The construction and engineering industries are highly competitive, so it is important to stay ahead of the game. Leasing can help you obtain the equipment your business requires to ensure you can keep pace with the latest technology. Investing in new plant equipment and machinery can be a huge outlay, but leasing offers an advantageous alternative for the construction sector to buying with highly competitive interest rates. Indeed, with banks reducing the amount of overdrafts and loans available to businesses, leasing and asset finance is increasingly being considered as the best and most tax efficient way to acquire new equipment or assets for the sector.
With a lease agreement, the asset you require is yours to use straightaway, but you pay for it in installments over a fixed period of time, which helps you spread the cost over the life of the equipment. You can also upgrade or expand your resources easily, as and when the need arises.
Furthermore, with leasing you have a fixed interest rate. This protects you against interest rate rises and enables you to plan your budget effectively. And as inflation rises, because your payments are fixed, the cost of the equipment reduces in real terms.
A wide range of equipment, from milling machines and welding equipment to portacabins and cement mixers, can be leased. Some of the types of equipment that can be leased include:
- Welding equipment
- Vehicles (e.g. cement trucks and tractors)
- Plant equipment
- CNC machining centres
- Surveying equipment
- IT hardware and software
- CAD software
WestWon Limited has a wealth of experience in providing asset finance solutions for the construction and engineering sectors. For more information, download your free Essential Guide covering Construction and Engineering Equipment Leasing for Business. Or call Tel: 01494 611 456 for more information and an instant quote for the equipment you require.