Finance Lease For 3 Rollover Car Washes

Thank you to Sarah Freeman, Retail Sales Director at HH Business Finance for working with us on this deal.

Sarah’s customer is one of the UK’s fastest-growing forecourt operators. They have a successful model for modernising forecourts, and an experienced management team with over 30 years’ experience in the fuel and petroleum retail market arena.

This customer has dealt with Sarah for many years. They approached Sarah on this occasion as they wished to add a Rollover Car Wash to three sites. The rollover car wash would bring an additional revenue stream to these forecourts.

£215,867 Finance Lease on a 5 year term.

Finance Lease rather than Hire Purchase was used for this agreement as it was led by customer choice.

The total cost of Finance Lease rental payments are tax-deductible as a business expense against taxable profits. This means payments can be offset against taxable profits. The payments qualify for tax relief for the duration of the lease agreement and can be used to help reduce the business’s overall tax bill.

Sarah said: ‘It was not a straightforward credit for this customer. Also not everyone would fund Rollover Car Washes, due to them being fixed in their location. However, I knew Asset Advantage would consider this type of asset. I was pleased with the quick response from Asset Advantage on this proposal. They had a few stipulations, such as they would write three separate agreements for the three pieces of equipment. They also required payment upon installation, so they can inspect each asset before they payout. The customer was happy to agree to these terms, and was really happy with the fast turnaround of the deal. There was no hassle. The supplier was also pleased with how quickly and smoothly this process went.’