Sometimes can be known as Lease Purchase. This is used if you wish to own the equipment at the end of the contract. It offers the same taxation benefits as buying outright, but enables you to spread the cost over the contracted period enabling your Company to retain the capital and use for more profitable purposes. At the end of a Hire Purchase agreement you retain ownership of the equipment. During the agreement apart from claiming Capital Allowances, all the interest payable can be offset against taxable income and the machine becomes a fixed asset to your Company.
Sometimes known as an Options Lease. If you wish to use the equipment without owning it, an Operating Lease could be what you need. The rentals are fixed from day one and can be significantly lower than Hire Purchase, however at the end of the contract the machine will either be returned or retained at a lower rental rate. All rentals paid during the agreement are totally allowable against taxable income.
Short Term Rental
Should you require a machine on a short term basis from one week onwards to cover for peak periods, seasonal requirements or a breakdown of your existing equipment, these can be supplied from our extensive short term hire fleet which covers machines of a variety of specifications. The hire rate includes all maintenance and servicing. This is a convenient way to cover for any emergency requirements, without making a long term commitment.
Hire is probably the most popular way to acquire equipment, after all why use your own money when it can be used for more profitable purposes.
We pride ourselves on providing our customer with equipment and contacts which best suit their individual requirements.
The first part of the hire process is therefore to ensure that the correct equipment is supplied in order to ensure the best value for money and efficiency.
The next step is to choose the type of contract which best suits your economic requirements. Careful selection will ensure long term satisfaction and could save your Company thousands of pounds well into the future.
We therefore offer a full range of finance solutions currently available in the U.K. , to which we are able to add and include preventative and full maintenance packages, once again to suit your individual requirements.
A short summary is as follows:-
- Contract Hire including all maintenance, breakdowns, repairs etc.
- Operating Lease with or without maintenance.
- Hire Purchase.
- Short Term Rental.
- We have machines that can be offered from 1 week to 12 months, including full maintenance, from a fleet of 400 machines across the U.K.
The most convenient way to acquire the usage of a fork truck without the headaches and hidden costs associated with the running and management of your own machine.
The rental rate includes both the finance element and the servicing and maintenance costs in one weekly rental rate, eliminating the need to budget for the acquisition of the truck or unexpected repairs. Without the need to seek budget approval or acquire competitive quotes you will be able to have your machine repaired by one simple phone call to our service hotline. You will be able to acquire equipment that best suits your particular application, without the need to make-do with unsuitable equipment due to budgetary restraints.
The longer the commitment, the lower the rental rate; Long term contracts are for 3 – 7 years with 5 years being the most popular. During these periods we are able to offer an option to up-grade, should the application change and equipment to a different specification is required.
The agreement runs for the specified period and at the end of the contract the equipment can be collected and a new truck on a new contract can be supplied, or the contract extended at a lower rental rate.
During the agreement the finance element of the rental paid can be substantially lower due the fact that the rentals reflect less than 100% of the equipment cost. All rentals payable are allowable against taxable income.