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Leasing a versaCAMM ?
I’ve been looking at getting a versaCAMM for doing my t-shirts lately and I’m really impressed with the results I’ve been getting and I’ve decided to go for one.
Buying is not a option at the moment so it would have to be rent or leasing
What’s the best method or route for leasing a versaCAMM?
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9 Replies
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Hi John
Get in touch with Systems Finance Tel no 01386 760 000 and ask for Tom Langrick. Alternatively you can e-mail them – info@systemsfinance.co.uk. I am sure they will be able to help you. I finaced a Versacamm 300SP through them back in August. Very quick service. No real hassle.By the way can you give me a steer on how you use the versacamm for T shirts. IE what sort of material do you use.
Regards
Richard Fuller
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printmax do this sort of thing allot with cadets, maybe and idea to try them?
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I always see Printmax advertised, I also know a couple of peeps who have used them. I wonder how many members actually lease one/or something else or own one …. I feel a poll coming on :lol1:
I must admit we are more than happy to buy our printing in, we have a great peep from here who does it for us, so great service, great price, great prints and very reliable. So we have no need to look into it …. plus we dont get huge amounts of requests for printing … must just be our area perhaps?
😀
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the deal i was offered from my supplier (thorugh a leasing co.) was;
a five year lease at bout 6% with a 1 dollar buy out at the end.
It’s pretty much like a loan, at a good rate.. they just offer this to help in selling the machine.
It benifits the buyer, because if you were to buy it with a loan, you’d be getting about the same deal, but it’s esier to get a lease than a loan. Also a lease is 100% write off, if you’d buy it you’d have to depreciate it.
I think leasing is the better option in this day and age, because of equpment getting outdated quickly.
if you have the cash you’d save a few thousand, but if you shop around and get a lease at a decent rate, i believe it’s the best option for this type of purchase.
just my .02
steve
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i agree with steve, try and go with another loan firm…the banks have the cheapest rates just now…and printmax couldnt match them, just an idea 😀
nik
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Call it what you like, financing equipment is just borrowing money. No more and no less.
When I have needed finance I have always preferred to do it on bank overdraft rather than a fixed payment method. Firstly I can usually get a better rate of interest from my own bank and secondly because that way I am only paying interest on what I need to borrow. What I mean is that if I have a good month my overdraft is less and consequently so is the interest I pay. The reverse also applies in that if I have a bad spell there is no pressure to pay a fixed monthly payment.
Next, the equipment is mine. If it becomes obsolete, or it just turns out to be no good, it is mine to sell and replace with something better as opposed to suffering financial penalties trying to get out of a financing deal.
The cost appears on my balance sheet as a fixed asset rather than just a lease liability making my financial position look better.
I don’t understand why the 100% tax offset on leasing, which is always quoted by accountants, is seen as such a good thing. With a lease you can only claim 100% of the payments you make in that tax year, whereas with a loan or hire purchase I can depreciate 100% of the total cost of the asset and with a four year lease and a 25% depreciation rate the amount of tax claimed in the first year is identical. On top of that, the interest element is totally reclaimable in the year in which it is incurred.
Finally, a five year lease on a bit of kit that is going to be obsolete in two years? OK, let’s be generous, three. Where’s the commercial sense in that? If I buy one it has got to pay for itself in two years or I’m not interested.
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Good Points John…
Changed my view certain things. -
nice reading john….i have learnt more from your post than what my account ever told me 😉 (thats why im changing) 😀
nik
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Thank you for those kind words folks. Sometimes, even if you know what you want to say, it can be difficult to put into words, I’m glad it was comprehensible.
Perhaps, in the interest of completeness, I should add a word of caution. A bank overdraft is repayable on demand, but hire purchase or a lease is for a fixed period and the lender cannot vary that.
Therefore you should only go the overdraft route if you are reasonably financially secure. If there is any doubt about that then hp or a lease does offer a bit of security against an intransigent lender.
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