Leading Heating Ventilation & Air Conditioning Company Partners With WestWon Leasing

/0 Comments/in , , /by

London-based Heating Ventilation & Air Conditioning company Macair has teamed up with WestWon to provide attractive lease finance options for customers that need to upgrade their current systems before 2015 due to industry regulations. As a result, Macair can now offer instant lease quotes for all new air conditioning installations and upgrades, helping customers to acquire the new systems they need before the coming deadline.

Rob McConachie from Macair commented, “Macair sees our relationship with WestWon as a very positive move for our business and for our customers. We are excited to be able to offer highly attractive air conditioning leasing options backed by the expertise and service of a leading leasing company with in-depth experience in our sector.”

According to McConachie, the timing of the tie-up between Macair and WestWon is significant. The Ozone Regulation came into force in 2000 and it has already banned the use of ozone depleting HCFC refrigerants such as R22 in new systems. R22 remains a very common refrigerant in existing systems, but its continued use will be banned completely by 2015.

McConachie continues, “As a result of The Ozone Regulation, which affects all users of R22 and other HCFC systems, we believe that many companies will find themselves having to bear the cost of new air conditioning systems at a time when their budgets are already stretched. Suitable leasing deals should now be quick and easy for us to arrange and will help these businesses to spread the cost of a new system over its useful life, without impacting their cash flow and other lines of credit.”

According to WestWon’s Sales Director Andy McCready, “We are delighted to be working in partnership with Macair and believe that together we can offer heating ventilation and air conditioning customers highly attractive and, in many cases, tax-efficient leasing options to help them acquire the systems they need in the run up to 2015 and beyond.”

WestWon Leasing Partner Benefits

Working in partnership with WestWon enables resellers such as Macair to offer a range of flexible, tailored finance solutions so that customers can invest in the systems they need right away, and crucially, upgrade more easily in future to comply with new regulations.

WestWon provides a range of support options for reseller partners, who wish to offer their customers a finance option, including

  • Instant quotes and highly competitive rates via the WestWon Partner Portal
  • Dedicated WestWon Account Manager to help you grow your business
  •  Branded finance portals for authorised WestWon partners
  •  Finance partner logo and plaque
  • Sales training and marketing support

 

For more information, contact WestWon on Tel: 01494 611 456 or email [email protected] or see http://oldwestwon.wpengine.com/home-page/resellers/

UK Continues To Lead European Leasing Growth

/0 Comments/in , , , /by

Hard on the heels of the FLA’s recent report stating that new asset finance business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year,  Richard Ryan, a Partner at Invigors EMEA, part of The Alta Group has recently painted a less rosy picture of the European leasing scene.

According to Ryan, after  shrinking slightly in 2012 in response to the eurozone crisis, GDP in the European Union (EU) was flat last year and is forecast to grow by a rather anaemic 1.5% in 2014 and 2.0% next year, according to the latest data from the European Commission.

And currently the outlook is further clouded by worries over potential deflation in the eurozone together with poor corporate earnings growth which, when combined with a strong euro, does not bode well for either investment or export-driven growth.

The European leasing industry has largely reflected this rather lacklustre performance to date. New businesses volumes for equipment and vehicle finance were flat in 2012 and appeared to have showed little growth last year. Real estate leasing fell by nearly a third in 2012, though this accounts for a relatively small share of the total.

While we wait for full year European figures to be published for 2013, it seems that some major countries have been particularly poor performers. New business shrank by 3.4% in France for the year while, in the first half of 2013, volumes fell by 13% in Italy and 17% in Spain. Even Germany, the economic powerhouse of Europe, has seen no growth in leasing for the past two years. It appears that overall equipment and vehicle leasing volumes in Europe have remained at least 15% below pre-crisis levels.

However Ryan continues to state that while the overall outlook may not appear particularly inspiring, there are however grounds for optimism. Not all countries have seen their local leasing sector perform poorly. Of the more mature markets, Denmark, Sweden and the UK have all seen significant growth, while some of the developing markets in Eastern Europe, which were badly hit by recession, are also recovering strongly.

Of the major countries, the UK has been a relatively strong performer. Data from the UK’s Finance & Leasing Association (FLA) showed that, after a slow recovery from recession in 2010 and 2011, growth in new business volumes accelerated to 4.1% in 2012 and remained at 3.4% last year. Based on GDP forecasts for 2014 ranging from 2.5% (Eurostat) to 3.4% (Bank of England) we would expect equivalent growth in the leasing market of 9-13%, numbers not seen since the heady days of 2006-7 though, in truth, new business growth in the UK has tended to undershoot this trend line recently.

More recent indicators suggest that the recovery is becoming more broadly based at a European level. The most recent Leaseurope/Invigors business confidence survey, undertaken in December last year, shows a sharp improvement in industry sentiment in terms of expectations for the first half of 2014.

Bullish expectations for growth

Expectations of new business growth are particularly bullish. Nearly three-quarters of those surveyed anticipated growth in new business this year, up from 54% in the previous survey last June. This is the biggest jump in sentiment since 2010. The proportion of respondents forecasting no change fell to 16% in December while the number predicting a fall in new business has halved to just 10%.

