10 Things Companies Should Know About Leasing Waste Equipment and Recycling Machinery

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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.

  1. Over 50% of companies who buy a waste baler/compactor will rent or lease it
  2. When financed, most balers and compactors agreements are over five years
  3. Suppliers often focus on a weekly cost of ownership
  4. The supplier will normally offer a maintenance agreement with the equipment
  5. 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
  6. Some suppliers will install equipment for no charge and then remove and sell the waste for a profit
  7. 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
  8. 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
  9. Most end user customers who lease or buy a compactor or baler, will ultimately save money via reducing their cost of waste disposal
  10. 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

Could Equipment Leasing Cater For Your Business Needs?

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Appliance and equipment leasing is providing sustenance for thousands of businesses in the hospitality and catering industry. From small start-up coffee shops to well-established restaurants and food manufacturers, more and more companies are discovering the ease and flexibility of leasing catering equipment.

If you need to urgently replace essential catering equipment such as an oven or fryer, leasing can offer a fast and efficient solution to keep your business going and avoid any loss of revenue. Arranging a lease is usually very straightforward. Once you have found the equipment you wish to lease, you will be able to obtain an instant quote and a decision in principle soon after.

Pay as you use with equipment leasing

Unlike buying, leasing means you can pay as you use. After an initial payment, you can start using the equipment straight away and spread the cost over its useful life, so you can be paying for the asset with the income it generates. Plus, you have the ability to simply upgrade or expand equipment as and when the need arises, so you can always have the latest oven or coffee machine.

The lease itself can be tailored to suit your business. Agreements can be over an agreed period, for example two years, and repayments can be made monthly, quarterly or annually, by direct debit or invoice, whichever is most convenient. Lease payments can even be tailored to match your seasonal cash flow. You can also source equipment from multiple suppliers and can even include maintenance agreements.

Leasing provides businesses with an alternative new credit line separate from banks, which enables banking and overdraft lines to be kept free for any future cash flow issues or unexpected problems. And lease payments can be set against profit, thereby potentially reducing tax bills.

What can my catering business lease?

From a single item to an entire restaurant and kitchen fit out can be included in one lease agreement. Types of equipment that can be leased include:

  • Cooking equipment (e.g. commercial ovens, grills and microwaves)
  • Refrigeration units
  • Coffee machines
  • Food preparation equipment
  • Cold rooms
  • EPOS and cash registers
  • Food display equipment
  • Dishwashers
  • Laundry equipment
  • Vending machines
  • Furniture and counters

For more information on leasing catering equipment, download the WestWon Fact sheet for the Catering Industry.

Construction Sector Leasing Grows In Popularity

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Figures released at the end of 2013 by the Finance & Leasing Association (FLA) show that new business provided to fund investment in construction equipment grew in October by 41% (to £134 million), and by 13% over the last twelve months (to £1.2 billion).

It was also a good month for the commercial vehicle and IT equipment finance sectors, with double digit growth in new business of 13% and 12% respectively.

Overall, the asset finance market reported growth of 4% to £1.9 billion in October for new business deals of up to £20 million. This market has grown each month since April 2013, with new business up in the first ten months of the year by 2% to almost £17.7 billion compared with the same period in 2012.

Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA said:

“The asset finance industry is in a unique position to support businesses as the recovery takes hold.  It funds investment in the key equipment that businesses need if they are to expand to meet stronger domestic demand.

“The FLA’s Q4 2013 Asset Finance Confidence Survey suggests that the industry’s senior executives are cautiously optimistic about economic prospects and market conditions over the next year, with a majority expecting growth of  up to 10% in each of the main channels for new business.”

 

Oct 2013

% change on Oct 2012

3 months to Oct 2013

% change on prev. year

12 months to Oct 2013

% change on prev. year

Total FLA asset finance (£m)

2,137

+11

5,687

+3

21,667

-2

Total leasing and hire purchase excluding high value (£m)

1,926

+4

5,372

+3

21,053

0

Data Extracts:
Plant and machinery finance (£m)Of which: Construction equipment finance (£m)

398

134

+14

+41

1,158

365

+10

+48%

4,416

1,209

+3

+13

Commercial vehicle finance (£m)

474

+13

1,309

+10

4,795

+2

IT equipment finance (£m)

112

+12

338

+11

1,495

+9

Business equipment finance (£m)

150

-3

439

-4

1,860

-7

Car finance (£m)

627

-4

1,618

-2

6,676

+1

Aircraft, ships and rolling stock finance (£m)

3

-96

35

-83

264

-50

 

  1. bers provided £80.2 billion of new finance to UK businesses and households.  £21.5 billion of finance was provided to businesses and the public sector, representing around 28% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
  2. The FLA quarterly asset finance confidence survey aims to gauge senior executives’ opinions about the outlook for the UK economy and the asset finance industry. All FLA asset finance senior executives were invited to take part in the survey. The Q4 2013 results are based on responses from 30 member companies, who accounted for 76% of annual new business.

