EQUIPMENT FINANCING
Financing and leasing on the machines we sell — arranged in Toronto, for contractors across the GTA and Ontario.
Buy the machine you actually need, not the one that fits this month's cash
A wheel loader or excavator is a working asset that earns across several seasons, and most contractors pay for it the same way — over time, out of what it earns. TerraX Equipment arranges that financing alongside the sale, so the quote, the application and the delivery all run through one dealer.
To be clear about what we are: TerraX is a dealer, not a lender. We prepare and submit your application to Canadian equipment finance partners, and they set the rate, the term and the approval. Anyone quoting you a guaranteed rate before seeing your file is guessing. What we can do is make sure the application goes in complete and that you understand the offer before you sign it.
Lease or finance?
Equipment loan
- You own the machine from day one; the lender holds security against it.
- Higher monthly payment than a comparable lease, but nothing owing at the end.
- Suits contractors who run a machine for its full working life.
Equipment lease
- Lower monthly payment for the same machine, since you are paying for use rather than the whole asset.
- End of term you buy out, return, or move up to a newer unit.
- Suits fleets that cycle equipment every few seasons or need to protect working capital.
Tax and accounting treatment differs between the two and depends on your situation — confirm with your accountant before you decide.
How it works
1. Get a machine quote
Pick the model and configuration you need. The quote — machine, attachments, freight, taxes — is what the financing is built on, so it comes first.
2. Put an application together
We tell you which documents your application needs before it is submitted, so it goes to the lender complete rather than coming back for pieces.
3. Review the offer
The lender sets the rate, term and structure. We walk you through what the offer actually means in monthly cost and end-of-term position before you sign anything.
4. Take delivery
Funding is released to us, the machine is prepped and delivered, and your parts and service support runs through the same dealer you financed with.
What lenders usually ask for
Every lender has its own file, but Canadian equipment finance applications tend to want the same things. Having these ready is the single biggest thing that speeds an application up.
- The equipment quote from TerraX
- Legal business name and registration or incorporation details
- How long the business has been operating
- Recent business bank statements
- Financial statements or tax returns for larger amounts
- Personal guarantee, common for newer businesses
Financing questions
Do you offer financing on construction equipment?
Yes. TerraX Equipment arranges financing and leasing on SDLG and Arcpath construction equipment through third-party equipment finance partners. You get a machine quote from us, we submit the application on your behalf, and the lender sets the rate and term based on your credit profile.
Can contractors finance equipment in the Greater Toronto Area?
Yes. TerraX Equipment is based at 189 Milner Ave in Toronto and works with contractors across the GTA and Ontario. Equipment financing in Canada is generally available to incorporated businesses and sole proprietors alike, though the documentation a lender asks for differs between the two.
Should I lease or finance my equipment?
A loan builds ownership from day one and the machine appears on your balance sheet. A lease usually means a lower monthly payment and an end-of-term choice to buy out, return or upgrade. Contractors who keep machines for their full working life usually finance; contractors who cycle equipment every few seasons often lease. Your accountant is the right person to confirm which treatment suits your books.
What do I need to apply for equipment financing?
Typically: the equipment quote, basic business details (legal name, incorporation or business registration, years in operation), recent business bank statements, and financial statements or tax returns for larger amounts. Personal guarantees are common for newer businesses. We tell you exactly what your application needs before it goes in.
Can I finance a UTV or motorcycle through TerraX?
Yes. AODES side-by-sides and Benda motorcycles can be financed as well, through consumer or commercial arrangements depending on whether the unit is for personal or business use.
Is used equipment eligible for financing?
Often yes, though lenders look at the age and hours of the machine and may shorten the term accordingly. Ask us when you request a quote and we will tell you what is realistic for the specific unit.
Start with the machine
Tell us what the work needs and we will put a quote together — then the financing conversation has something real to sit on.