Finance Leasing

Finance your spares and equipment with ease

Running or upgrading a plumbing supplies operation? With Blast Spares Direct you can spread the cost of your essential equipment thanks to flexible leasing and hire-purchase options designed with your business in mind. 

Why finance through us?

• We work in partnership with the trusted finance provider Kennet Equipment Leasing to offer finance packages across our product range. 
• Lease or Hire Purchase plans mean you get the gear you need now, pay in manageable monthly instalments, and protect your working capital. 

ASSET LEASING and BUSINESS EQUIPMENT FINANCING EXPLAINED

Equipment finance is typically provided by way of a Leasing agreement or Hire Purchase facility. This enables you and your business to invest in vital equipment with the cost of the investment made more affordable through monthly or quarterly payments appropriate to the asset type and needs of your business. 

What is a Hire Purchase?

Hire purchase is a form of finance that can be used to buy new or used equipment. You essentially hire the asset over the contract period and once the facility has been paid off, you are the legal owner of the asset. 

Benefits of Hire Purchase:

• Rather than one large sum, you can spread the cost over a 2 to 5 year period. 
• Makes larger more expensive assets more affordable to the business. 
• Flexibility, you can choose a fixed term and deposit that suits you. 
• As the hire purchaser, you’ll own the asset after paying the option to purchase fee. 
• There are usually no taxes charges on Hire Purchase agreements. 
• Hire Purchase can be paid off early, depending on the customer. 

Things to be mindful of:

• Asset depreciation. 
• Non-payment could negatively affect the credit rating of the business and the guarantor and could result in the asset being re-possessed. 

What is a Finance Lease?

Essentially, Finance leasing enables the business to acquire the assets needed to maintain a business, without needing to buy the asset outright. 

Benefits of Leasing:

• Finance Leases offer flexibility in terms of length of agreement, rental repayment profile and end of lease options. 
• Unlike making an outright purchase, you will retain cash within your business. 
• Effective financial planning. The lease repayment profile gives you confidence in being able to budget for the lifetime of the asset. 
• Tax advantages 
• Using the latest assets will ensure you remain competitive by keeping your costs low. 
• Fast turnaround times 
• Potential to carry on using the asset at the end of the lease period for a nominal payment, or you can look to upgrade the equipment with another lease. 

Things to be mindful of:

• The agreement is secured against the asset. 
• Non-payment could negatively affect the credit rating of the business and the guarantor.