For more information see the FLA website. You can also download the WestWon Guide To Equipment Leasing here.

Finance Your Office Fit Out Or Refit Without Compromising Your Cash Flow

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Whether you are looking to refurbish or refit your existing work space or are fitting out brand new offices, leasing can help you create your dream work environment. From planning and design to interior finishes and furniture, a lease agreement can provide a flexible and tax efficient way to finance your plans.

Download our Dream Office Fit Out brochure now

Office Refits and Fit Outs Boost Staff Productivity

Refurbishing your office environment can significantly improve efficiency, enhance your corporate image, improve staff morale and increase your ability to attract new clients. However, paying upfront to fit out your new business premises can be a significant drain on the working capital for most businesses. This is where a leasing and asset finance broker can assist

Businesses are increasingly using leasing to finance entire office refurbishment projects including lighting, flooring, furnishings, computer equipment and even moving services. Leasing provides added convenience and flexibility, with everything covered under one agreement. This means you only need to pay one monthly or quarterly payment for multiple suppliers.

Furniture and Fit Out Leasing Protects Cash Flow

You can choose exactly what you need without compromising your cash flow or existing lines of credit. Asset-based finance allows you to spread the cost of the project over a number of years, benefit from the investment straight away and easily upgrade technology or interiors at a later date. Lease payments can even be tailored to match seasonal cash flow and be set against profits to potentially reduce your tax bills.

A wide range of office furniture and equipment, from PCs and printers to workstations and seating, can be leased to help you create the inspiring work space your business requires. Services like removals or interior design consultants can also be incorporated. In fact, almost every element of an office refurbishment project can be considered for leasing.

What Can Be Leased For An Office Fit Out?

Some of the types of equipment and services that can be leased are:

  • IT equipment (e.g. computers, tablets, printers)
  • IT Software
  • Flooring
  • Office furniture
  • Lighting
  • Photocopiers
  • Removals services
  • IT relocation specialists
  • Interior design services
  • Specialist seating
  • Stationery
  • Signage
  • Repairs and maintenance
  • Office partitions
  • Air conditioning
  • CCTV and security systems

For more information about leasing for an office fit out or furniture, download the Dream Office brochure or call our office fit out team on Tel: 01494 611 456

 

Keep Pace with Technology With IT Leasing

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With technology changing at such a speed, businesses of all sizes in almost every sector frequently need to upgrade or expand their IT equipment, so is IT leasing the answer? In fact, over 90% of the top 100 companies now lease computer equipment.

Why? Paying upfront for equipment can be a significant drain on the working capital for most businesses, especially SMEs and start ups. With bank lending figures still falling, many businesses are turning to alternative sources of funding such as asset finance and leasing.

Benefits of computer and IT leasing

Computer and IT leasing offers a number of significant benefits over buying. For example, leasing means your businesses will never be left with obsolete equipment in a way that would not be possible with an outright purchase. IT equipment can become out of date in just two to threeyears. With a lease agreement, equipment can be added or upgraded without having to repurchase, so you will always have the most up-to-date hardware  and software.

Leasing also means you can obtain the latest computer equipment you require without a large capital outlay. Many businesses find leasing advantageous from a budgeting standpoint as switching from outright purchase to a lease agreement changes how the equipment is accounted for. Leasing enables you to pay for the equipment you need over a fixed period of time, which helps you spread the cost. Plus, with an operating lease, rental payments are an allowable business expense that can be set against profit – thereby potentially reducing your tax bill.

What IT equipment can businesses lease?

A wide range of equipment, from PCs and iPads to software licenses and training, can be leased. This can include hardware, software and maintenance agreements. In fact, almost any type of tangible equipment can be considered for leasing. You can even choose the suppliers and the exact combination of equipment you require.

Some of the most popular types of IT equipment leased are:

  • PCs and laptops
  • Tablets (e.g. iPad, Microsoft Surface)
  • Servers
  • IT Software
  • Routers
  • PDAs
  • Printers
  • Projectors
  • Training
  • Installation
  • Networking infrastructure
  • Telephone systems
  • Reprographic systems

For more information on IT leasing, download the useful WestWon Asset Finance For IT Equipment fact sheet or call WestWon on Tel: 01494 611 456.

