Have you paid for a new vehicle or a piece of equipment only to later realize that getting finance would be a much more feasible option? If you have just realized this then it is still not too late to get a sale and lease back contract.
As the term would suggest you need to sell your equipment or vehicle to a financier for a price and then they lease it back over to you through a finance lease. At The Port Finance group we have a number of Sale and Lease back packages which are available for both equipment and vehicles that are purchased within a six month time period.
Here are a few benefits of sale and lease back:
- No loan approval needed nor an establishment fee
- You inject the money you get into your business
- Since the payments are fixed it allows for accurate budgeting, which protects against higher interest rates
- Rentals tend to be tax deductible if what you have leased is being used to generate income which is taxed
- You need to pay GST on your monthly rentals
- You can arrange for direct debiting of those monthly recurring payments which saves you money and time