Garage equipment finance

Starting a new garage business, or looking to upgrade your existing equipment? Buying any new piece of equipment will represent a significant investment on your part, but what if you can’t do without it.

There is another solution available that can make acquiring new equipment simple and affordable. Garage equipment finance from industry experts such as Prolease enables you to purchase what you need to meet customer demand and grow your business – but without draining your bank account.

How garage equipment finance works   

Lease finance softens the financial blow of acquiring expensive new equipment, by allowing you to pay for it gradually. This solution spreads the cost of the purchase and enables you to pay for it as the new equipment starts to generate a profit. So, if you’ve used equipment finance to purchase a new handheld diagnostic tool or an additional MOT pit that allows you to double your daily customer numbers, this will all start to bring in new revenue. This income can be put towards payment of the equipment, so that it really does pay for itself over time.

The finance arranged and agreed by specialists such as Prolease Finance is secured on the asset itself, meaning there is no risk to other parts of your business or its assets. Garage equipment tends to be financed more using lease finance because of the large number of sole traders and partnerships in this sector.

Other benefits of garage equipment finance include:

  • Keeping up with your competitors in terms of upgrading to the latest technology
  • Preserve other credit facilities – for example, overdrafts for working capital
  • Fixed payments – lease agreements are usually unaffected by changes in interest rates, unlike loans
  • Tax advantages – businesses can often enjoy tax relief on lease agreements and capital expenditure

Need different pieces of equipment?

Prolease operates in conjunction with many different leasing sources and banks. This means that multiple lines of credit for equipment lease or capital expenditure can be made available to you, without affecting any of your other banking facilities such as loans or overdrafts.

Crucially, it also means that you can acquire many different types of equipment, by making use of our extensive leasing and funding sources. Whether you’re looking to start your business from scratch or undertake a major upgrade of your whole setup, you aren’t limited to acquiring just one new piece of equipment at a time. Prolease can arrange finance for all kinds of different equipment, whatever the business type and whatever its requirements.

The importance of preserving cash flow

If you have the money in the bank, why not spend it on purchasing equipment outright? It’s important to plan ahead and consider future bills, expenses and other outgoings. If every penny is tied up in the purchase of new equipment, it could put other crucial parts of your business at risk. If you can’t pay the lease on your premises, your staff or your suppliers’ invoices, new equipment isn’t going to be much use to you.

Garage equipment finance frees businesses from having to wait to upgrade to the latest technology or expand and diversify their operations. No longer do you have to save up for new equipment, enduring a frustrating wait when you know just how useful and profitable the new addition to your setup would be. With lease finance, you can get the equipment immediately and start profiting from it – but without jeopardising any other part of your business.

Why choose Prolease Finance?

Prolease has been financing garage equipment since 1992. We have financed all types of garage equipment from diagnostic gas analysers and smoke meters in the 1990’s through to MOT and ATS lanes. 2 post lift, 4 post lifts, handheld diagnostic, crash repair equipment, four-wheel alignment, wheel balancers, tyre changers and even MOT pits have been financed.

Drawing on these decades of experience, Prolease is the ideal choice to help move your business forward. If you have a plan to upgrade your equipment and you aren’t sure of the most cost-effective way to finance it, get in touch with the Prolease team for some expert advice. Call 01432 347770 or email to discuss your requirements. We can help you preserve your precious cash flow and quickly acquire the vital equipment you need to support your business.