Im looking at installing a ramp in my workshop and have heard that they can be leased rather than bought outright?

Does anyone know where I can lease one from and approximately how much I am looking at?

Cheers
Chris

 

Anything like this chris?

http://www.kentgaragequip.co.uk/recon.html

 

There are a few up on ebay quite regularly, some are advertised by professional companies who sell new / install / maintain, etc... worth a look methinks.

 

Drop bamber a PM as his mate refurbs/sells them

 

If you buy it becomes an asset for the company and you can get tax'd on that after you first year buying it, lease it and its forever an exspense, but they replace every 3-5years. or for private use just buy one from EBAY

I'm looking at leasing one at the moment.

 

I've been considering this for a while, but always worried about the safety side of things.

What are the maintenance requirements for these ? Costs ?
What should you look for / avoid when buying second hand ?
Is the installation a pro job only ?

 

non of the leasing links work on there

there only 850 thought they would be in the thousands tbh

 

http://www.stenhoj.dk/
http://www.7zg.com/gemco/default.php

These are who we use.

 

Give a company called Alliance & General a call - 02476 220000. They're a finance brokerage who deal in garage equipment, they'll be able to help if you want to lease one.

 

You don't get taxed on your assets - unless you sell them and then get taxed on any extra over the written down value.

If you aren't VAT registered forget leasing because you can't reclaim the VAT on the lease rentals.

 

i was quite impressed with these for a home garage type thing

http://www.revolutionlifts.com/

 

this is true... and if they are written off well, you wont pay anything...

computers for example are "worthless" after 1 yr on the books

 

cheers for the advice guys, i do want to lease rather than buy, mainly due to having warranties/replacements etc if they go wrong. I am vat registered so deffo a benefit for me!

Cheers
Chris

 

A lease doesn't, in itself, give you any warranty - it is only a funding method. Warranties are often bolted onto a financing agreement as an extra cost (more profit for the equipment seller to sell a warranty at the same time) but that can also apply to HP, outright purchase, etc too.

Operating Lease is "off balance sheet" funding which means the asset doesn't show on your balance sheet so you get no writing down allowance, but the lessor reflects his allowances into your rentals - that is particularly good if you don't have enough taxable profits to utilise the allowances yourself.

The most common example of Op Lease is Contract Hire on a car, but it can be done on equipment too. Because Contract Hire usually includes maintenance and mechanical repairs people often think that a lease automatically includes these services. The downside of Op Lease is that if you want to keep the equipment beyond the end of the agreement, rentals don't drop by much, if anything. That's because the Operating Lease rental is based on the expected depreciation of the equipment, and it needs to be sold at the expected date to provide that residual value.

Typically an asset will go on a Finance Lease, with periodic rentals. Depending how the lease is written you will either
A) have a lump sum (balloon) to pay at the end, followed by small (peppercorn) rentals forever until the asset is disposed of or
B) pay higher rentals during the life of the agreement, but no balloon.

Whichever, a finance lease never transfers ownership to you (though there are ways around that, none of which are entirely correct) and the peppercorn rentals continue until the asset is gone.

Computers and IT equipment have special depreciation rules - something like a ramp will raise serious questions at the Revenue if you try to write down at much more than 25% of the reducing balance per annum - that means it won't be effectively worthless for about 20 years. And yes, the taxman does know about typical second-hand values for vehicles, plant and equipment - they subscribe to the same trade publications and go to the same auctions!

Before making a decision you need to talk to your accountant. He's the only one independet enough to give you proper unbiased advice on the best funding method for your business. Dealers, finance companies and even your bank will all want to be selling something.