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How Leasing works
Leasing is a type of asset finance that allows you to use the equipment you need without having to buy it outright at the end of the agreement.
You pay us ‘rent’ for the full use of the asset over an agreed term, which can be tailored to your individual circumstances. Over this period, you will pay the full cost of the asset, including interest.
Then, when you reach the end of the agreement, you can choose to:
- Continue to use the asset by payment of a nominal annual sum
- Sell the asset and keep most of the income from the sale
- Return the asset back to us
- Sign a destruction notice if the asset has no economic value and is no longer in use and cannot be resold, for example IT equipment
Who is Leasing for?
Leasing is appropriate for all business types (sole traders, partnerships and incorporated entities).
Leasing is for businesses that need equipment but prefer not to purchase it outright. It's suitable for companies looking to use equipment, vehicles, or technology without a large upfront cost.
Benefits of Leasing include:
- Improve cash flow: You can quickly get the equipment you want without paying a large upfront sum. Instead, payments are broken into monthly instalments
- Flexibility: Repayment terms can be tailored to suit your individual circumstances
- Cash back: If you choose to sell the asset at the end of the lease, you keep a portion of the income from the sale
- Tax efficient: The lease payments you make in any financial year can be offset against your taxable profits. We would always encourage our customers to seek guidance from their accountants
An example of how Leasing could work for you...
In this case, ownership is not the primary concern because of the rate at which technology progresses, and there is a good chance you will want to replace the asset at the end of the agreement.
How to apply for a Lease agreement
Simply tell us what you want to buy, how much you wish to finance, your budget, and the term you prefer. Our finance agreement will be tailored to suit you with fixed payments over an agreed term.
With our in-house specialist underwriters providing quick decisions the funds will be paid into the supplier's bank account
Finance is secured against the asset and/or equipment. If you're unable to keep up with your payments, we may repossess the asset and/or equipment.
Products and services are subject to eligibility, status, terms and conditions and availability. All lending is subject to status and our lending criteria. The right to decline any application is reserved.
