Finance
We ensure all our customers benefit from a funding solution that best suits their specific requirements
In today’s challenging economic climate, financing equipment purchases allows you to retain cash within your business. It broadens your options and matches finance payments to the period of use and economic life of your equipment investment.
At SGM we have a team of professionals dedicated to providing competitive finance quotes for private, commercial and public sector customers that best suit your own requirements and budget.
Before we make any kind of recommendation we take time in qualifying your needs and using a number of the top finance programmes available in today's market. We ensure all our customers benefit from a funding solution that best suits their specific requirements.
In broad terms finance products can be categorised into those where ownership passes to the customer (hire purchase and finance lease) and those where ownership does not pass (operating lease and contract hire).
Aspects of each finance option are detailed below. For further information please click on the links on the right hand side of the page
| Hire Purchase | Finance Lease | Operating Lease | Contract Hire | |
|---|---|---|---|---|
| Costs/Payments | Machine only | Machine only | Machine only | All inclusive |
| Up front deposit required | Yes | Yes | No | No |
| Fixed monthly payments | Yes | Yes | Yes | Yes |
| Maintenance Costs | Excluded | Excluded | Excluded | Included |
| Additional costs likely | Yes | Yes | Yes | No ** |
| Reduce payments via balloon | Optional | Optional | No | No |
| Flexibility to swap equipment | No | No | No | Optional |
| Seasonal payment profile | No | No | Optional | Optional |
| Suits frequent replacement | No | No | Yes | Yes |
| Asset ownership | Yes | Yes | No | No |
| Can hand back at end of term | Optional | Optional | Yes | Yes |
| Servicing and Back-up Support | Optional | Optional | Optional | Included |
| In season servicing included | No * | No * | No * | Yes |
| Winter servicing included | No * | No * | No * | Yes |
| Breakdowns included | No * | No * | No * | Yes |
| Accident damages included | No * | No * | No * | Optional |
| Back-up machinery included | No * | No * | No * | Yes |
| Accounting treatment | More complex | More complex | Simple | Simple |
| Interest charged to profit & loss | Yes | Yes | No | No |
| Claim capital allowances | Yes | Yes | No | No |
| Total charged to profit & loss | No | No | Yes | Yes |
| Asset shows on balance sheet | Yes | Yes | No | No |
| Finance liability on balance sheet | Yes | Yes | No | No |
| * Can be included as part of a bolt on service plan. ** Accident damage typically the only additional charge that can be incurred. |
||||
For further details please contact us on 0800 432 0440 or via email
