What is an operating lease?
In this type of funding, you are able to get the full usage benefits of the latest assets while avoiding the risks of ownership. We retain rights of ownership and you lease the asset from us, meaning operating lease is perfect for high-value assets which are only needed for a short amount of time, or which will become obsolete quickly.
This is a great way to gain access to the cutting edge, and to maximise the competitiveness of your business. An operating lease arrangement usually runs for under 75% of the asset’s life, and your access is secured with regular monthly repayments. Because the risks and responsibilities of ownership stay with us, you only have to think about one payment. We take care of insurance and maintenance.
Why choose an operating lease?
If you work in a sector where innovation keeps things moving quickly, an operating lease arrangement is a great way to keep you ahead of the curve. The arrangement will be tailored in such a way that you have access to the asset you need, when you need it. When things change, you can move on to the next required asset.
There are tax and VAT benefits to taking out an operating lease too – you can normally offset the monthly payment against taxable profits, and if the asset is solely for business use, VAT is usually fully recoverable.
No limitations on how you use the money
Fixed interest rate and no hidden fees
Same day decisions
Less than ideal financial histories considered
Weekly or monthly repayments
Applications accepted from any industry