Calculate The Cost of Leasing v. Buying Equipment For Your Business

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Obtaining an outline leasing quote could not be easier. And doing so will help your business compare the cost of leasing versus buying the capital assets you require within seconds. The interest  payable on a leasing deal will depend on the amount you finance, the term of the agreement and frequency of repayments. It works just like a mortgage – the shorter the term, the less interest paid.

The table below compares the cost, for example, of a £10,000 lease agreement over various terms.

Capital cost of lease agreement (excl VAT)Length of lease periodMonthly repayment (excl VAT)
£10,0002 years£464.00
3 years£322.00
5 years£208.90

 

For an instant leasing quote, why not try the WestWon lease cost calculator now? (Please note that rates quoted are for illustrative purposes only and payments will vary according to your company’s individual circumstances and leasing requirement.)

If you are thinking of leasing your equipment, machinery, office furniture, office fit out or IT hardware, software and services, there are a few points you should remember:

Top Tips for Leasing
  • First and foremost, if something seems ‘too good to be true’ it may well be not what it seems.
  • What are the early settlement terms and notice required to terminate the lease before the end of the agreed lease period? Ensure that you are aware of any early exit penalties there may be in the contract.
  • Always read the small print. If there is a service contract associated with the lease contract, ensure that you know what it covers and what rights you have should you not be satisfied either with the performance of the equipment or with the quality of service you receive. In particular, check what happens if you wish to terminate both the lease and service contract, for example, should the leased equipment continually malfunction.
  • Scrutinise your potential supplier closely. Find out how long they have been trading and ask for reference sites.
  • If you have to pay a supplier a deposit, make sure it is correctly documented and inform the leasing company.
  • Take particular interest in any settlement figures that you wish to include in a new lease when upgrading an existing lease. This is especially important when dealing with photocopiers.
  • Look out for additional charges such as documentation fees and administration fees, so you have a full understanding of total costs.
  • Don’t sign a ‘certificate of satisfaction’ or ‘certificate of acceptance’ before you have received delivery of the equipment as this document releases the money from the leasing company to the supplier.

 

For all your leasing queries, please contact WestWon on Tel: 01494 611 456 or alternatively, you can download more information about how to get the best leasing deals here – Financing Your Business Plans: Free Guide to Leasing

Leasing Demand Surges As Asset finance Increases By More Than A Third In December 2013

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WestWon has seen extremely positive trends in leasing demand over the past few months and this  experience is born out by figures released on 7th February 2014 by the Finance & Leasing Association (FLA) showing that asset finance new business grew by 34% in December 2013 to £2.2 billion, the strongest monthly rate of growth for almost 6 years.

The full year figures for 2013 show that new business for asset finance deals of up to £20 million grew by 4%, making it the fourth consecutive year of growth in the sector. There were positive figures across the market, with growth of 14% in IT equipment finance and 9% in commercial vehicle finance, compared with 2012. Modest growth was also reported in business car finance, plant and machinery finance, and business equipment finance with increases of 1%, 4% and 1% respectively.

Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA said:

“The asset finance market reported its highest level of new business for three years in December, suggesting the long-awaited recovery in business investment may well have begun.

“The recovery in the UK economy so far has been driven by the services sector and supported by almost £15 billion of asset finance provided to businesses in that sector last year.”

In 2013 FLA members provided £84.7 billion of new finance to UK businesses and households. £22.4 billion of finance was provided to businesses and the public sector, representing around 29% of all fixed capital investment (excluding real property and own-account software) in the UK last year.

For more information see www.fla.org.uk

To discuss leasing options and get an instant quote for equipment, machinery, furniture and fit outs,, call WestWon on Tel: 01494 611 456 or email [email protected]

 

Benefits of IT Equipment Leasing & Computer Equipment Leasing

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Why Lease Computers and Other IT Equipment?

Leasing IT technology such as computers, tablets, servers and telecoms allows you to improve performance by acquiring the latest technology without tying up capital or existing lines of credit.

Crucially it also protects you against future obsolescence – a major issue for IT and computing equipment. Technology is changing at such a fast rate that new equipment can become out-of-date very quickly. Arranging lease finance for IT makes it so much simpler to upgrade to new and improved versions at any stage.

If your organisation would like to know more about leasing computers, laptops, servers, networks, infrastructure, printers, fax machines, reprographic systems, telephony or any other technology systems, contact the WestWon IT experts on Tel: 01494 611 456 or email [email protected] for an instant quote and best leasing rates.

