For companies and professionals to buy business goods such as motor vehicles, trucks, machinery or industrial equipment.
Under a leasing agreement, the finance company purchases the goods and maintains ownership of them, then leases the goods to you. At the end of the term, the goods are returned to the finance company, or you can make arrangements for ownership.
The goods are used as security, so your other assets are not tied up.
Leases and operating leases are often also used for equipment that will become obsolete, such as computers and phone systems. At the end of the term, an upgrade is often necessary. Instead of tying up your cash assets in obsolete equipment, it makes better sense to lease it and return it at the end of the term. A new lease can be used for the new equipment.
Deposit: No deposit is required.
Tax Deductions: The repayments are tax deductible provided that the equipment is used for incoming producing purposes or incurred as a result of carrying on a business.
Fixed Interest and Repayments:
Rates are fixed for the life of the term of the contract, so your repayments won’t change. Balloon repayments can also help to reduce repayments throughout the term.
Seasonal repayments can also be organized for some businesses.