The Top 5 Trends That Have Shaped the Canadian Leasing & Financing Industry

The Canadian finance and leasing industry plays a pivotal role in the Canadian economy. A lot of businesses thrive upon this industry so as to successfully manage their operations and achieve growth. Recently, however, this industry has undergone some serious changes in its trends. These changing trends greatly concern the Canadian business owners who wish to get long term financing for their equipment.

Leasing Industry Trends

Following are some of the changing trends that are seen in Canada’s leasing & financing industry:

1. The base of the leasee and the lender have transformed drastically. Business owners should always keep in mind that in Canada there are more than 200 lease or asset based lenders. This means that business owners have a myriad range in front of them to decide from. The gist of the story is people should be well aware of the lender’s credibility when it comes to equipment financing.
2. Whether it is a machine that you want to finance, a vehicle or an equipment, nowadays there is a wide range for the people to choose from. Moreover, the lenders have become somewhat specific and specialised as per the different market segments. Another key trend that has emerged in the market is that of mergers and acquisitions. Nowadays, Canada has become the home of a large number of M & A deals.
3. Another trend that is catching up is that of average Canadian business borrowers being more informed and selective while choosing their financing or leasing partner. Customers today are gifted with a much greater insight about various key aspects for instance; taxation benefits, lease advantages and their rights to parley on various lease related terms. This has made the industry all the more competitive and customer focused.
4. Availability of countless financing products has also benefitted the Canadian leasing and financing industry. Today, one can get a lease along with various tax-oriented advantages. Borrowers belonging to the technology and heavy equipment sectors have now turned towards operating leases. Lease products are evolving and becoming better and better with each day.
5. A brawny customer leasing base in the vehicle industry has always been a driving force of the leasing and financing industry and will stay so in the future too. Moreover, lending institutions now provide what is known as a ‘full service’ lease that consists of different products mainly; maintenance, service, and insurance in one whole package.

The Canadian equipment leasing and financing industry has totally revolutionised due to these trends. They have offered creativity and evolution thus creating a positive environment for the Canadian economy to bloom.

We, at Canada Equipment & Truck Loan, offer the best truck, trailer and equipment leasing/financing options with the best terms and rates in town. Our carefully designed leasing plans have enabled various Canadian business owners to grow and realise their dream. Call us anytime to get more info about our trailer financing services.