Asset Finance calculator
Since 1989, our previous company ‘Wyse Leasing’ and our new business ‘WestWon’, must have undertaken circa 100,000 lease quotes.
So how do we do this?
Internally, we have our own asset finance calculator. We simply put in the term of the lease, the interest rate, the profile (i.e. 1 month followed by 35 or 3 months followed by 33) and the capital cost. We press calculate and there we have the rental price. This number is then presented to you and hopefully, you decide to go ahead with us to lease the asset you are buying.
Having an online UK asset finance calculator is something that most lease companies do not have. There are sensible commercial reasons why. Leasing a £20,000 car will normally be cheaper than leasing £20,000 of software. A £100,000 asset finance deal will normally attract a lower interest rate than a £20,000 finance value. Good credit companies will on average pay a lower interest rate to that of higher risk / new start company. Building the algorithm around these different criteria can be complex, sometimes it’s easier just to not have an asset finance calculator.
We have developed our own free to use lease quote calculator. It’s very simple to use and within seconds you can calculate the lease cost for your equipment.
Will the lease quote calculator give us a true and accurate figure of what we will be paying?
This is a popular question we were asked when developing our asset finance calculator. We will always state, the rental figure is just a guideline subject to credit. We are hoping that in 50% plus occasions, our asset finance calculator will be what you pay should you go ahead with us. If not, we will provide you with an explanation why the final figures are lower.
Another point people have made is that sometimes our lease calculator gives figures higher than other companies.
We do not normally lose business because we are too expensive. However, often a quick and simple lease quote via an online lease calculator will not take into account other factors. For example, you may have a quote on £10,000.00 of computer equipment but ultimately are buying £100,000 of IT kit. We are reviewing information in the public domain, but your management accounts may enable us to get a cheaper lease rate.
So please use the asset finance calculator to give you a general guideline to lease costs and drop us an email on: email@example.com or call us on: 01494 422 967 for more information.