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Leasing FAQs
Can we finance the Professional Services element of the IT Solution?
Yes, you can. However, we need to establish what percentage the Professional Services are of the total spend. Once we know that, there are several ways we can incorporate Professional Services into a lease.
How long can I finance the equipment over?
We can lease all the equipment over a 1 – 5 years period. Most deals are made over 1 – 3 years due to the lifespan of the equipment. Your payments can be made, monthly, quarterly, or annually.
Can I decide to keep the equipment at the end of the lease?
Yes, you do have the option to purchase the equipment at the end of your agreement. However, you also have the option to keep the equipment and continue the monthly payments or give the equipment back to us. Again, just another way that we offer flexible finance solutions for you.
How quickly can you arrange an IT equipment lease for me?
Applications can be accepted within a few hours and once documents are signed, the equipment can be delivered, and the agreement can be activated within 2 working days. We therefore aim to be fast in the turnaround of your agreement, and we will always get back to you within the first 24-hour period.
Is there an advance payment?
Often, we take a one-month deposit. However, to keep the monthly rentals lower you can pay more upfront if you wish, it will normally depend on your agreement.
I am a new start company will you credit clear me?
If you are a homeowner and have a clear personal credit history, we should be able to source funds for you, normally up to £50,000 for equipment including software. However, we might ask you for certain documents, but provided you meet our standard requirements, we will be able to credit clear you.
I am an established business trading over 3 years, what information do you need from me?
Often, we just look at the information in the public domain over on Companies House. However, there are times when we will ask to see bank statements, last year’s full audited accounts and management accounts. Again, these should all be standard documents that will speed up the process.
Can I use my own supplier?
Yes, you are able to choose a supplier of your choice, if they are therefore a reliable supplier for both us and you to use.
Does Technology Leasing provide supplier/ manufacturer recommendations?
Yes, we work alongside several suppliers of equipment, including computers, laptops and software. We would therefore be more than happy to put you in touch with a company who can assist. Also whilst alternatively offering you the option to provide your own supplier/manufacturer.
How competitive are your rates?
Having an extensive panel of funders allows us to access leading industry rates. Our view is to give the best rates possible and make sure we do more business together in the future. Building relationships with clients is something that we hold highly here at Technology Leasing.
I have been rejected by another finance company;
will you be any different?
Our wide panel of funders increase the probability of getting you approved! Get in touch now!
Can I settle the term agreement early?
Yes, if this is something you wish to do. The finance company will work out a settlement figure based on how many rentals are left to pay.
What happens if the equipment breaks, will it be insured?
The equipment must be insured as part of the agreement, this can be done by the funder or you can use your own business insurance. You as the customer are responsible for maintaining and servicing the equipment such as a laptop.
How the leasing process works?
What are the steps?
What are the benefits?
- The latest equipment
Always have the latest IT technology at your disposal by implementing a recycling strategy. Therefore you replace equipment at the end of the lease term - Cash flow
You will be able to keep funds in your business to be used elsewhere - Alternative lines of funding
You don’t have to use up a bank facility you already have - VAT
On rental agreements, the VAT is included in the rental, not in a lump sum - Pay for the equipment as you use it
Companies pay employees over time as they work. However, why pay all the cost for IT equipment in advance? - Tax planning
Using a lease rental agreement, 100% of your rental is deductible against your companies corporation tax
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