Finance Department
FINANCE & INSURANCE
Looking for a financing or insurance solution? We’ve got you covered!
- Long Terme Leasing
- Lease to Purchase
- Financing
- Rental
We finance both NEW and USED equipment.
Below are types of equipment you may finance with Pierquip. Contact us for more information!
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Pierquip has access to a multitude of lenders, giving us flexibility for your financing terms, helping us find the loan solution that best suits your needs. We can also help you refinance your loan or adjust the term of your loan. No matter the type of loan you are looking for, rest assured that we will work on getting the best rate for you.
Start now by filling out our online financing application form!
Definition of different types of loans:
Leasing
A purchasing contract with an established risidual value up to 25% of the equipment’s value. Terms vary according to the borrower’s financial strength. The risiduel value is fixed and is the borrower’s obligation at the end of the financing term. There is always a possibility to request a refinancing at the end of the term; refinancing is subject to credit approval. Monthly installments, deposit (if required), as well as the residual value are all taxable.
Leasing/Return at Fair Market Value
The borrower leases a new equipment for a minimum term of 24 months, and has the option of buying the equipment at the end of the term, at its fair market value, established by the lender. The buyer may also return the equipment according to the lender’s return policy. Monthly installments, deposit (if required), as well as the residual value are all taxable.
Leasing/Return at an Established Value
The borrower leases a new equipment for a minimum term of 24 months, and has the option of buying the equipment at the end of the term, at a value established upon signature of the contract. The buyer may also return the equipment according to the lender’s return policy. Monthly installments, deposit (if required), as well as the residual value are all taxable.
Conventional Loan
A conventional loan is established upon a fixed term without a residual value. Furthermore, the borrower must pay the amount for taxes when taking possession of the equipment.
Contact our Finance Department for more information.