Finance Lease

Similar to a Fixed Term rental agreement but aimed at longer life assets, a Finance Lease allows for the hire of goods for an agreed period of time where payments are made in return for the use of equipment or vehicles. However, at the end of the term the equipment or vehicle is sold and then your business can receive a rebate depending upon the sale price. Typical rental periods are between two and five years.

Arkle’s Finance Lease agreement is ideal for medium and long life equipment and vehicles. While Arkle will be the owner of the equipment during the term of the lease, you will retain all benefits and risks of economic ownership. There are various forms of leases in the market so before you sign the documents it is your interest to read the small print and fully understand the terms and conditions of the lease agreement.

How it works

  1. Choose your equipment or vehicle.

  2. Once you’ve signed your agreement with us, the equipment
    or vehicle is yours to use as you wish. You’ll be responsible
    for the maintenance and insurance and you’ll pay us a fixed
    number of rental payments, which attract VAT over a fixed
    period of time.

  3. At the end of the fixed term (usually between two and five
    years), you can either:
    hand the goods back to us without paying anything else,
    pay an annual secondary rental and continue
    to roll your contract over for another year, or
    sell the equipment or vehicle to a nominated third party.
    We’ll refund rental payments up to 95% of the net
    sales proceeds, minus any associated costs.

    As this is a rental agreement, you won’t own the equipment
    or vehicle but you’ll get all the benefits and risks of economic
    ownership. You can end the agreement early by returning your
    goods and paying the remaining rentals.

What’s so good about this product?

  • Choose between one and seven year repayment terms.

  • When the equipment or vehicle is sold you receive a refund of rentals.

  • Sign your agreement digitally and say goodbye to print
    and post.

  • This product can be flexible and allow the rentals to vary in line

    with your seasonal income. This must be agreed prior to the

    start of the agreement. 

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