A Crash Course in Capital Equipment Leasing – Part One

If you are in the market for new equipment for your workshop in 2019 but prefer to reserve your cash and/or current credit lines?

Perhaps that plain truth is that you can’t afford to tie up your working capital to get the actual equipment you prefer and might be forced to not invest at all or to invest in a lower quality solution. In these circumstances leasing is an option to consider because it offers very many benefits to an automotive repair garage because you can get the right solution at an affordable price.

Instead of buying the equipment and its associated technology outright at the outset, leasing allows you to make smaller monthly payments, typically, over a multiple-year period. At the end of the lease, you usually have the option of simply returning the equipment, or buying it for a price that factors in appreciation and how much you paid over the life of the lease (1 further months rental).

Among some the benefits of equipment leasing are that: you don’t require a significant down payment, you don’t end up with obsolete equipment at the end of the lease (because in theory it can all be removed and new equipment be re-installed in its place), but mainly it is about the tax benefits.

Equipment leases are eligible for tax credits and you should be able to deduct your payments as a legitimate business expense.

Where GETECH & our financing partner Complete Leasing Solutions Ltd can assist is by saving you the time, hassle, confusion whilst saving you money by sourcing a tailored solution for your business requirement.

Of course you could search and then contact multiple lessor and brokers directly yourself and then assess, and compare, their offerings independently in the same way your customers can fit wiper blades, brake pads etc – but our reputation stands on us being the experts at this – exactly the same reason you have a successful business. This service is free and no credit checks are actioned until you have confirmed you wish to proceed with exploring our  recommendations.

In reality for the equipment you will need to be “pointed” to the lenders that will even consider Automotive Equipment, but our experience, and expertise will provide the best match for your particular requirements, equipment, budget and trading situation.

If you already consider that equipment leasing is for you, contact us with information on your requirement and we can provide you with a no obligation quote which clearly explains the specific benefits to your unique business model.

If you are still unsure if equipment leasing is a good option for you, or if you want more information you can continue to learn more about how to get started, the leasing process, the different types of leases and what to consider when looking a lending company, you can read Part 2 of this article when it is published by clicking HERE.

getech-garage-equipment-logoGETECH supply MOT bays & equipment for all vehicle classes. As a manufacturer within the MOT scheme we are perfectly positioned to remain abridged of current and future known legislation. With a design ethos for total modularity, our equipment is some of the most flexible currently available in the UK.

For more information on GETECH call during office hours, visit http://getech.org.uk or mail info@getech.org.uk.

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