget. We’ll even build the tool so you can add it to your website.
Tailored financing solutions
Our equipment financing experts will work with you to find a financing solution that fits your business needs and goals. Here’s how to get started:
- Select the equipment your business needs.
- Contact us to speak with one of our financing experts.
- We’ll structure the lease or loan based on your needs and coordinate with a dealer to deliver the equipment.
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Frequently asked questions
- How do I change my address for my lease?
If you've moved, please contact the customer service team at 1-888-599-1966 or customerservice@equipmentfinance.nbc.ca.
- I have changed bank accounts. How do I ensure that payments are drawn from my new account?
If you've changed your bank account, forward a void cheque from your new account, along with your lease number(s) to our Customer Service team.
You can either fax the cheque to (800)-882-0560, or email a scanned copy to customerservice@equipmentfinance.nbc.ca.
- Where can I send my correspondence?
Send all correspondence to:
National Bank Equipment Finance Inc.
1525 Buffalo Place
Winnipeg MB
R3T 1L9
Fax: (866)-408-0729
Email: customerservice@equipmentfinance.nbc.ca
- Can I trade the equipment currently on my lease for newer equipment?
Yes, if the new equipment is leased through National Bank Equipment Finance, our Customer Service team will gladly calculate a trade-up figure for you.
- What are my options at the end of my lease term?
You have four options:- Purchase the equipment at its current fair market value or your stated purchase option.
- Continue to lease at the original lease rate.
- Terminate your lease and return the equipment to National Bank Equipment Finance.
- Trade up the equipment for new equipment (on approved credit).
- What is the fair market value (FVM) for the purchase option?
Fair market value is the price we can sell your equipment for in today's market conditions.
- How is the buyout amount calculated?
We base your buyout on the number of payments remaining on your lease contract, plus the buyout option listed on your lease contract.
For the exact amount, please contact Customer Service at 1-888-599-1966.
- Where can I return my equipment?
If your lease is at expiry, please contact Customer Service at 1-888-599-1966 to arrange the return of your equipment.
- I have paid the buyout, and the lease has been terminated. Will preauthorized payments stop for this lease?
Yes, preauthorized payments will stop as soon as the lease is terminated.
- Will I be notified when my lease expires?
Yes. We'll send you a letter with your options approximately 60 days before the lease expires.
- Why have I had money withdrawn from my account prior to the commencement date of my lease?
A charge to your account prior to your lease start date may be one or both of the following:
Last payment on deposit: Typically, equal to one payment, which we may request at the start of your lease. We may credit it towards your purchase option or reimburse the amount when we terminate your lease.
Partial payment: We'll bill you for the number of days you've had possession of the equipment before the start of your lease. The charge is a prorated amount of your full lease payment.
- How are service and repairs on the lease equipment handled?
Your authorized equipment reseller will handle repairs and service in the same manner as if you had purchased the equipment. The manufacturer covers in-warranty service and repair costs. You're responsible for out-of-warranty work.
- What is past due interest?
It's the cost of not paying your lease payment on time. We charge you past due interest if you make your payment after your payment due date.
- Must I make payments monthly?
You can make lease payments monthly, quarterly, semi-annually, or annually. You'll determine your payment mode prior to signing the lease contract.
- What is an invoice fee?
We charge a fee of $5.00 to cover the cost of generating an invoice.
To avoid this fee, we encourage customers to set up Pre-Authorized Debits (PAD) from their chequing account. Your National Bank Equipment Finance Customer Service Representative would be happy to help you with this.
- What taxes am I being charged?
Lease payments are subject to both Provincial Sales Tax (PST) and Goods and Services Tax (GST) or HST.
If you or your business is tax-exempt, please provide National Bank Equipment Finance of Canada with the appropriate documentation, and we will adjust your lease payment accordingly.
- How can I make my lease payments?
You can make payments to National Bank Equipment Finance Inc. by cheque or by Pre-Authorized Debits unless otherwise stated.
Note: Pre-Authorized Debits may be a condition of your credit approval, in which case this would be the only acceptable payment method.
- I have sent the buyout, and the lease has been terminated. Will pre-authorized payments stop for this lease?
Yes, pre-authorized payments stop as soon as your lease is terminated.
- When are invoices sent?
We send invoices approximately two weeks prior to the due date of your lease payment.
- How do you calculate past due interest?
We calculate past due interest at two per cent per month with a minimum charge of $10.
- Can I finance more than one piece of equipment?
We work with companies of all shapes and sizes and will finance anything from:- A single piece of equipment
- A fleet of equipment
- Inventory for your equipment rental or leasing business.
- Does National Bank Equipment Finance offer seasonal flexibility?
We will work with you to find a solution that may include working capital injections and interest-only or skip payments during your business’s seasonal cycles. We may be able to provide working capital loans so that you can keep growing your business. We will also work with you to arrange interest-only or skip payments during spring break-up, fire season, or other seasonal slow-downs.
- How can I access equity in the equipment?
Sale leaseback:
If you already own a piece of equipment, but now need to re-capitalize that equipment, we’ll buy your equipment so that you can take out a loan and lease the equipment back from us.
Rental conversion financing:
We will help you use the payments you’ve already made on equipment against a full-out purchase of the equipment. We’ll fund the price of the rest of that purchase and get you back to work, now owning the equipment instead of renting it.
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TM NATIONAL BANK EQUIPMENT FINANCE is a trademark by National Bank of Canada, used under license by National Bank Equipment Finance Inc.
Services are provided by National Bank Equipment Finance Inc., a wholly owned subsidiary of National Bank of Canada.
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