Portman Asset Finance - Leasing Frequently Asked Questions

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Naturally you will have questions regarding Leasing, we have provided answers to the most frequently asked questions but you can contact us on 01604 761276 and ask for Rory Dunn if you would like further clarification.

I haven't used leasing before

There is nothing to worry about, 8 out of 10 accounting firms, Government bodies and 85% of the Times Top 100 companies use leasing. It is a very popular form of payment and one that benefits organisations.

What size of transaction can be financed?

The minimum lease value is £1,000 (ex. VAT) but we finance transactions right through to multimillion pound projects. Regardless of project size, the benefits remain consistent.

How long can I lease assets over?

You can lease assets over a term to suit your needs, subject to the asset in question. Our agreements are flexible to suit your organisation.

How are the rentals treated for VAT?

Rentals attract VAT in the normal way except for Lease Purchase agreements, where the VAT is paid in full up front.

Will I have to pay by Direct Debit?

Like most industries you will benefit from the lowest payments if you pay by Direct Debit, but it may also be possible to request an invoice only arrangement.

Will I have to put down a deposit?

No a deposit is not always required. We can accommodate initial payments to suit your business’s needs. 

Will I own the product at the end of the term?

Our Leasing rental agreement is totally flexible at the end of the initial term. Like many organisations, if you do not wish to return the goods at that point, you can choose to retain the equipment for as long as you want or permanently for a one off charge. However, for you to have gained the best tax advantages during the term you will not legally own the asset.

What happens if I don't keep up the payments?

Like any agreement, you are agreeing to make the payments as set out in the document. If you fail to make these payments then steps will be taken to remove the leased goods and enforce the terms of the agreement. A benefit of leasing, unlike most bank facilities, is that there is no link to the broader financial performance of your organisation. As long as the rentals are paid, the facility cannot be withdrawn.

Will signing a lease, reduce my ability to gain credit elsewhere?

No, signing a lease with us will leave all of your present lines of credit in place; if anything it may help you gain more credit in the future.