Financing Situation

[cathyshiner2003]

anyone have experience with leasing equipment ?

had a situation come up and looking for answers.

here's the deal:

our company is looking at purchasing several desktops.
I had one of my staff look after this. we found a computer company we liked. chose the systems and hardware that suit us and as we preferred to lease, this company directed us to a leasing company they recommended. let's say $5000 + $750 tax = $5750 total to be financed.

so we continued with the leasing company to finalize down payment, monthly payments, etc.

we received the final paper work to be reviewed and signed to go ahead. at this point the forms were sent to me to be approved. As I went through the payment schedule I noticed that the leasing company is charging us tax as well, based on the full amount ($5750)

so my question is... is this right ?
basically we're being double-taxed. this does not make sense at all ! Are we being scammed ?

We sent an e-mail to our contact the other day. She hasn't responded yet, although in the past she has responded the same day. This makes us even more suspicious. We also tried to contact the sales person. no reply either.

Can anyone enlighten me ?

[Arlene M Passalacqua]

I've never heard of taxes being applied to a loan. However, I notice your location is Canada, and I'm not as familiar with tax law there. Perhaps a call to the provencial authorities is in order?

[cathyshiner2003]

I was wondering about the country aspect.

anyway, the next call I make is to the government.
It just seems too strange.

thanks Peter

[Arlene M Passalacqua]

Originally posted by cyanide
I was wondering about the country aspect.

anyway, the next call I make is to the government.
It just seems too strange.

thanks Peter

Did you get an answer from them on this?

[cathyshiner2003]

Well, the person finally got back to us.

she said we're only being taxed once, but the extra amount they're chargin us, we could purchase another system.

just seems too fishy... so we said forget it.

We'll just buy it outright.