When purchasing equipment, you’re often presented with vendor financing options right at the dealership. This seems convenient, right? You get your equipment and financing all in one place. However, it’s worth asking whether this really is the best route for your business.
Dealer financing offices function similarly to brokers like us, using a common pool of lenders across Canada. The process may be standardized, but are you really getting the best deal tailored to your needs? Not necessarily.
When you opt for vendor financing, you’re essentially tied to that dealership. They want to close the sale, often pushing their financing not because it’s best for you, but because it maximizes their profit on both the sale and the financing.
Consider this: vendor financing might not be as flexible as you need.
What if you decide to trade up or switch dealerships in the future? Vendor ties could complicate this process. Moreover, some vendors offer low-rate financing options from manufacturers, which might sound appealing. However, these deals often come with hidden costs. What is advertised as 0% financing is rarely truly cost-free; the price you see likely includes extra fees to offset the low interest rate.
We approach things differently. We work with various vendors who refer us business, but we operate independently. This independence means we’re committed to finding you the best financing deal out there, one that genuinely suits your business’s financial goals and needs. We don’t pay referral fees to vendors because ultimately, that cost would fall on you.Our aim is to secure not just your current financing but to establish a lasting relationship, becoming your go-to equipment finance company for all future needs—regardless of where you choose to buy. We’re here to ensure that you have the flexibility to make the best equipment choices without being locked into restrictive financing terms.
You might be pleasantly surprised at what you find when you choose an independent broker like us, dedicated to your business’s success and freedom.
