Can you finance equipment from a value of £1500?

Can you finance equipment from a value of £1,500?

Can you finance equipment from a value of £1500? The short answer is yes, however, there are several factors that can alter this, which are discussed below.

What is the minimum value at which you can lease equipment in the UK?

Throughout the UK different leasing companies all have different policies on whom they lend to. This also includes what kind of assets they provide finance for. This therefore impacts their minimum lease value.

Some have a minimum lease value of either £2,000 or £3,000, however ours can offer finance from a value of £1,500.

Why do companies not like financing equipment under a value of £3,000?

Without complicating the matter, leasing and finance companies have to lend money to stay in business. Their amount of deals would decrease if they leased under £3,000. This is because they would have to write a larger number of deals to reach the same amount of money as they would if the value was bigger.

This is why most leasing companies wish to focus on bigger value deals. Therefore cash flow is steadily maintained, essential for the running of any business.

However, there are always costs involved including for underwriting, managing the deal and processing. Often leasing companies will divide their cost base by the number of deals they write every year, which normally costs around £150-£250. This could counteract the leasing company’s money they make on a deal. They then end up losing money which is why smaller deals are usually less common.

So, why would a leasing company arrange a lease for £1,500 if they are going to lose money?

The importance of customers is what keeps leasing companies agreeing to such small deals. They offer a service to their end user customers, suppliers and partners. They can always make the profit up elsewhere in their business. It also keeps competition out of their accounts, and away from their customers.

Why do WestWon Dental offer leasing for capital equipment values £1,500?

There are three reasons for this, seen below:

Here at WestWon Dental we pride ourselves on quality customer service. Making sure the customer is happy at the start, during and end of the agreement is our first priority, so any finance needs you have, we will take care of it. At WestWon Dental we build relationships with suppliers that matter.

Avoiding the smaller deals, you cut out a lot of business and relationships that could lead to better business in the future. It also keeps the competitor out. We are interested in what our end user customer base looks like. Smaller business customers will no doubt grow, then come back to us further down the line for help with larger finance deals.

We use echo sign documentation for speed purposes as well as collecting the rentals via direct debit. Our state of the art CRM system and partner portal allows us to have a fast and efficient process.

Contact Us

If you would like to find out more information about whether you can you finance equipment from a value of £1500, or any other finance needs you may have then please call us on 01494 611 456. Alternatively, you can email us on hello@westwon.co.uk.

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© 2022 WestWon Limited T/A WestWon Dental
WestWon Dental is a trading name of WestWon Limited. The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get In Touch page.
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