Frequently Asked Questions
Our FAQ’s will answer many of the questions you may have about Westana and our equipment leasing process.
What Can I Lease?
The quick is answer is pretty much anything. Almost all business related equipment can be leased, big or small, new or used, from computers and construction equipment to I.T. equipment and trucks.
When Would I Call Westana?
When you are looking to purchase costly equipment or vehicles for your business. Our leasing specialists will work with you to find a suitable leasing solution.
How Long Does It Take For Approval?
We endeavour to provide quick turnaround time with most approvals issued within a 24 hour period.
Is It Possible To Get Pre-Approved So I Know How Much I Have To Spend Ahead Of Time?
Yes, pre-approval can be done.
Can I Purchase Equipment From A Supplier Online Or From A Private Seller?
Yes, our leasing specialist will work with you to purchase from either online suppliers or private sellers. We can help you through the process to make sure the correct information is received.
Do I Have To Provide My Personal Guarantee?
All of our leases are Joint and Several between all parties.
Where Does Westana Get Their Lease Funding From?
Westana works with Canadian lenders who are well trusted and have a proven history in their respective market. These lenders typically depend on agents and brokers to distribute their leasing/financing services. We deal with many lending sources, from large banks to credit unions and small private lenders.
What Is The Minimum Amount I Need To Spend To Qualify For Westana’s Services?
Generally we lease at a minimum of $15,000 but we are flexible.
What Happens At The End Of My Lease Term?
There is a nominal fee of $100 to buyout your lease with a bill of sale provided.
What if I Have Problems With The Equipment I Leased?
If problems occur with the equipment, you will need to contact the equipment vendor to arrange repairs or service.
Do I Need To Insure The Equipment?
Yes. It is the responsibility of the person leasing the equipment to make sure it is fully insured.
How Will Your Assess My Credit Rating?
There are a variety of factors; how long you have been in business, financial condition, type of business, credit history and references from financial institutions and credit bureau ratings.
What Information Will You Require For My Lease?
The information and supporting documents required will depend on the specific circumstances of your deal. In all leasing situations we require basic information about your business and the equipment you are seeking to lease. If further information is required one of leasing specialists will follow-up with you.
What Lease Terms Are Available?
Lease terms are flexible depending on your needs, beginning at a 13 month term.