Leasing is a quick and simple way of getting hold of the equipment you need while leaving your cash ready for any unexpected events, or for things that you can’t finance like marketing or staff. If you spend your cash or use your bank facilities on equipment you run the risk of exposing your business to a lack of working capital – and wishing you had used leasing instead!
There are many other benefits that come with equipment leasing:
- Your rental is fixed for the term of the agreement, so no matter what happens with bank rates your rental stays the same; this allows you to budget for the new equipment in confidence knowing that as other costs increase around you your lease rentals will not.
- Leasing is flexible. We try to match the term of your lease to the useful life of the equipment, but sometimes technology advances so fast that you’ll want to update sooner. No problem. Through an upgrade programme we can upgrade your lease with a new one for new equipment.
- Tax allowable. Leasing is an operating expense and the full rental you pay can be offset against tax. Your accountant will be able to advise you to what degree your business will benefit.
- Once in place a Lease cannot be “called in” or withdrawn by the Leasing Company, unlike some bank facilities.
- No deposit. You only start paying rentals after your equipment has been delivered.