Clean It Up

UK Floor Cleaning Forum => Carpet Cleaning Forum => Topic started by: shine services on March 19, 2010, 09:25:43 pm

Title: leasing a machine?
Post by: shine services on March 19, 2010, 09:25:43 pm
Hi,
i have been thinking of leasing a porty but all companys I have spoken to say i must own my own home, which i do not!
Is there any way around this?
(Getting a morgage isnt an option lol)
Title: Re: leasing a machine?
Post by: Steve Barnett (Carpet Care Plus) on March 19, 2010, 09:31:10 pm
They are talking cobblers !

Speak to Glin at Oxford Funding

http://www.thefundingco.co.uk/


Steve
Title: Re: leasing a machine?
Post by: robert meldrum on March 19, 2010, 09:38:32 pm
Agree with Steve I leased my first Ninja about 10 years ago through this company.
Title: Re: leasing a machine?
Post by: happy mondays on March 19, 2010, 09:48:54 pm
They are talking cobblers !

Speak to Glin at Oxford Funding

http://www.thefundingco.co.uk/


Steve

In my own opinion Steves correct, their is always a company somewhere that will fund a new or struggling business, this may very well come at a premium % interest rate, but not having any assets shouldnt be a problem in leasing equipment or vehicles. Ive looked at the link/website Steve has posted, take his advice and have a chat to them on Monday, you have nothing to lose.  If you do/dont get sorted please post an update.    
Title: Re: leasing a machine?
Post by: ryan mca on March 19, 2010, 10:13:15 pm
You could also try 0% on credit card then switch balance if  not cleared in time  to 0% balance transfer only charge would be for transfer of balance
Title: Re: leasing a machine?
Post by: shine services on March 20, 2010, 03:43:45 pm
Thanks for the info guys. I will get on to it and post a update :)
Title: Re: leasing a machine?
Post by: robert meldrum on March 20, 2010, 05:06:04 pm
Derek

The leasing deal has nothing to do with a struggling business it's standard practice to lease equipment when tax efficient to do so. Unfortunately the current government keeps moving the goalposts making it more difficult for all business instead of assisting fledgling businesses.

Title: Re: leasing a machine?
Post by: derek west on March 20, 2010, 05:27:38 pm
bob

seriously, its not me. ask roger peach.
Title: Re: leasing a machine?
Post by: Ian Gourlay on March 20, 2010, 05:28:14 pm
I was thinking of getting a new machine last year.

Martin at Ashbys said you could only get one on lease is if you own your own home.

Not a problem.

But as far as I am concern the interest rates they actually charge the leasing company should only claim back machine

I know thats not case but thats the way it should be

And if you are proven to be frudlent send you to prison for obtaining money by deception.

Title: Re: leasing a machine?
Post by: happy mondays on March 20, 2010, 06:09:24 pm
Derek

The leasing deal has nothing to do with a struggling business it's standard practice to lease equipment when tax efficient to do so. Unfortunately the current government keeps moving the goalposts making it more difficult for all business instead of assisting fledgling businesses.



That was me  ;D

Hi Robert, I wasnt meaning leasing isnt a good option, I was just pointing out that you dont have to have £mills in the bank or own property to do it, but as has been pointed out, some companys will not fund the lease for a new buisness, or one that has fallen on bad times. However if anyone struggles to find the funds for a new machine, their is always usually someone who will help, but this may incur higher % interest charges.   
Title: Re: leasing a machine?
Post by: clinton on March 20, 2010, 06:19:47 pm
Let the real slim shady oops mean derek stand up ;D
Title: Re: leasing a machine?
Post by: happy mondays on March 20, 2010, 06:24:13 pm
Let the real slim shady oops mean derek stand up ;D

Shady?   ::)

 ;D ;D
Title: Re: leasing a machine?
Post by: terrymaloy on March 20, 2010, 06:40:01 pm
Extracta products do a leasing scheme on portys to established businesses.
I have an Extracta machine myself and have no complaints.

www.extracta.co.uk 
Title: Re: leasing a machine?
Post by: happy mondays on March 20, 2010, 06:52:39 pm
Extracta products do a leasing scheme on portys to established businesses.
I have an Extracta machine myself and have no complaints.

www.extracta.co.uk 

Hi Terry, it isnt extracta funding it and waiting for the £'s, most companys who sell machines offer this option, but they all get paid in full from the finance company.  The leasing/finance agreement is with these companys.
Title: Re: leasing a machine?
Post by: robert meldrum on March 20, 2010, 07:21:33 pm
As Derek says, your purchase is being funded by a lender who will obviously need to add interest which is what happens with your house, your cars / vans, etc.

Very few will pay out £3k or so when there's no discount incentive and the £3k could be earning £'s for the business through marketing, adding expertise or whatever.

