Leasing Printers
One of the most cost effective ways of buying equipment is to lease it.
Leasing keeps down your initial expenditure and is 100% tax deductible in nearly all cases. It helps you to maintain your cash flow and enables the equipment to pay for itself whilst being used. You also have the option of owning the equipment at the end of the lease.
Leasing is available quickly and easily for all sizes of business, from sole traders to large multi-national companies.
The Advantages of Leasing Printers
Leasing has many advantages over other methods of financing capital equipment.
The main advantages are:
- Banking facilities can be left available for special projects and unforeseen expenses.
- Small initial outlay usually amounting to just one month’s rental.
- Payment can be spread over a period of two to five years, dependent upon the value and type of equipment.
- A single payment at the end of the lease guarantees retention of the asset for the remainder of its working life.
- If you want to sell the equipment after the lease has ended you will receive the sale proceeds.
- Rentals are fully tax deductible.
- Cash flow is protected and the asset earns revenue, therefore, paying off the lease.
- No need to be VAT registered.
How it Works
Leasing your equipment is simplicity itself! There are only a few, simple steps…
1. You get a quote from us based on the equipment you wish to purchase.
2. We send that quote over to Photolease who will then contact you (usually the same day.)
3. Upon approval (usually within 24hrs – often much quicker), documents are emailed or posted to you (your choice.)
4. Once the original documents are returned to Photolease, then the equipment can be released.
About Photolease
Photolease is an independent finance company which has specialised in leasing equipment to the imaging industry for over 25 years. Having worked with all the major suppliers and dealers, they have built a reputation based on integrity and understanding of the industry. Their desire to do business has helped all sorts of people, from aspiring photographers just starting out, to large studios with digital capture, output and lighting installations. In this age of impersonal service and credit scoring, they remain committed to dealing with their customers on a personal basis. This approach is not only a welcome alternative to the large financial institutions but gives them the flexibility to formulate individual solutions.
What We Think…
We, at System Insight, have been customers of Photolease for a number of years and always turn to them for our leasing requirements. As well as being competitive in the market, the ability to speak to someone who works in the same business, is flexible and provides a personal service, is of the utmost importance to us. With documents usually emailed within hours, no one else even comes close!
Frequently Asked Questions About Leasing
Q: Isn’t it better to buy outright?
A: No, not necessarily. There can be many reasons why you should protect your cash. E.g. Your cash is left available for unforeseen projects and unforeseen expenses; leasing is often fully tax deductible; cash flow is protected, to name a few.
Q: What happens at the end of the lease?
A: We will extend the agreement indefinitely on payment of a single, further, monthly payment. After that you can keep the equipment and will never have to pay any more.
Q: Isn’t leasing just for large companies?
A: No. Companies who lease do so because they know that there are better uses for their spare funds. Leasing is available for Sole Traders as well as large PLC’s.
Q: Do I have to insure the equipment?
A: Yes. It is your responsibility to keep the equipment insured for all risks for the term of the agreement. (This is something that most people would do anyway.)
Q: What if the equipment becomes faulty?
A: You would have the protection of the manufacturer’s and/or supplier’s warranty. Responsibility for repairs out of warranty would be yours in the same way as if you had purchased outright.
Q: What about VAT?
A: Rentals attract VAT in the same way that most equipment does. This can be reclaimed if you are VAT registered.
Q: What can be included in the agreement?
A: Leasing enables the whole solution to be financed. This can include hardware, software, installation, training and warranties.
Q: Can the equipment be upgraded?
A: Yes. The Equipment can be upgraded during the course of the agreement. Speak to us for further details.
Q: Is it possible to end the agreement early?
A: Yes. However, we recommend you speak to your accountant to make sure that it does not create an adverse tax position.
Q: Is there a penalty for settling early?
A: No. If you clear the account before it has run its full term, then there is a reduction in the full amount payable.