Should I own or lease it?
There are important differences between buying a vehicle or piece of equipment (either outright or with a loan) and leasing it. Consider both options before making your decision, or speak to one of our lending specialists for help.
Financing with a loan or buying outright
- You own the equipment / grain bins
- Great if you want to keep your equipment long-term
- No worrying about wear and tear
- Customize your equipment / bins
- Once the warranty is up, you're in charge of repairs
Financing with a lease
- Early buy-out options
- No documentation fees
- Intergenerational transfer of wealth
- Limit your taxable exposure
So your accountant mentioned that you could benefit from leasing equipment as opposed to regular financing….we can help you with that!
Biggar & District Credit Union has a partnership in place with Calidon Leasing for situations such as this. Calidon produces the documentation, but you sign with a familiar face at the Credit Union.
Benefits of leases include tax benefits, cash flow savings, and transfer of wealth options. Calidon Leasing also allows for early buyout on leases without penalty, which makes them an industry leader. Visit https://calidon.ca/ to learn more!
Agricultural and Commercial Lending
Our lending team can help business owners find the right financing solutions for their businesses. Contact them for assistance with equipment and grain storage leasing solutions.