Should You Lease A Credit Card Terminal?

rent lease or buy credit card processing terminal

Want to lease a credit card terminal? Although the practice of renting and leasing has declined in recent years, some sales reps will still try to convince you that leasing is the right option for you. They’ll try to convince you to rent or lease a credit card terminal by reminding you that “you won’t have to pay any money up front” or “you’re guaranteed a replacement terminal if yours breaks.”

Those selling points might sound persuasive, but you should be aware that a renting or leasing a terminal will end up costing you hundreds, if not thousands of dollars over the life of your rental or leasing agreement.

With the fees you’ll end up paying to rent or lease a credit card terminal, you could purchase that same machine in a matter of months…if not immediately. In fact, you could probably buy more than one. Additionally, if you rent or lease a credit card terminal you may be required to purchase equipment insurance, which is another added cost. And, you may even have to return the terminal at the end of your lease or buy it out for not much less than it would have cost you to buy it in the first place.

Why Buying a Credit Card Processing Terminal Is Your Best Option

A terminal lease typically involves a 48 month lease agreement. The cost of that lease can run anywhere from $50-$100 a month. That is a long time to be paying for a terminal that doesn’t cost more than $800 these days (even the most expensive, high tech models). Why not just purchase your credit card processing terminal outright?

In fact, right now, if you buy your credit card processing terminal from Canada First, we will give you a $500 cash back on your purchase. For some models, this means that you will get your credit card processing terminal for free.

The cost of your purchase is completely tax deductible, and you won’t get stuck paying $2400 for a machine that costs as little as $500.00 in interest over the course of four years.

Even if you can’t afford to pay cash for your credit card machine, you can just charge it to your card. The interest paid is still tax deductible, and assuming you have a 14 percent APR, if you pay the same $50/month toward your credit card balance that you would have paid toward your lease, you’ll have the terminal paid off in less than eleven months. That’s a savings of nearly $2,000 that can be better directed into developing and expanding your business. It’s really a no-brainer.


If you’re currently locked into a lease, you probably think you won’t able to break the contract. However, these days, the Canadian Processors Code of Conduct provides you with a number of opportunities to cancel your lease without a penalty.

Nevertheless most of the time if If you want to purchase a machine you’ll have to find out when your rental or leasing term ends before you can walk away without a penalty. Email us or give us a call to discuss your situation you may be pleasantly surprised.


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