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Great News… It isn’t!
Elevated Access New Zealand Ltd works side by side with one of the best finance companies in New Zealand. They understand scissor lifts and boom lifts and they understand exactly how purchasing or leasing a scissor lift or boom lift helps you get your job done.
Your funding can be approved very quickly and with the minimum of form filling.
What we really like about our chosen finance partner is that they won’t just send you a bunch of forms to fill in. They’ll actually get out from behind the desk and come and meet you to see how they can help you get what you need and make it as affordable as possible.
Hire Purchase Vs Lease
What’s best hire purchase or lease?
All businesses are different some people like to own their own access equipment and some people like to lease it or have an affordable long term rental.
Below, is a guide to the different options. Whichever option suits you and your business best, we’ll help you get it all sorted quickly and easily.
Option 1 – Hire Purchase
This is the most common way people choose to finance their equipment when they want ownership of the asset. The length of the term is normally between 1 and 5 years. Regular monthly payments are required and at the end of the term, you’ll own the asset.
No deposit is required, the GST content is required up front, but of course you’ll get that refunded from your IRD claim.
Benefits:
* Tax depreciation benefits will apply
* Outright ownership at the end of the term, with an assured value and no debt
* Generally much cheaper than regular hiring of equipment
* No time wasting having to travel to pick up equipment or hanging around waiting for it to be delivered.
Option 2 – Lease Purchase
This is a great option if cash flow is often unpredictable. Very similar to hire purchase but you have a balloon payment at the end of the agreement, this keeps the monthly repayment really low. The bigger the balloon the lower the monthly repayments will be.
Benefit:
Lower monthly repayments than hire purchase.
Option 3 – Fully Maintained Operating Lease
This “off balance sheet” funding is becoming increasingly popular, you simply decide on the length of the term, usually between 3 and 5 years. You then pay one monthly payment each month for the length of the term, each payment attracts GST.
Servicing, maintenance, inspections and safety certifications are included.
At the end of the term the machine is returned, you then have the benefit of allowing all rental payments to be written down against tax.
Benefits:
Off balance sheet
You don’t have to think about safety certificates and servicing for your access equipment, we take care of all the details
If you would like to learn more about our Finance & Lease Options, or any other options
please call us 0800 222 111
