Arranging a Lease through System Rentals is simple. We expect to manage every stage from your initial enquiry to the day you receive your new equipment.
Firstly you need to select the equipment and decide on a reputable supplier. Once you know the approximate cost of the equipment – contact us.
We’ll work out a monthly rental based on a 2, 3, 4 or 5 year agreement depending on the useful life of the equipment and your preference.
If the rental is acceptable to you, we’ll ask you for your company details and submit them to our underwriters for consideration.
Once accepted, we will complete a Lease Rental agreement for you to sign detailing the equipment you have selected. We will then contact your Supplier to arrange an invoice and delivery of the equipment to you.
When the equipment has been delivered we ask you to sign an Acceptance Certificate and we pay your supplier. Thereafter you first payment will be taken by Direct Debit
Will my business qualify?
As you would expect, the leasing industry has felt the effects of the credit crunch and we have seen wholesale changes. There are far fewer lenders active in the market and those that are have made changes to their underwriting requirements. Indeed, some lenders will not lend against certain types of equipment and most will want to satisfy themselves that the supplier is reputable and financially secure.
Due to the lack of trading history new companies (ie less than 3yrs trading) generally have great difficulty getting leasing. However, at System Rentals our policy is to try to help any fledgling business acquire the equipment they need.
Obviously the larger the transaction the stronger the applicant will need to be. The key information on which underwriters will rely is:
- Most recent Audited Accounts
- Search information – CCJ’s, adverse information etc
- Type of Business
As a broker we have several funding lines and understand each underwriters lending criteria. We will always discuss the options with you at the outset.
Call us on 0800 783 6735 or email us your details and we will get back to you.
