What you need to know

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 – Upon signing a lease your only immediate expenditure is the administration fee and your first month’s repayment. You get to enjoy the full use of the latest equipment without having to pay the full upfront cost.

Tax deductible – All lease repayments are treated as an operating cost. Meaning you can reduce the taxable profit of the business by 100% of the charges.

Maintains credit lines – Leasing your equipment means that you do not exhaust your businesses other lines of credit.

Fixed repayments – Your lease repayments are fixed and will remain constant regardless of what happens to the bank base rate.

These are an industry norm and are charged by all of the lease companies that we work with. The fees vary from £50 + Vat to £125 + Vat per deal and this is determined by the funder that is used. Our average documentation fee is £100 + VAT.

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.

Depending on the funder that is used, you will either enter into a Fixed Term Lease (maximum of 36 monthly repayments) or a Minimum Term Lease (minimum of 36 monthly repayments). If your agreement is a minimum term lease we will contact you during your lease advising you to contact your funder, with your agreement number, no later than 90 days prior to the 36 monthly repayment, telling them that you wish the lease to be terminated after the 36 monthly repayment.

By contacting the lease company and advising them that you wish to terminate the lease at this stage will ensure that you only repay the 36 monthly repayments.

You can either return the equipment to us or you may enter into a secondary period. A one-off payment, equal to one monthly rental, is all that is required to extend the lease indefinitely. Existing legislation prevents the lessee (our customers) obtaining ownership of the asset directly from us at the beginning of the lease. However, upon receipt of the one off payment you will have sole use of the equipment.  If at any stage during the Secondary Period the customer wishes to sell the goods, Lease Loop raises an invoice and refunds the proceeds to the customer.

Once we have delivered your new Macs we are unfortunately unable to extend the lease to include any new equipment. Therefore, we recommend that you take out a new lease that runs alongside the original one.

However, once you have made your 24th repayment we can offer two options. The first is to take out a brand new lease that runs alongside your original lease. The second is to upgrade. We take the remaining balance of your original lease and refinance this over 3 years. The upgrade figure is calculated by adding this to the cost of your new equipment. As a result 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 equipment.

All of our leases come with a 3 years parts and labour hardware warranty. Customers also benefit from 24/7 telephone support which we provide through AppleCare. This gives our customers direct access to Apple technicians when they have a hardware or macOS issue. In addition, all of our leases come with a temporary loan machine as standard. So should we have to take your Mac away for repair we will provide you with the temporary loan machine to use until we return yours. Our loan machines are typically 15” MacBook Pro with Retina Displays, or 27″ iMacs.