Leasing/Rental Arrangements
Lease/rental agreements can be arranged by SITSS through Investec, on most types of equipment. Payments by instalment can cover associated installation and training costs. Under this scheme, you will need to arrange for the equipment to be covered by a repair contract for the period of the lease. Payments can be arranged over a 2, 3, or 4 year period, with annual or quarterly payments. (Note VAT is chargeable through the lease/rental scheme, but can be reclaimed.)
If you lease/ rent your equipment, it will never become the property of the school.The leasing company calculates their charges based on anticipated residual value of the equipment at the end of the lease. The residual value is the price, at which the leasing company hopes to be able to sell-on at the end of the leasing period. (This could be approx 10% of purchase price). The company providing the money for the lease hopes that you will wish to continue renting the equipment when the lease expires, in which case the rental will be calculated on the estimated residual value.
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