Buying outright
Buying outright means the machine’s full cost leaves your business at the start, and every clean after that contributes its margin to paying it back. The question to ask is how many months of normal work it takes to recover the price, and whether your cash can carry that period comfortably.
Where a machine’s current price is confirmed, its page links to the MET shop with the VAT basis shown. Otherwise, ask for a quote, which sets out the price and what’s included.
Spreading the cost
Many businesses pay for workshop equipment over time, through hire purchase or leasing from a finance company. Instead of recovering a large outlay, the test becomes simpler: does the margin from a normal month comfortably cover the monthly payment, with something left over?
Spreading the cost keeps cash in the business, but the total paid is usually higher than the cash price, and the agreement runs whether or not demand builds as planned. Weigh both before you choose.
Our finance partner is Kennet Leasing. MET introduces customers to Kennet Leasing, which arranges and provides the finance and sets its own terms, so we don’t show rates, payments or examples on this site.
- Finance partner
- Kennet Leasing
- How finance is arranged
- MET introduces customers to Kennet Leasing, which arranges and provides the finance.
Asking for a finance quote
Ask us for a quote and tell us you’d like to spread the cost. Once we’ve agreed the machine and what your order includes, we introduce you to Kennet Leasing, who talk to you directly about the agreement and send you their own quote.
Any decision on finance is Kennet Leasing’s, made on their own checks. Compare their quote with buying outright using the questions below.
Questions to ask a finance provider
Whoever you use, get the answers in writing and compare them on the total cost, not only the monthly figure.
- What is the total amount payable over the agreement, compared with the cash price?
- Is it hire purchase, a lease or a loan, and who owns the machine during and at the end?
- Is there a deposit, and are there any fees at the start or the end?
- Can you settle early, and what would that cost?
- How is VAT on the machine handled under this type of agreement?
- Can installation, training and adaptors be included, or are they paid separately?
- What happens if your business circumstances change during the agreement?
Your accountant can tell you how each option affects tax and capital allowances for your business.
Checking it pays its way
In the profit calculator, choose Pay monthly and enter the payment from your own finance quote to see what’s left each month at your price and job numbers. Choose Buy outright and enter the machine cost to see how long payback takes on the same figures.
Ask about paying for a machine
Tell us the machine and how you’d like to pay. If it’s finance, we’ll introduce you to Kennet Leasing.