LeasingWhen purchasing commercial fitness equipment from us, you can either pay outright for the equipment or, should you need to finance your purchase over time, you can arrange your own leasing agreement through a finance company of your choice. Provided you are a Limited company we can put you in touch with a leasing company if you require.
If you wish to pursue the leasing route, you may find the following summary useful.
What is leasing?
Leasing is a process by which a firm can obtain the use of certain fixed assets for which it must pay a series of contractual, periodic, tax-deductable payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets.
There are several types of lease agreement available, and their suitability will depend on a number of factors, including the type of equipment or asset required, the risk of ownership and liability, and what happens to the equipment at the end of the agreed lease period. You will need to discuss options available to you with your chosen leasing company, to find the most suitable agreement.
The most common types of lease agreement are:
In situations where ownership of equipment/asset is not seen as desirable, finance leasing offers a cost-effective solution to obtain use of them without the burden of ownership. This type of lease agreement is usually used where equipment/assets have little or low resale value at the end of the primary term of the finance agreement.
Hire purchase / Lease purchase
A simple repayment facility that allows outright ownership at the end of the agreement. The repayments can be fixed or flexible and can include a residual balancing payment (or balloon), that can be used to reduce monthly rentals.