Key Benefits of IT Leasing

WestWon provides finance for hardware leasing, software leasing, infrastructure leasing, telephony leasing and services leasing, allowing your business to:

  • Avoid Obsolescence – With the rapid pace of technology change it clearly makes sense to lease rather than buy depreciating IT assets – so you can upgrade easily in the future.
  • Improve Cash Flow and Instant Return on Investment – You have immediate access to the latest resources without having to tie up large sums of capital, while spreading the cost of your investment over the useful life of your equipment.
  • Protect Bank Lines – Lease rental agreements do not impact your other borrowing options or lines of credit.
  • Be fully Flexible – Effective IT is about so much more than just hardware. You can easily include items such as software, networking and support under one monthly payment for simpler budgeting.
  • Compare Lease V Buy Costs Instantly – WestWon offers a state-of-the-art online quotations system, providing instant quotations and highly competitive rates. There is no easier way to assess your options.

 

For more information about IT Equipment Leasing, Hardware Leasing, Software Leasing, Tablet Leasing or iPad and Tablet leasing, contact WestWon on Tel: 01494 611 456 or download the WestWon Asset Finance  for IT Equipment and Projects Leasing Fact Sheet from our Leasing Fact Sheet Page.

Why Not Ask Your Supplier About Lease Finance For New Equipment, Machinery, IT, Furniture, Fit Outs And Related Soft Costs And Services?

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Leasing now helps to fund 27% of all fixed capital investments in the UK. So it’s hardly surprising that more and more resellers are offering their customers a lease v purchase option.

Even if your chosen supplier doesn’t already offer leasing for capital equipment, you can ask them to contact a leasing company such as WestWon. Or if you prefer contact us directly to discuss a highly competitive leasing deal.

Why Do Many Resellers Already Offer Customers A Leasing  Option?

Simply because it helps their customers and there is no reason not too from a supplier standpoint as they still get paid for their goods andor services upfront – but by the leasing company rather than the customer.

Leasing enables customers to:

  • Spread the cost over time in line with the expected ROI on their investment
  • More easily select the equipment that better meets their needs.
  • Upgrade more often in the future, avoiding technology obsolescence.

Download the FREE ESSENTIAL GUIDE TO LEASING for more information.

WestWon provides a range of support options for resellers who wish to offer their customers a finance option. And if you haven’t already chosen your supplier, we can also recommend suppliers that can meet both your product and finance needs.

Offering a great leasing deal has benefits for both suppliers and customers. For more information about the type of leasing deals you can consider (or offer, if you are a supplier) simply email [email protected] or Tel: 01494 611 456. We’d love to help.

 

 

Find An Exciting New Career In Equipment Leasing

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Making the right career choice and selecting the right company to work for are possibly two of the biggest influences on future health, wealth and happiness – particularly in the earlier stages of your working life. After all, choosing wisely can put you firmly on the path to fame and/or fortune!

As leading UK leasing company WestWon launches its latest recruitment drive for six Business Development Managers, we thought we’d take a look at why The Old Rectories in Beaconsfield and Leicester are great places for dynamic individuals to further their career ambitions.

Motivated Staff

The management team is focused on motivating individual performance and creating a strong team. So most of the company’s performance incentives include rewards for both sales and administrative staff too.  In the Spring for example, WestWon is going to the West End and later in the year, even further afield – destination, yet to be revealed!

So what WestWon employees think is the company’s main USPs (Unique Selling Point) of being on the WestWon team:

 

“Working at WestWon Asset Finance is great because it’s never a groundhog day.” Jo Bradford, Sales administrator

 

“WestWon is always ready to innovate to achieve its goal to be the UK’s leading leasing company.” Janet Willis, Marketing Manager

 

“I love working for WestWon IT Leasing because the possibilities are endless. I know that any goal is achievable and I have the full support of WestWon to help me to achieve my goals. I also get to dress up like the Incredible Hulk and Noel Edmonds and not look out of place.” Carl Redding, Business Development Manager

 

“Working at WestWon Leasing is great because every day is a new adventure.” George Shillingford, Head of Internet Sales

 

‘Everyone who works here has the same goal in mind – to be part of making Westwon Ltd a bigger and more successful company. The training is fantastic and staff are kept motivated and happy’ Janet Payne, Office Manager

 

For more information about the latest sales opportunities at WestWon Equipment Leasing see here: Business Development Managers. Alternatively you can email [email protected]  or Tel: 01494 611 456

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