Finance & Leasing

Working closely with most of the UK’s major funders that have an interest and an understanding of the powered access sector, Workplatform can help you make the most of your powered access investment through bespoke and flexible financing options.

OPTION 1 – Hire Purchase

This is the traditional and most common method to finance your access platform. The length of the term can be between one and seven years, three or five year agreements are the most common. At the end of the term you will own the asset. Deposits can be flexible and you can choose to have a fixed or variable interest rate. VAT is paid in full at the outset along with the deposit.

Benefits:

• Tax benefits may apply
• Outright ownership at the end of the contract

OPTION 2 – Lease Purchase

Very similar to Hire Purchase but you have a balloon payment at the end of the agreement. The larger the balloon payment, the less the monthly payments will be. Balloon payment amounts are set by the funder based on machine type, length of term, work undertaken and status of prospect.

Benefits:

• Lower monthly payment than Hire Purchase

OPTION 3 – Operating Lease

This method of ‘’off balance sheet’’ funding is a becoming a very popular alternative to conventional finance. You simply decide on the length of term, usually between two and five years. You then pay one monthly payment each month for the length of the term, each payment attracts vat. All of your servicing, maintenance and inspections are included. At the end of the term the machine is returned. You therefore have the benefit of allowing all the rental payments to be written down against tax.

Benefits:

• Low deposit
• Off balance sheet
• Payments include Service, maintenance and inspections

Please call Freephone 0800 849 6101 for more information.