Quick answer: The best equipment leasing company in Canada depends on the asset, transaction size, seller, desired buyout, business profile and whether you need a one-time lease or an ongoing equipment facility. Compare the lease contract—not only the monthly payment.
Commercial-interest disclosure: Mehmi Financial Group is a commercial financing broker and is included as a route for comparing potential providers. Mehmi may earn compensation when financing is arranged. This is not an independent ranking.
Key takeaways
- The end-of-term purchase option, residual or return conditions can matter as much as the payment.
- Provider fit changes with asset class, new versus used equipment, seller type, transaction size and business profile.
- Official provider pages show product capabilities, but only a completed credit review determines actual terms.
Broker insight: Two leases with similar payments can have very different economics if one has a larger end-of-term obligation, stricter early-payout language or a different treatment of taxes and soft costs. Normalize the assumptions before comparing.
How to compare equipment leasing companies
| Lease question | Why it matters |
|---|---|
| Who owns the equipment during the term? | Ownership affects sale, relocation, insurance and end-of-term rights. |
| What is due at the end? | Buyout, residual, fair-market-value purchase or return terms change total cost. |
| What cash is due upfront? | Deposit, first payment, taxes and fees change the real cash requirement. |
| Can payments match seasonality? | Some providers publish seasonal structures, but availability is transaction-specific. |
| What happens on early payout? | Lease contracts can be less flexible than a simple loan payoff; read the calculation. |
| Can used/private-sale assets qualify? | Seller, ownership, condition and valuation controls may differ from a dealer purchase. |
Equipment leasing providers and routes to compare in Canada
National Bank Equipment Finance
National Bank currently publishes both equipment leasing and loan solutions across a broad set of industries. Its public help centre explains that National Bank Equipment Finance owns leased equipment, and its current lease pages describe purchase, continuation, return and trade-up options at term end.
Useful comparison point: specialized equipment-finance platform with both leasing and lending routes, plus dealer and broker workflows.
RBC Equipment Leasing
RBC publishes equipment leasing for single and ongoing equipment needs and states that qualifying leases may finance up to 100% of equipment cost, including taxes and installation. RBC also publishes an Equipment PurchaseLine for recurring acquisitions.
Useful comparison point: bank-based lease option with an ongoing-purchase facility for qualifying businesses.
Scotiabank Equipment Financing & Leasing
Scotiabank's current equipment financing and leasing offering includes equipment leases, equipment finance lines and sale-leaseback. Its Scotia Leasing page also publishes specific transaction-size and term parameters for that product, which should be checked against the current business segment and jurisdiction.
Useful comparison point: lease, equipment-line and sale-leaseback capabilities within a commercial banking relationship.
TD Commercial Banking
TD Commercial Banking lists equipment financing among its financing services and describes equipment lines and term loans within asset-based lending. The exact lease or financing route depends on the relationship and transaction.
Useful comparison point: equipment finance alongside broader term lending, operating credit and asset-based facilities.
BMO Commercial Banking
BMO currently lists Equipment Financing and Leasing among its commercial banking solutions. Exact product structure and eligibility are determined through BMO's commercial banking process.
Useful comparison point: equipment leasing inside a broader commercial banking relationship.
OEM and captive finance companies
Manufacturers often maintain captive financing arms for their own equipment brands. This can be useful when buying new or late-model equipment through an authorized dealer, because the equipment, vendor and financing workflow are closely connected. Captives are less useful as a universal comparison when the purchase involves multiple brands or a private seller.
Commercial financing brokers
A broker such as Mehmi Financial Group is not the lessor. The value is in defining the equipment transaction, helping prepare the application and comparing potential routes where more than one provider type may be relevant.
Lease terms that deserve the most attention
End-of-term purchase option or residual
Do not treat every lease as “lease-to-own.” Read the end-of-term clause. National Bank's public help pages, for example, describe purchase, continuation, return and trade-up options depending on the contract. Other providers use different structures.
Taxes and accounting
Tax and accounting treatment depends on the lease and the business. Provider marketing language is not tax advice. Confirm deductibility, GST/HST timing and balance-sheet treatment with a qualified adviser using the actual contract.
Early payout and cancellation
Ask for the payout method before signing. Some lease agreements are non-cancellable or have settlement calculations that are different from the outstanding principal on a loan.
Soft costs
Delivery, installation, training, software and other costs may or may not be included. Confirm which items the provider will finance and what the business must pay separately.
Equipment lease versus equipment loan
| Question | Lease | Loan |
|---|---|---|
| Ownership during term | Usually remains with lessor, subject to contract. | Borrower generally purchases asset; lender takes security. |
| End of term | May include purchase, return, renewal or other option. | Loan ends when repaid; lender security is discharged. |
| Comparison focus | Payment + residual/buyout + return/payout terms. | Rate + amortization + security + prepayment. |
| Best fit | Depends on cash flow, replacement cycle and desired ownership. | Often suits assets the business expects to own long-term. |
Equipment leasing decision checklist
- Get a complete vendor quote and separate installation/soft costs.
- Decide whether you expect to own, replace or return the asset at the end.
- Ask for the exact buyout/residual and early-payout method in writing.
- Compare taxes, fees, deposits and first payment.
- Verify seller, asset age/condition and lien requirements for used equipment.
- Use the equipment financing calculator only as a planning estimate, then compare the actual contract.
- Review the broader equipment leasing service page before applying.
Authoritative provider sources
- National Bank — Equipment Financing
- National Bank — End or Cancellation of a Lease
- RBC — Equipment Leasing
- Scotiabank — Leasing & Equipment Financing
- TD Commercial Banking — Financing Services
- BMO Commercial Banking — Solutions
Editorial note: Written for commercial-finance education and reviewed against current provider pages on October 16, 2026. See Jodhbir Mehmi's author profile, our editorial standards and the website disclaimer. Mehmi Financial Group is a commercial financing broker and may receive compensation when financing is arranged. Provider products, eligibility and terms can change; verify current provider documentation before making a decision.