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Finance
Buy Now Pay Later for the Home user
Nothing to pay for 6-9 Months! Descisions within minutes. apply now!
Tek are pleased to offer our personal customers an easy and beneficial finance option to pay for their goods. Finance is offered in association with Barclays Partner Finance Limited a major personal credit provider.
Subject to acceptance, based on normal credit checking procedures, you are able to purchase goods totalling £1500 or more on finance . A 10% deposit is necessary but no payments need be made during the first 6-9 months of the agreement.
If you pay the amount due on or before your settlement date there is no interest to pay - you simply pay the amount you agreed for your goods at the time of purchase plus a small administration fee of £29
Corporate/Company Leasing
Tek Fitness is able to offer a competitive financial solution for the purchasing of new and additional equipment.We are able to offer financial solutions for companies large or small within the fitness sector to finance new or refurbished fitness equipment. Corporate leasing is offered in partnership with Beechwood Finance.
About Leasing
Leasing provides an attractive, cash- flow friendly, tax-efficient, fixed cost way of purchasing equipment.
Advantages of Leasing
- Low outlay – a cash flow benefit, your cash can be put to better use within the business.
- The vat spread across the term of agreement – another cash flow benefit.
- Rentals are fixed for the duration of the contract.
- Immediate use of new equipment without large outlay.
- Funding not secured against Bricks and Mortar. .
- With our leases there is a low deposit typically one months payment.
With a finance lease, all the payments are 100% allowable against tax.
Simply put, if a customer trading on his own, or in a partnership, has lease payments of £100.00 per month, he will be charged £1,200.00 in a year. This can be offset against profits and so tax will be paid on a smaller figure.
A customer having profits of £10,000 then paying tax at 22% means his bill is £ 2,200. If his profits are reduced by £1,200 worth of lease payments to £ 8,800 then his tax bill falls to £ 1,936......
“The saving on his tax bill is £264 in that year, as the lease will be typically over 3- years then his tax bill may be reduced by £ 792 during the life of the lease.”
If a customer is a higher rate tax payer at 40%, then his tax relief is also available at the 40% rate hence the saving is greater
Below is a typical example for a three year lease with one months deposit:
Purchase price: £10,000
Monthly Cost: £364
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