Answering your questions
Leasing allows your business to get brand new equipment or machinery without having to pay upfront for the cost. Instead, we purchase the equipment and then lease it to you and it is repaid in monthly instalments you so you can manage your cashflow more effectively. The asset is owned by us so we take the risks of depreciation and you can reclaim VAT and offset repayment interest against profit.
Leasing gives you the flexibility to be able to pick and choose your assets. It is ideal for businesses that want to minimise the risk of ownership and get the equipment they need without the initial outlay of buying outright.
The minimum is £25,000 and the maximum is £1.5 million.
Although Leasing looks and feels the same as Hire Purchase, you will not end up owning the asset at the end of the contract. You have the right to use the equipment for an agreed term, but ownership lies with us. Whereas with Hire Purchase, you have the option to purchase at the end of the agreement and take legal ownership of the asset.
When bringing you on board we will work with you to make sure the leasing arrangement you get is exactly what you need. This means that the length of time to have everything in place can vary depending on how complex your business situation and how long it takes to source the asset. We work flexibly, from the point of meeting you to understand your needs. Generally, we can set up a facility in a matter of days, however this depends on the speed in which we can access the information we need.
You can call us to have an initial confidential discussion with one of our advisors or to arrange a meeting. Once we understand your specific requirements, then we can provide an indicative offer to you. Following consideration by our credit committee we can make a credit offer to you.
The cost will depend on the purchase price of the asset and the payment period – the longer the payment period the lower the monthly payments. We typically offer up to a three year term. If you would like to request a quote, simply fill in our short form and we’ll send you the information you need.
We have experience in helping businesses in a large range of sectors
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