What value of equipment can I lease?
We can arrange leases from as little as £1000 with no upper limit
What terms can I lease equipment over?
Terms generally range from 1 to 5 years for general office equipment and up to 6 years for Telecom. The term usually depends on the useful life of the equipment (ie 3 years in the case of IT). We can quote on any term that suits your budget or use of the equipment.
What happens at the end of the lease?
You are required to give notice to terminate the lease. Having done so, at the end of the Minimum Period you will be given a number of choices regarding continued use, return or replacement.
Do I own the equipment at the end of the Lease?
With a Lease Rental you do not own the equipment at the end agreement. You are accounting for a lease rental and may be enjoying tax allowance on the basis that it is a Lease Rental – any pre-agreement to sell the equipment to you would contradict those benefits.
Will my Lease include service and maintenance?
No. You should arrange and pay for service and maintenance entirely separately from your Lease. If your supplier tells you that service (or any other ongoing costs) is included within your Lease please get confirmation from your broker or Leasing company.
Can I lease software?
Generally yes. Either as a part of the equipment supplied but we can also lease software-only provided our underwriters are comfortable with the type of software and its provider.
What can be included in my Lease?
Usually any ‘upfront’ costs – obviously the equipment itself plus software and some installation, peripherals, training and consultancy costs. However we would expect the equipment itself to make up the majority of the installation.
What should I check before going ahead with a Lease Rental?
Be sure that all the details are correct and that you understand the costs involved. Most Lease agreements will have a ‘Checklist for Lessees’ as part of the Finance and Leasing Association’s guidelines – make sure you consider each point carefully.
What if I cannot afford the rentals?
Contact the leasing company immediately to discuss your situation and possible remedies. Try not to default on your rentals as this may adversely affect your credit status.
Can I change the equipment during the term of the lease?
Yes you can by way of an upgrade procedure (subject to status). Your remaining liability can be transferred to a fresh Lease for new equipment. If your original equipment has any trade-in value this can be applied against the cost of the replacement equipment.
Call us on 0800 783 6735 or email us your details and we will get back to you.
