Your business needs the best equipment to stay competitive

But buying outright can be a difficult decision, especially when you take running costs into account. Leasing makes big upfront investments a thing of the past. Here are the core products offered by TCM Financial Solutions.

Hire Purchase

Hire Purchase lets the eventual owner of an asset pay for it gradually, giving financial security and predictability. It’s very flexible, with a wide range of options for the deposit amount, repayment amount and repayment frequency. Payments can even be matched to a seasonal income cycle. Because all terms are agreed upfront, Hire Purchase also gives protection against any increase in interest rates.

Benefits of Hire Purchase:

• Accurate budgeting with fixed interest and repayments
• The interest element included within payments could be registered as a business expense and is therefore tax allowable*
• The cost of the equipment could be tax allowable through Annual Investment Allowances or Writing Down Allowances*
• Option to own the equipment at the end of the agreement is subject to a nominal fee for title transfer

Contract Hire

Contract Hire is a fully inclusive way to rent equipment, with servicing and maintenance rolled into rental payments. Rather than purchasing a depreciating asset outright, you can enjoy all its benefits by leasing it over 12 to 84 months. At the end of the contract the equipment is returned to us. If all return conditions are met, there’s nothing more to pay.

Benefits of Contract Hire:

• All inclusive, giving peace of mind that assets are looked after reducing the risk of down time
• Low initial cost with all payments (including VAT) repaid across the contract period
• Tax efficient because rental payments  may be counted as a business expense*
• Allows accurate budgeting with minimal risk
• Pay for usage, not ownership
• Improved return on equity (compared with Hire Purchase)

Operating Lease

An Operating Lease is a smart way to access and operate the latest equipment with minimal risk. Over the course of an agreed contract term, you pay a fixed periodic rental (+VAT). During the contract, you’ll have full, unrestricted access to the asset. At the end of the contract the equipment is returned to us. If all return conditions are met, there’s nothing more to pay.

Benefits of an Operating Lease:

• Low total cost and low initial cost, with all payments (including VAT) repaid across the contract period
• Tax efficient because asset repayments may be counted as a business expense*
• Allows accurate budgeting with minimal risk
• Maintenance costs can be included in the repayment plan
• Pay for usage, not ownership
• Improved return on equity (compared with Hire Purchase) 

*TCM Financial Services does not offer tax advice; refer to your accountant for Lease Accounting/Taxation advice.