You might get a better financial deal these days from another source than the leasing companies, worth looking into, eg, your bank / building society.
Title: Re: leasing a machine?
Post by: happy mondays on March 20, 2010, 07:36:15 pm
As Derek says, your purchase is being funded by a lender who will obviously need to add interest which is what happens with your house, your cars / vans, etc.

Very few will pay out £3k or so when there's no discount incentive and the £3k could be earning £'s for the business through marketing, adding expertise or whatever.

You might get a better financial deal these days from another source than the leasing companies, worth looking into, eg, your bank / building society.

Hi John....  sorry Rob,  good post.

Regards,

Paul
Title: Re: leasing a machine?
Post by: Doctor Carpet (Ret'd) on March 22, 2010, 05:31:25 pm
Class.

Who wasn't paying attention to my talk on this very subject at Carpex?

That'll "lern yer" for not attending the UK's biggest carpet cleaning exhibition. :)

Mr West I'm awarding you full marks for your homework, and a gold star. Go to the top of the form. ;D
Title: Re: leasing a machine?
Post by: ianharper on March 23, 2010, 07:37:50 am
Hi

don't do it, get a secondhand ninja.

say you go into a shop to buy something and you look at the price tag and you think that's OK price. you got to pay for it and they add another big percentage on that price you would be Ped off. that's leasing.

why pay more for something? don't forget it will devalue as soon as you have it and every year after.

keep your overheads low it will give you more money to spend on advertising.

Hope this helps

respect

Ian
Title: Re: leasing a machine?
Post by: robert meldrum on March 23, 2010, 07:48:45 am
Ian's post is a very attractive alternative which gives even better value for money............you could recoup the entire cost in a couple of months and use your cash flow to fund marketing and upgrades as profits allow.

As usual............there's no "always" and no "never"
Title: Re: leasing a machine?
Post by: Simon@arenaclean on March 23, 2010, 07:58:38 am
You could also try 0% on credit card then switch balance if  not cleared in time  to 0% balance transfer only charge would be for transfer of balance


That's your cheapest option.
Title: Re: leasing a machine?
Post by: clinton on March 23, 2010, 08:00:26 am
When you also get a quiet time with work and it will happen the payments will still have to be made.

Maybe the above post is  right and keep all your outgoings low so you have some for marketing if your a newbie..
Title: Re: leasing a machine?
Post by: Doctor Carpet (Ret'd) on March 23, 2010, 09:23:01 am
You could also try 0% on credit card then switch balance if  not cleared in time  to 0% balance transfer only charge would be for transfer of balance


That's your cheapest option.
True but you could become stuffed if you can't change cards at tthe end of the "free" period. this is especially valid if you have undertaken many credit enquiry searches. Admittedly even if you did get locked into a high interest rate you would at least have flexibility over how much you paid back each month.

Businesses don't like uncertainty as a general principle. Sometimes it's better to pay more and know how things will pan out with certainty.

Whilst Robert is always wise to say their is no right or wrong answer to your question, do remember that we are always advocating to our clients that cheapest isn't always the best long term option.

Roger
Title: Re: leasing a machine?
Post by: Steve Barnett (Carpet Care Plus) on March 23, 2010, 03:46:44 pm
Hi

don't do it, get a secondhand ninja.

say you go into a shop to buy something and you look at the price tag and you think that's OK price. you got to pay for it and they add another big percentage on that price you would be Ped off. that's leasing.

why pay more for something? don't forget it will devalue as soon as you have it and every year after.

keep your overheads low it will give you more money to spend on advertising.

Hope this helps

respect

Ian


I bought my Ninja brand new on a lease deal - it costs me £ 89.19 per month.

The day I can't afford that, I may as well pack it in.


Steve
Title: Re: leasing a machine?
Post by: derek west on March 23, 2010, 03:54:31 pm
steve
you fired up that new bad boy you bought at carpex yet? or you still waiting for delivery?
Title: Re: leasing a machine?
Post by: Steve Barnett (Carpet Care Plus) on March 23, 2010, 03:58:25 pm
Picking it up in a couple of weeks Derek, looking forward to it - got that on a lease deal as well, why would I want to spend £3000 of my hard earned in one hit.



Steve
Title: Re: leasing a machine?
Post by: derek west on March 23, 2010, 04:09:03 pm
does look the biz. let us know  what you think in comparison to the tm when ya get it.
Title: Re: steves new machine?
Post by: brianbarber on March 23, 2010, 08:13:33 pm
Hello steve,
which new machine have you bought?
Just curious and nosey!!

Mr B
Title: Re: leasing a machine?
Post by: Steve Barnett (Carpet Care Plus) on March 23, 2010, 08:16:45 pm
Airflex Turbo from cleansmart - 600psi and triple vac