Steadplan Finance 

A simple way to buy an asset and spread the cost over a defined amount of time. You’ll pay for it in instalments – we’ll create a simple payment plan tailored to suit your budget and cashflow requirements – and when the term ends, you’ll have full ownership of the item on payment of a nominal fee. Because you own the asset, you’ll be responsible for maintenance and insurance costs.

• HP is more flexible than a conventional loan, with the cost of the investment spread over an agreed payment term. It’s particularly suitable for large pieces of equipment with a resale value.
• Regular monthly payments make it easier to budget and frees up working capital
  A flexible repayment structure allows for seasonal fluctuations and can reduce monthly outlay by factoring in a balloon payment at the end of the term.
• You may be able to take advantage of tax relief on capital purchases and offset repayment interest against profits.
• Providing your company is VAT registered, VAT can be reclaimed on the cost of the asset.

A finance lease works as a rental agreement. We buy the asset you need and rent it to you over the duration of the lease contract. That means you have it straight away, and only need a fraction of the total amount up front.

At the end of the contract, you can continue renting, return or replace the equipment, sell the asset or return the asset and terminate the rental agreement. In some instances, maintenance costs are included.

• You can protect your working capital by accessing equipment quickly without any significant initial investment

• Your lease payments and periods can be designed to match cashflow

• You can decide what to do at the end of the rental period

• VAT may be reclaimed on monthly payments and rentals can usually be offset against pre-tax profit