We have teamed up with Kennet Equipment Leasing, one of the UK’s leading providers of business equipment finance and asset leasing, to enable our customers to invest in the very latest EPoS Solutions without drawing on critical working capital.
Asset Leasing and Business equipment finance (HP) provides the flexibility to preserve cash and other facilities to use later and in other areas of your business, whilst continuing to invest in the equipment and other assets that your business requires. Some view these forms of finance as being more affordable and beneficial than an outright cash purchase.
The benefits of financing your new EPoS Solution include:
Peace of mind - pay monthly amounts that do not change throughout the term of the lease
Ability to invest in quality, efficiency, and reliability - invest in the best quality EPoS Solution, not just the cheapest.
Financial planning – protect existing lines of credit and preserve cash flow for future business growth - save your cash and money in the bank for other investments.
Tax advantage – an opportunity for your business to achieve major tax benefits through the financing of your equipment - lease payments are tax efficient
ASSET LEASING and BUSINESS EQUIPMENT FINANCING EXPLAINED
Equipment finance is typically provided by way of a Leasing agreement or Hire Purchase facility. This enables you and your business to invest in vital solutions with the cost of the investment made more affordable through monthly or quarterly payments appropriate to the asset type and needs of your business.
What is a Finance Lease?
Essentially, Finance Leasing (or Lease Finance) enables the business (the lessee) to acquire the assets needed to maintain or grow a business, without needing to purchase the asset outright.
Benefits of FINANCE Leasing include:
Finance Leases offer flexibility in terms of the length of agreement, rental repayment profile and end of lease options.
Unlike making an outright purchase, you will retain cash within your business and not require possible overdraft facilities.
Effective financial planning. The lease repayment profile gives you confidence in being able to budget for the lifetime of the asset.
Tax advantages as payments can be offset against tax liabilities.
Investing in the latest equipment assets will help ensure your business remains competitive by keeping costs low.
Fast turnaround times.
At the end of your lease, you can trade-in your old equipment and upgrade to something new meaning you always have the most up-to-date equipment in your business. And, as you don’t own the old equipment, you won’t be responsible for selling it on.
Things to be mindful of:
The agreement is secured against the asset.
Non-payment of a contract could negatively affect the credit rating of the business and the guarantor.
What is a Hire Purchase?
Hire Purchase (or Lease Purchase) is a form of finance that can be used to purchase new or used equipment. Your business essentially hires the asset over the contract period and once the facility has been paid off, your business becomes the legal owner of the asset with title to the equipment.
Benefits of Hire Purchase include:
Rather than one large sum, a business can spread the cost of investment in new equipment over a 3 to 5 year period.
Makes larger more expensive assets more affordable to the business and preserves cash flow.
Flexibility, you can choose a fixed term and deposit that suits your business while accessing high-spec assets.
As the hire purchaser, your business will own the asset and title to the equipment after payment of the final installment.
There are usually no taxes or charges on Hire Purchase agreements, and it is possible to claim capital allowances against tax.
Hire Purchase agreements can be paid off early, depending on the customer and the contract.
Lower interest than other funding options.
Things to be mindful of:
VAT is paid upfront
Asset Depreciation
Non-payment could negatively affect the credit rating of the business and the guarantor and could result in the asset being repossessed.
FREQUENTLY ASKED QUESTIONS:
With regards to whether it is best to purchase or lease, your business may be able to afford to purchase equipment outright, however, before you make this decision you may wish to consider the following FAQ's:
WHY LEASE?
Leasing is probably the most popular method of financing new equipment today. Virtually all of our products can be leased through Kennet Equipment Leasing.
DO MY PAYMENTS INCREASE IF INFLATION OR INTEREST RATES RISE?
No. Your monthly payment is fixed at the start of the lease and so is unaffected by interest rate rises. This enables you to budget your cash flow more accurately. As inflation rises, because your payments are fixed, the cost of the equipment effectively reduces in real terms.
HOW DO I MAKE MY PAYMENTS?
All payments are mainly made by Direct Debit on the same agreed date each month.
WHO LEASES?
Nearly every market sector large or small benefits from leasing, from new start businesses to large, long-established companies.
IS LEASING TAX EFFICIENT?
Yes. Payments can be offset against your tax liabilities. Your accountant or financial advisor will be able to give you more information on this.
CAN I INVEST IN THE LATEST EPOS TECHNOLOGY
Yes! With most lease agreements* you normally pay just one monthly payment in advance. This enables your business to invest in the latest technology and most reliable, equipment available with only a small initial outlay. Your business can therefore start to benefit from the cost savings or additional profits this investment generates before your next lease payment is due.
* Subject to terms and number of years trading
WHERE CAN I GET FURTHER DETAILS, ADVICE, OR ASSISTANCE?
For immediate assistance, please contact our experienced sales team on 015395 66820 or sales@harmonyepos.co.uk. We are happy to help, discuss and liaise with the friendly, professional team at Kennet Equipment Leasing to ensure that we provide you with a personalised quote and finance solution that is tailored to your individual and specific needs.
Harmony EPoS is an Introducer Appointed Representative of Kennet Equipment Leasing Limited, FRN 985893 . Kennet Equipment Leasing Limited is authorised and regulated by the Financial Conduct Authority, FRN:676024. Kennet Equipment Leasing Limited is an authorised Broker and Lender.
Finance is subject to status and affordability checks. Terms and Conditions apply.