Calculate the cost per month to lease purchase equipment from us
Cost per month lease
Leasing is provided Subject to Status. Prices indicated are for
example only, and may fluctuate at the lease providers discretion.Fill out our lease proposal form
Leasing has practical benefits too, plus commercial advantages that make it the best choice for most business situations :
Latest, more productive assets can be obtained – most leasing deals allow regular upgrades of equipment during lease periods
- Full use of equipment or vehicles without burden of ownership
- No large cash payouts “up front”
- Spreads the cost over the life of the asset
- Equipment pays for itself out of earnings
- Helps cash flow and increases profitability
- Easier budgeting – fixed regular payments aid financial control
- Investment opportunities can be taken as they arise – saves time in raising capital, quicker reaction to market openings
- Conserves capital and credit lines for other needs
- Tax efficient – lease rentals are fully tax deductible
Our leasing is arranged by Bathgate Leasing, a major equipment lease
finance company who arrange leases for a major range of equipment.
You could arrange for Bathgate to finance other equipment you require
as well. All our leasing is lease purchase, so you can spread the
payments but still own the equipment at the end of the lease.
To obtain an accurate lease rate or arrange finance please request
a proposal form to complete.
Please Note the following points:- On all proposals bank details are
required. For sole traders and partners the home addresses are required.
All rates quoted are Subject to Status
All payments are subject to VAT. Shorter term and / or larger deposit
will improve the likelihood of acceptance. The initial rental (advance)
is collected when the documents are signed, the remaining rentals
will be paid by Direct Debit commencing one month after delivery.At
the end of the lease - an additional months rental can be paid to
pass the ownership of the equipment onto yourselves.
Pennine accepts no responsibility for changes in Lease rates affected
by the leasing company, the figures given above are for guidance only
and may differ on the final lease contract.
Benefits of Leasing
- You can have new equipment that looks good, works well and runs efficiently.
- You can have the equipment you really need and not just what you can
- You can have the equipment now with only a small initial outlay and
earn profit straight away.
- You pay the balance in fixed monthly instalments, which are spread
over the agreed term of the lease.
- You can usually claim tax back as all payments can be allowed against
- You can have all this arranged quickly and easily without any hidden
*Availability of finance is subject to status.
How to calculate lease repayments
As an example, a customer who has been in business for 2 years requires
equipment worth £2500 + VAT, and wishes to pay for it over a 2 year
Firstly, we divide the equipment value by 1000. (£2,500 divided by
1000 equals 2.5) then multiply this figure by the rate per thousand
(see overleaf), which in this case will be £53.50.
Therefore 2.5 x 53.50 equals £133.75. This gives a monthly repayment
of £133.75 + VAT.
(Monthly payments fall due one month after the lease has commenced)
For a Payment pattern of 3 + 21 + 1 (this will vary through the different
Advanced Rental (equivalent to 3 x £133.75) of £401.25 + VAT (There
may be a document fee)
Followed by 21 payments of £133.75 + VAT.
Final Payment of £133.75 + VAT.
Lease payments may be subject to Tax Relief (Typically at 23%) If
so, we can calculate this by multiplying the total amount payable,
nett of VAT, by 0.23.
In the above example, the customer pays back £3353.75 nett of VAT
Multiply this by the Tax Relief figure eg 0.23 £771.36
Thus the lease would cost the customer in total - £2582.39 nett of
You can see in this example that the true cost of financing £2,500
worth of equipment over 2 years is therefore only £82.39.
Leasing is a COST EFFECTIVE way of acquiring equipment.
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