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Frequently asked questions

Questions about your equipment lease? Chances are you'll find answers here.

Contact information & address changes

  1. How do I change my address for my lease?

    If you've moved, please complete the Change account information request form.

  2. I have changed bank accounts how do I ensure that payments are drawn from my new account?

    If you've changed your bank account, forward a void cheque from your new account, along with your lease number(s) to our Customer Service team.

    You can either fax the cheque to (800) 882-0560 or email a scanned copy to customer.service@nationalleasing.com

  3. Where can I send my correspondence?

    Send all correspondence to:

    National Leasing Group Inc.
    1525 Buffalo Place
    Winnipeg MB
    R3T 1L9

    Fax: (866) 408-0729
    Email: customerservice@nationalleasing.com

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Contracts

  1. Can I add additional equipment to my lease?

    While you can't add additional equipment to an existing lease, we can set up a new lease to co-terminate with your existing one.

  2. Do I benefit from any warranties placed on the equipment?

    Yes, all dealer warranties are passed on to you, the customer.

  3. When do my payments start and when are they drawn from my account?

    Your lease payment is due and we withdraw payment on the first of each applicable month in your payment schedule (monthly, quarterly, semi-annually, or annually).

    You can't change the withdrawal date.

  4. Can I cancel the lease?

    While lease contracts are non-cancelable, you can replace the equipment or upgrade your equipment with a new lease at any time.

  5. Why am I receiving correspondence from National Leasing as opposed to the leasing company I dealt with at the start of my lease?

    The terms and conditions of your lease contract allow a leasing company to assign the lease to a third party. The administration of your lease has been assigned to National Leasing.

    For administration purposes, we'll be in touch with you through the duration of your lease and are available to answer any questions about your current lease. If you have additional leasing needs, please contact the leasing company you dealt with at the beginning of your lease.

  6. Can I move the equipment from location to another?

    Yes. Contact National Leasing by completing this online form to notify us of the new location. As legal owners of the equipment, we must know the physical location of the equipment at all times. Also, tax adjustments may be required depending on where you're moving the equipment.

  7. Who owns the equipment?

    National Leasing owns the equipment. We lease the equipment to you.

  8. Can I sell the equipment?

    Once you have exercised your option to buy out the lease, you have the right to sell the equipment. Prior to buying out the lease, the equipment belongs to National Leasing and can't be sold. (For a lease buyout quote, use this form.)

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Lease expiry, trade ups and buyouts

  1. Can I trade the equipment currently on my lease for newer equipment?

    Yes, if the new equipment is leased through National Leasing, our Customer Service team will gladly calculate a trade-up figure for you.

    Use our online support form for a quick trade-up quote!

  2. Can I add additional equipment to my lease?

    While you can't add additional equipment to an existing lease, we can set up a new lease to co-terminate with your existing one.

  3. What are my options at the end of my lease term?

    You have four options:

    • Purchase the equipment at its current fair market value or your stated purchase option
    • Continue to lease at the original lease rate
    • Terminate your lease and return the equipment to National Leasing
    • Trade up the equipment for new equipment (on approved credit)
  4. What is the “fair market value (FMV)” for a purchase option?

    Fair market value is the price we can sell your equipment for in today's market conditions.

  5. How is the buyout amount calculated?

    We base your buyout on the number of payments remaining on your lease contract, plus the buyout option listed on your lease contract.

    For the exact amount, please request a buyout quote using our online support form.

  6. What is an early option?

    Some leases include an "Early purchase option," which allows you to buy your equipment for a set amount prior to the end of your lease.

    If applicable, we'll specify the early option on your lease contract.

  7. Where can I return my equipment?

    If your lease is at expiry, please contact us (use our online support form) to arrange the return of your equipment.

  8. I have sent the buyout and the lease has been terminated. Will preauthorized payments stop for this lease?

    Yes, preauthorized payments will stop as soon as the lease is terminated.

  9. Will I be notified when my lease is at expiry?

    Yes. We'll send you a letter with your options approximately 60 days before the expiry of the lease.

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Payments, invoices and service fees

  1. Why have I had money withdrawn from my account prior to the commencement date of my lease?

    A charge to your account prior to your lease start date may be one or both of the following:

    • Last Payment on Deposit: typically equal to one payment, which we may request at the start of your lease. We may credit it towards your purchase option, or reimburse the amount when we terminate your lease.
    • Partial Payment: we'll bill you for the number of days you've had posession of the equipment before the start of your lease. The charge is a prorated amount of your full lease payment.
  2. How are service and repairs on the leased equipment handled?

    Your authorized equipment reseller will handle repairs and service in the same manner as if you had purchased the equipment. The manufacturer covers in-warranty service and repair costs. You're responsible fo out-of-warranty work.

  3. What is past due interest?

    It's the cost of not paying your lease payment on time. We charge you past due interest if you make your payment after your payment due date.

  4. Must I make payments monthly?

    You can lease payments monthly, quarterly, semi-annually, or annually. You'll determine your payment mode prior to signing the lease contract.

  5. Why have my payments increased?

    In most cases, your payment has increased because we've added an asset protection fee to your lease contract.

    We automatically add this fee to your lease payment if we haven't received confirmation that you have insurance coverage for the equipment through another insurance provider.

  6. What is an invoice fee?

    We charge a fee of $5.00 to cover the cost of generating an invoice.

    To avoid this fee, we encourage customers to set up Pre-Authorized Payments (PAP) from their chequing account. Your National Leasing Customer Service Representative would be happy to help you with this.

  7. What taxes am I being charged?

    Lease payments are subject to both Provincial Sales Tax (PST), and Goods and Services Tax (GST) or HST.

    In the event that you or your business is tax exempt, please provide National Leasing with the appropriate documentation, and we will adjust your lease payment accordingly.

  8. I have received a statement, when was the invoice sent?

    We don't issue statements on our customers' accounts. You actually received your invoice and not a statement.

  9. How can I make my lease payments?

    You can make payments to National Leasing Group Inc. by cheque or by Pre-Authorized Payments unless otherwise stated.

    Note: Pre-Authorized Payments may be a condition of your credit approval, in which case this would be the only acceptable payment method.

  10. I have sent the buyout and the lease has been terminated. Will pre-authorized payments stop for this lease?

    Yes, pre-authorized payments stop as soon as your lease is terminated.

  11. When are invoices sent?

    We send invoices approximately two weeks prior to the due date of your lease payment.

  12. How do you calculate past due interest?

    We calculate past due interest at two per cent per month with a minimum charge of $10.

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