Our Underwriting team have approved your application for finance.
A deal is ‘activated’ once Shire Leasing have paid the supplier of the equipment in the finance agreement.
This is the value of the equipment the supplier is providing to the lessee.
End of Lease (EOL)
End of Lease is our internal department that will discuss your options as the agreement comes towards an end.
Equipment / Kit
Your chosen equipment/kit/asset that you want us to finance.
Lessee / Customer
A business (whether it be sole trader, company or organisation) that is looking to lease equipment.
Lessor / Funder
An organisation that provides the finance to the lessee, such as Shire Leasing.
This is our portfolio and facility of own funds, which is currently over £90m.
This is how many payments are required for the term of the lease. For example, a 5 year lease on a quarterly basis would show as a 1 + 19 because there are 4 quarters per year.
Document detailing information about the deal, required for credit clearance.
Tailored to your needs, quotations(or quotes) provide you with an estimate of what your rentals and costs could be. These are subject to terms and conditions.
Business use customers that have the protection of the Consumer Credit Act (Shire is Authorised by the FCA to transact Regulated Business).
These are the payments made by the lessee in line with their lease or finance agreement. These are most often paid quarterly or monthly.
This is where the lessee wants to end the lease earlier than the term set in the agreement. This usually involves a settlement cost/fee. Get in touch with End of Lease to find out more.
A business that supplies equipment to the lessee.
The term describes how many months the lease agreement lasts for. For example, a 3 year lease would have a 36 month term.
With many of our finance solutions, the lessee has the opportunity to upgrade at any time, allowing the business to acquire newer equipment.