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richyp

  • Posts: 592
contract hire
« on: February 19, 2010, 02:09:57 pm »
best portable to contract hire, any ideas???

Simon@arenaclean

  • Posts: 1054
Re: contract hire
« Reply #1 on: February 19, 2010, 11:57:10 pm »
The question is not which machine, all suppliers will do it for you, the question really is contract hire the only option. I would not necessarily advocate this but, if you can buy it on a credit card and then shift the balance on a 0% transfer for 12/16 months (Virgin are doing one at the moment) it will cost nothing except a 3% transfer charge. Then pay it off as soon as you can. Or if you brought equipment for £2500 that would be £166 ish a month over 15 months giving you 30 days to ensure it's clear. If you're disciplined it's the cheapest form of credit there is and the only charge would be £75 transfer fee.  :)

Contract hire is ok but check the total amount you would pay back including the initial charge and the sign off charge. It's likely to be cheaper with a bank. I discussed it with HMRC and at the time 100% of capital purchases could be written down on your accounts to off set against tax, check with you accountant. With hire you will not own the machine until it is completely paid up, but with the bank the equipment is yours so if a need arises you can at least sell it. As I said all suppliers have the option available or you could do a search and find your own. Machine is your choice there are plenty out there at the moment and all have their merits, try them all out. I've got an Airflex turbo and i'm probably biased but it is a super bit of kit. In classic BBC "other machines are available" ;D

simon