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Laptop Leasing, contents

• An Overview of Leasing
• The Advantages of leasing
• General leasing Information
• And Finally...

Further reading

• Buying verses Leasing - Which is better?
• Schools, Hospitals, & Government Depts

An Overview of Leasing

Lease Finance/Business Finance

You want a new laptop but think that it's a lot to pay out in one go, now you don't have to worry about finding the lump sum, our laptop leasing facility enables you to make the most of your budget by spreading the cost of the laptop or laptops over three years. This can make a big difference to your cash flow if you are buying for a whole department or company. Because we deal with leasing providers who specialise in IT finance, you are able to lease the entire system including accessories and software. You can even upgrade your system before the end of your lease.

What is Leasing?

Leasing is a financial contract between your company and a leasing company. You will be committed to repay a given number of fixed rentals for the term of the contract, (for example 36 monthly payments of £50+vat). We supply the goods to you and we are paid by the leasing company, you are effectively renting the goods from the leasing company for the duration of the lease. The goods are owned by the leasing company at all times until the end of the lease when you have the option to buy via ourselves, see below . Because you are renting and not buying the goods you can claim 100% tax allowance on the payment.

Who can apply?

Lease finance is available to UK mainland business customers only, which includes sole traders, partnerships, limited companies, PLC's, national and local government departments, schools, universities, hospitals & charities. The average minimum price that would qualify for a lease is about £500 + VAT and there is virtually no upper limit. Due to the tax laws that apply to leasing we unable to offer this service to customers in Isle of Man, Republic of Ireland or channel Isles.
PLEASE NOTE : Small Businesses that have been trading for less than 18 months may have problems obtaining a lease due to the lack trading and credit history available to the leasing company to make an application decision.

Easy to arrange, Just Add to Basket

It is very easy to arrange a lease, just call us with your requirements or to get an instant quotation on a laptop or a package of different items, just add them to the shopping basket, this will give you a total weekly figure providing that the total cost is greater than £500 + VAT (unfortunately, we can not lease used equipment).

When you go to the checkout page, our system will automatically calculate the monthly figures and the equivalent weekly lease price for your basket contents, just click on the continue button to apply for a lease on these products. Please note that the figures quoted may change depending upon the credit rating and status of the applicant.

We handle all the paperwork and all you have to do is sign the appropriate forms which are sent to you.

Educational/public sector special rates

If you are looking to finance laptops for state schools, universities, national and local government departments and hospitals we can offer highly competitive rates or deferred payments. Please call to discuss your requirements.

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The Advantages of leasing

Cash flow - Keep your money working for you

Instead of having to pay out a lump sum you can spread the cost of your laptop and software over its useful working life.

No additional security required

Leasing is entirely separate from any bank lending or other credit arrangements you may have. By leasing equipment, your overdraft or bank loans are free for use in running your business.

Tax benefits - 100% allowable against pre-tax profits

Leasing is fully allowable against tax. All payments are 100% tax efficient. Traditional Hire Purchase is not as tax efficient and therefore may cost more in the long run even if it initially looks cheaper.

Fixed budgeting

No deposits are required and you know exactly what you will be paying per month for the term of the lease. Your lease costs are fixed for the duration of the agreement and as such are unaffected by interest rate changes or other external factors. You can include each year's rentals in your annual budget and remove any guesswork from your financial forecasting.

Upgrade facility

As your business grows, and technology is constantly changing, you can upgrade your equipment on lease at any point during the lease term, and either extend the term and keep the repayments the same or renegotiate a new lease.

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General leasing Information

How often do I pay ?

A deposit equal to 1 payment + vat (either a month or a quarter depending upon the lease) will be required on the acceptance of your business by the lease company and before any goods can be delivered, you will then pay monthly or quarterly over 3 years by direct debit. Other payment periods and options are available to Local and national government depts., schools , universities, hospitals etc, call for more details.

When do I pay?

The initial deposit (see above) will be required before the goods are delivered, you will then normally pay the first rental about 7-10 days or so after the goods are delivered. The second and subsequent rentals will follow at monthly or quarterly intervals according the lease agreement.

What happens if the laptop develops a fault?

Your warranty is still covered by the manufacturer, so you would speak to us first as the supplier. If you have a problem you must continue to pay the the rentals or you will break your contract with the leasing company. Think of it this way, if you got a loan from a bank to buy car, you would not go back to the bank to get your car fixed if it broke down, you would go back to the garage you bought it from.

What happens at the end of the lease?

When your lease term comes to an end you can elect to do one of the following:

1. You can either continue to pay the lease at a reduced rate and keep the laptop.
2 . Upgrade to a newer model and renew the lease.
3. Give the laptop back and end the lease.

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And Finally...

Important things to remember about leasing in general:

The equipment does not belong to you, hence you cannot sell it.

A document fee is charged by the finance company and is payable with the first rental payment.

You must keep the equipment insured under your insurance policy, if it is broken or stolen you will be liable for its replacement or repair.

Interest charges can be levied for late payment.

The rentals will only change if there is a change in taxation rates i.e VAT goes up or down.

The finance company are under no circumstances responsible for the quality or maintenance of the equipment and any warranty issues that may arise.

Always read the terms and conditions carefully before entering into any lease agreement.

* Weekly equivalent on the current entry level lease qualifying laptop which is the Acer TravelMate 7720 302G16MN V1

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