Efficient waste management and recycling practices are under the spotlight as never before – both for economic and ‘green’ reasons. Many businesses need new waste equipment – such as balers, recycling machinery, compactors and shredders – but are reluctant to tie up existing capital or lines of credit. That’s why leasing is often a better option than buying. After all, asset finance now helps to fund 27% of all fixed-capital investment in the UK.
Leasing Facts and Options For Waste Equipment and Recycling Machinery
The market for waste compaction equipment has grown significantly over the last ten years and WestWon is extremely active in waste compactor and baler leasing, paper shredder and compactor finance. Here are 10 interesting facts about leasing waste equipment.
- Over 50% of companies who buy a waste baler/compactor will rent or lease it
- When financed, most balers and compactors agreements are over five years
- Suppliers often focus on a weekly cost of ownership
- The supplier will normally offer a maintenance agreement with the equipment
- There are few cases of customers whom have been mis-sold equipment. We have seen cases of suppliers “up selling,” i.e. selling a machine that is too powerful for the use it is intended
- Some suppliers will install equipment for no charge and then remove and sell the waste for a profit
- The market is fragmented, with highly professional and successful suppliers at one end of the spectrum and small skip hire/waste disposal companies at the other
- There are big differences in the quality of waste equipment. I.e. the thickness of the metal, reliability of the parts etc. We advise all customers to take good care when choosing equipment, and a supplier
- Most end user customers who lease or buy a compactor or baler, will ultimately save money via reducing their cost of waste disposal
- Waste equipment can range from £1,000 in value to many millions
For more essential information about asset-based finance for waste equipment, download the WestWon Guide to Leasing or call us on Tel: 01494 611 456