Those taking part in the survey also expect that this growth will be reflected in the bottom line. Over 60% anticipated that net profit in their organizations would increase over the next six months, an increase from just over 50% previously; while only 15% believed that net profit will be squeezed. Overall, nearly two-thirds of respondents felt more optimistic about the prospects for their business, nearly double the level recorded in the previous survey!

Looking at the latest figures available from Leaseurope, it appears that this optimism is not necessarily misplaced. The Leaseurope Index is a separate survey that tracks key performance indicators covering a sample of 17 European lessors on a quarterly basis. Unlike the confidence survey it is retrospective and tracks actual rather than expected performance. Total new business volumes reported by the sample of leasing companies increased by 13.7% in the Q4/2013 survey, the first significant increase in two years.

You can read Richard Ryan’s full article.  For more information about competitive UK leasing deals, conatct WestWon on Tel:01494 611 456.

 

New Asset Finance Business Grows By 9% To Almost £1.7 Billion In January 2014

/0 Comments/in , , , , , , , , , , , , /by

UK Finance & Leasing Association members report that new asset finance business grew by 9% to almost £1.7 billion in January 2014, compared with the same month last year.

Geraldine Kilkelly, head of research and chief economist at the FLA said that key asset sectors reported double digit growth – with commercial vehicle finance, business equipment finance and plant and machinery finance up by 25%, 21% and 13% respectively.

IT equipment finance reported modest new business growth of 3% compared with the same month in 2013.

Kilkelly added: “The positive start to 2014 follows exceptionally strong growth of more than a third in December 2013 and reflects growing confidence in the sector.

“The FLA’s Asset Finance Confidence Survey for Q1 2014 showed respondents expect asset finance new business to grow by up to 10% over the next 12 months.”

 

Jan 2014

% change on

Jan 13

3 mths to

Jan 14

% change on

prev yr

12 mths to

Jan 14

% change on

prev yr

Total FLA asset finance (£m)

1,694

+9

5,705

+14

22,535

+4

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

1,672

+7

5,603

+13

21,843

+4

Data Extracts:
Plant and machinery finance (£m)

343

 +13

 1,069

+9

4,513

+5

Commercial vehicle finance (£m)

420

+25

1,504

+38

5,285

+11

IT equipment finance (£m)

68

+3

412

+13

1,544

+14

Business equipment finance (£m)

159

+21

493

+12

1,961

+3

Car finance (£m)

505

-8

1,599

+1

6,707

-1

Aircraft, ships and rolling stock finance (£m)

6

-62

115

+42

297

-40

 

For more information visit the fla.org.uk

For more information about leasing equipment, machinery, IT resources or office furniture and fit out leasing please call WestWon on Tel: 01494 611 456.

 

Leasing VOIP Telephony Equipment As Part Of Your Office Fit Out

/1 Comment/in , , , /by

When WestWon moved to its new offices at the Old Rectory in Beaconsfield, Bucks, we undertook a major office fit out – everything from desks, chairs, partitions to boardroom furniture and flooring to laptops and AV equipment. Being a character building, the Old Rectory is full of charm … and also quirks, as we discovered when it came to fitting it out.

Naturally, as a leasing company, leasing the fit out was the obvious solution for us. And as part of our office refit we took the decision to install a new Voice Over IP (VOIP) telephone system – telephony equipment that uses the internet as opposed to a “normal” land line.

Leasing technology as well as furniture

Initially we were slightly dubious about the technology. Will it work? Will the service be secure and reliable? Will the sound quality be OK? Such doubts were unfounded.

Thus far, leasing our telephony has proved a sound business decision. The running costs are not just significantly lower, but the system also offers a number of key benefits.  One example is how well it integrates with our CRM system – simply ‘right click’ on any telephone number in the system and press dial and, within seconds, we’re having a conversation. It is also very easy to set up the system for use from home as long as you have a laptop and an Internet connection.

Integrated telephony leasing

Of course, WestWon has also helped many other companies, large and small, to secure lease finance for their office fit out including telephony systems. In our experience, many sales organisations also choose to install a PBX system on the wall to monitor activity – quite an expensive item and ideal for leasing.  And in general, at around £100 per CISCO handset together with the set up costs, telephony leasing certainly has its attractions for both established and new start up businesses.

For more information about leasing VOIP telephony or any other IT equipment, or indeed any aspect of a planned office move, refurbishment or fit out, please contact WestWon on Tel:01494 611 456.

Construction Sector Leasing Grows In Popularity

/0 Comments/in , , , /by

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

/0 Comments/in , , , , /by

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

/0 Comments/in , , , , /by

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

/1 Comment/in , , , , , , , , /by

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

/0 Comments/in , , , , , , , , , , /by

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

/0 Comments/in , , , , /by

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.

GET IN TOUCH

Contact Us

[email protected]

01494 611 456

PORTAL ACCESS

CORPORATE INFORMATION