Quick answer: For a used machine, request available history and appropriate inspection information. For any unit, ask what warranty or support is included and obtain the terms in writing.
At-a-glance financing chart
| Decision factor | What to review | Why it matters |
|---|---|---|
| Business capacity | Revenue, cash flow, existing debt and recent banking | Shows whether the payment fits normal operations |
| Asset quality | Age, condition, resale value, hours or kilometres | Helps determine collateral strength and term |
| Seller & paperwork | Invoice, serial/VIN, ownership and vendor details | Reduces funding delays and fraud risk |
| Structure | Down payment, term, residual/buyout and payment frequency | Shapes affordability and total cost |
Compare acquisition cost, condition and operating needs before requesting financing for new or used equipment.
For construction business and contractor financing needs, review construction and contractor financing.
Compare machines that can do the same work
When reviewing options with Edge Equipment, start with the capability your jobs require. Ask the supplier to confirm the specifications and attachments for each quoted unit. A price comparison is less useful if the machines differ materially in capacity or included equipment.
For heavy machinery equipment finance considerations, see heavy equipment financing.
Review condition and support
Do not assume a new machine needs no maintenance or that a used machine will necessarily cost less over its operating life.
Build two complete budgets
For each option, include purchase price, quoted delivery, applicable taxes and necessary accessories. Separately estimate insurance, planned maintenance and a reasonable operating reserve. Keep uncertain future repair costs clearly identified as estimates rather than adding them to the supplier's confirmed price.
Check financing on each specific unit
Send Mehmi Financial Group the actual quotes and business details if you want options reviewed. Equipment age and condition may be relevant to the review, but do not assume a particular term, rate or approval outcome for either option. Compare any offers using total repayment and upfront cash, not just the recurring payment.
For an overview of loan and lease structures, consult the equipment financing overview.
Choose for the business's use
Consider how often the equipment will work, how long you plan to keep it and the consequences of downtime. Use qualified technical advice for condition and suitability. Confirm supplier availability and financing conditions before proceeding, and update the application if you switch units or change the purchase scope.
For general background, see BDC's financing guidance. Product terms described by other providers do not represent an offer from Mehmi Financial Group.
Explore financing for your Edge Equipment Sales quote.
Educational information only, not legal, tax or financial advice. Financing is subject to credit and lender approval. Eligibility, structure and terms vary.
For ways to use equity in existing equipment, review equipment refinancing and sale-leaseback.
Related resources: Review equipment loans, equipment leasing, and our equipment financing by equipment type directory.
Authoritative references
- Innovation, Science and Economic Development Canada: Canada Small Business Financing Program:
The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders.
- BDC: Concetta Farina, Account Manager
Eligibility, lender criteria, tax treatment and terms for financing new vs used construction equipment vary by lender and can change. Confirm current details with the lender or vendor and review the final loan or financing documents before you commit. Approval is subject to lender review.