Schools face an ongoing challenge to provide continuous improvements to learning facilities within an ever changing framework of regulation and supervision. Budgets are always stretched and allocation of the limited funding resources to satisfy these challenges increasingly requires commercial solutions to be considered.
As budgets are tightened, finding the finance to keep up with the demands of the latest technology can be difficult. Operating Leases for Schools can provide a means to spread the cost of a large investment. SchoolCare offer competitive compliant operating leases for schools.
• Preserve working capital
• Keep up to date with technology at the lowest cost
• Reduce the total cost of ownership
**Pricing in the above calculator is indicative and is included for demonstration purposes only**
An Operating lease is a funding method which allows the use of the asset on reduced rentals compared to the traditional Finance Lease.
• The finance company assesses the value of the asset(s) at the end of the agreement based on the market value and anticipated usage and then charges a rental based on the difference between the original cost and the end of term value.
• Repayments are calculated on the difference between the original cost and the expected value of the equipment at the end of the lease, which means typically the repayments are lower than for other forms of finance.
At the end of the operating lease the school has the following options;
• Return the equipment – the laptops/PCs are collected, data cleansed to government standards and the school is provided with a WEEE certificate for a minimal cost.
• Extend the lease for a further period agreed with the finance company.
• Retain the equipment for a fee. The figure is based on the fair market value at the end of the 3 years.
Or parts of the above, i.e. if the school wishes to retain some equipment and return some equipment this is possible.
SchoolCare can arrange a finance product (finance lease, hire purchase, operating lease) for any capital ICT or Suite purchase:
• IT (hardware/software/installation).
• AV Equipment
• Telephone Systems
Benefits of Funding Solutions to Schools:
• LEA compliant finance products.
• The finance agreement is fixed for its term.
• No deposit is necessary.
• First repayment is collected after the delivery of the equipment.
• Payments can be tailored to suit your schools’ budgets, i.e. monthly, quarterly or annually.
• The documents are simple and easy to understand.
• There are no hidden charges.
• Choice of supplier or manufacturer.
• Multiple suppliers on one finance document.
• Optional WEE disposal for a minimal cost (for IT hardware/telecoms).