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Software Finance and Leasing

Software finance may not be at the forefront of many company directors and even IT Managers minds. There are some sensible reasons for them to not be aware and to think like this.

Companies do not buy software, they purchase a licence to use the software, for a pre-agreed period of time or forever. Software authors such as Microsoft or Sage only grant us a licence to use their software as they own the source code and intellectual property in it. Finance companies need to “own” the asset that they then rent out to customers. Clearly, they cannot own the software asset as all they are buying is a licence.

However, we do lease computer software and have done for nearly thirty years. Working with a range of finance companies that are comfortable financing software to end user companies.

Why Choose WestWon?

We partner alognside 20 different funders that are on board with software leasing
Currently arranged over 770 software leases for over £29 million in value
Our biggest software lease was for £1.585m, the smallest £1,100
The database we use has 958 unique software companies in the UK
Authorised and are fully licensed by the FCA.

Decision in 24hrs
Industry Leading Rates From 2.5%
95% Acceptance Rate
5* Customer Service

Software Finance Calculator

Contact Sales

1. For software leasing enquiries over £100,000, please contact us directly on 01494 611 456.

2. The rental price indicated is for general guidance and is subject to credit approval.

3. Business users only.

Software Leasing Process

Why finance software for your business?

Cash flow
You will be able to keep funds in your business to be used elsewhere
Alternative funding lines
No need to use up an existing bank facility
The latest technology
Always have the latest software at your disposal by implementing a refresh strategy, whereby at the end of the lease period you get the latest license on a new agreement.

VAT
On rental agreements VAT is paid in the rental, not in full and upfront
Pay for the software as you use it
Companies pay employees over time as they work, so why pay all the cost for the software in advance?
Tax planning
Using a lease rental agreement, 100% of your rental is deductible against your company’s corporation tax

Software Leasing FAQ’s

What is the smallest and largest software finance deal you can do?

We can write any software deal starting from a value £1,000.00 + VAT. Our smallest software deal is £1,097 + VAT. Our largest software lease to date is just under £500,000 + VAT!

What is a normal software finance deal value?

Our average software deal is £21,000 + VAT over a 3 year term.

How long can I finance software over?

For software, most deals we do are either over a 1 or 3 year subscription. However we can lease software up to a 5 year term.

Is there an advance payment?

Often we take a one month deposit however to keep the monthly rentals lower you can pay more upfront if you wish.

I want to keep the software at the end of the rental agreement, can I do this?

This all depends on the software sold by your supplier. If it is a perpetual license, then yes there is an option to own the software at the end of the rental agreement. If the software is not perpetual, then you can renew the software on a new finance agreement.

Can I include multiple types of software on one agreement?

Yes, we can build multiple software licenses into one agreement. Whether it’s one user, or multiple users including different modules, you can pay for these using one monthly payment.

What type of software can I include on a lease?

A varied range of software can be included on a lease, in short there’s too many types to write down! Examples of types of software we have used to date include Microsoft software, server software, stock control software, construction software to name a few! Contact us now for more information.

How quickly can you arrange software finance?

Applications can be accepted within a few hours and once documents are signed, the software can be delivered and the agreement activated within 2 working days.

Can I lease Software without including any hardware?

Yes. WestWon can finance 100% software agreements, no hardware is needed!

Can I pay the lease off early?

Yes. The finance company will work out a settlement figure based on how many rentals are left to pay.

You might also be wondering…

I am a new start company, will you credit clear me?

If you are a home owner and have a clear personal credit history, we should be able to source funds for you, normally up to £50,000 for software.

I am an established business trading over three years, what information do you require?

Often, we just take a look at the information in the public domain at Companies House. However, there are times when we will ask to see bank statements, last year’s full audited accounts and management accounts.

Can WestWon recommend me a supplier of software?

Yes, work alongside a number of suppliers of software in a range of industries. We would be more than happy to put you in touch with a company who can assist.

I have a CCJ / my company has a CCJ, will we get finance?

If the CCJ is satisfied and there is a good reason for the County Court Judgement, then we will argue your case. However, if you have an unsatisfied CCJ, then sadly we will struggle to get finance.

Another finance company has said no, will you be any different?

Some leasing companies just do not like financing software. For some company’s it’s seen as too big a risk as there is no tangible asset to be used as security should anything happen to your company during the lease term. WestWon are specialists in the financing of IT equipment, including software.

Can I add more licenses to the lease at a later date?

Technically you can, but nobody ever does. It is more cost effective to set up a brand-new lease.

How cheap are your lease rates?

We do not normally lose business because we are too expensive. Our view is to give cheap lease rates and make sure we do more business together in the future.

How often do your customers come back to you for more business?

WestWon customer retention rate is extremely high, our latest figures shows that over 80% of customers will use WestWon again, mainly due to our level of customer service and the range of assets we finance.

Can I use my own supplier of software?

Yes, it is up to you who you use as a supplier.

Software Finance and Leasing Case Study

Financing Stock Software

Established family run plant nursery in Essex needed assistance to manage their stock levels. Leasing stock software was their solution.

Find Out More

Leasing software for your business Case Study

Financing Accounting Software

Leading infrastructure contractor based in Manchester chose to finance through WestWon as they can facilitate not only software only finance deals, but could also include an element of consultancy, implementation and training costs.

Find Out More

Software suppliers and authors looking to offer finance to customers

Software Finance and Leasing for your business

If you are a software supplier and wish to finance software to your customers, then we can help. Here at WestWon we already work alongside many software companies that have either written their own software or resell third party software such as Microsoft or Sage. Check out our partner page HERE!

Call us on 01494 611 456 for further information on leasing your software equipment

Contact Sales

Software Leasing

Blog

Software Finance and Leasing

Why Choose WestWon?

Software Finance Calculator

Software Leasing Process

Why finance software for your business?

Software Leasing FAQ’s

You might also be wondering…

Software Finance and Leasing Case Study

Leasing software for your business Case Study

Software Finance and Leasing for your business

Software Leasing

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