Frequently Asked Questions (FAQs)

One of our Frequently Asked Questions is about why leasing is a good option for a business. Leasing is a process by which a firm can obtain the use of certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments. The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets.

No major capital outlay

Once you’ve signed a lease, your only immediate expense is the admin fee and your first month’s payment. You’ll benefit from using the latest, high-performance equipment without paying a full upfront cost.

Affordable monthly payments

We’re supply devices to suit various budgets as a more cost-effective means of accessing the latest technology without breaking the bank.

Full warranty

All our devices come with a three-year AppleCare warranty, so you never have to worry about hardware repairs or maintenance. Plus, if your device needs repairs, we offer replacement devices to keep your business running smoothly.

Support

With all Lease Loop devices, you can access a 24/7 AppleCare team for direct support with any hardware or macOS issues.

Upgrades

You don’t have to wait until the end of your lease before upgrading to new equipment. With Lease Loop you can easily upgrade your Apple device once you’ve reached the end of year 2 in your 3 year lease. This level of flexibility ensures you always have access to the latest technology.

End of lease options

We have very clear and transparent end of lease terms. At the end of the lease, you make one more months repayment to keep full use of the equipment. Should you go into a new agreement within 30 days of your lease expiring we will reduce the one-off repayment down to a £1 + VAT as a way of saying thank you for the continued custom.

Our hassle-free order process is designed to save you time and ensure swift delivery.

All you need to do is:

• Call us or visit our website and choose your perfect device from our wide selection of Apple products
• Select the product that meets your requirements and budget
• Configure your product with the required memory, storage, colour, and accessories
• Add to basket and proceed to the application
• E-sign your agreement and receive a same-day decision
• Receive your product within 24 hours of your application being approved

Get in touch with the team at Lease Loop today to ensure you have the best Apple products with Apple Leasing for Business.

Yes you do – they are an industry norm, charged by all of the lease companies that we work with.

The fees vary from £50 + VAT to £125 + VAT per deal and this comes down to the funder used. The average documentation fee is £100 +VAT.

Yes – All of the lease companies that we use require our customers to prove that they have the necessary business contents insurance to cover the leased equipment.  During the ordering process we will ask you to send us a copy of your insurance documentation so that we can forward this to your lease company.

With your consent all of the lease companies are able to arrange asset protection cover and this will be added to your monthly direct debits as standard.

A FTL lasts for a maximum of 36 monthly repayments, whereas a MTL carries on for a minimum of 36 monthly repayments. The amount of time will depend on the funder.

For MTLs, we’ll get in touch to advise that you contact your funder, with your agreement number, and no later than 90 days prior to the 36^th monthly repayment, telling them you wish to terminate the lease after this repayment. This way, you’ll guarantee that you only repay the 36 monthly repayments.

You have two choices: simply return the Mac device to us, or pay a one–off secondary rental to extend the lease forever, allowing you to keep full use of your Mac.

With the second option, this is equal to one month’s rental. Whilst existing legislation doesn’t allow you to obtain Mac ownership directly from us at the beginning of the lease, the one-off payment gives you sole use. If you ever wish to sell the tech during the secondary period, then we’ll simply raise an invoice and refund you the proceeds.

From the moment the Mac device is delivered to the 23^rd payment made, we cannot extend the lease to include any new equipment. We therefore recommend that you take out a new lease that runs alongside the original one. Once you’ve made your 24th repayment, you have the option to either do this, or upgrade.

This involves us taking the remaining balance of your original lease and refinancing it over three years. The upgrade figure is calculated by adding this to the cost of your new device. Subsequently, the first lease is settled. We reduce the secondary rental to £1 + VAT as a thank you, and you get to enjoy the full use of the original tech.

Yes – every lease has complementary three-years’ parts and labour hardware warranty. You’ll also benefit from 24/7 AppleCare telephone/chat support – direct access to expert Apple technicians who can try to solve any hardware or macOS issues.

Plus, our leases come with temporary loan machines. Should we need to take your Mac away for repair, we’ll provide you with one to use until we return yours. So you don’t have to worry about business downtime. Our loan machines are typically 15” MacBook Pros, or 27″ iMacs. 

If you have a question our Frequently Asked Questions section hasn’t covered then please get in touch. We would love to hear from you.

If your business ever experiences financial trouble, and you think you’ll struggle to pay your monthly direct debit, please contact us for a confidential conversation. Communication is key: by alerting us to any potential inability to pay, we can approach and speak to the funder. They’re incredibly supportive and will determine the right steps forward (like when they provided proactive solutions during COVID-19).

Even if the situation is severe enough that your business faces closure, communication is still crucial. You can work with funders on matters like returning equipment and fulfilling any obligations. 

A common problem is that some feel embarrassed and ignore the situation, not communicating with us or the funders. We strongly advise against this. If you don’t keep up with your payments, the funders will see a series of unpaid direct debits. This will naturally elicit a sterner, less passionate response from them, leading to actions that impact your long-term ability to raise credit for yourself or the business. It’s better to be open and collaborate.

Our relationship with customers is three-sided between our customers, our funders, and ourselves. Every party wants to see your business thrive. So, if you’re facing challenges, we encourage you to talk to us. We can then provide the necessary guidance, and you can work with the funders to survive the tougher times, and bounce back.

Every business has its challenges; you can overcome speed bumps, but not if you ignore the problem. As a Lease Loop customer, we’ll always be there, in good times and bad. By being honest with us, a resolution will be found, and the stress of the situation reduced.