Operating Leases are attractive when owning the asset at the end of the agreement isn’t important and you’d rather benefit from lower rentals due to an amount you don’t have to pay.
Regular rentals are made on a profile and duration to match the needs of your business and intended use of the asset. Operating leases typically enjoy a low initial capital outlay and the VAT is applied to each rental when they fall due. If a qualifying asset is used for business purposes, and you are VAT registered (special rules apply), you may be able to recover some or all of the VAT applied to the lease rentals.
When goods are returned to JCB Finance return conditions apply.
The availability and value of tax relief will depend on your individual circumstances; you can, without obligation, request a copy of the contract terms for details of how the facility you are considering would be treated for your business, so that you can discuss this with your accountant or tax advisor.
Goods may be repossessed if you do not keep up with rental payments.
JCB Finance provide Operating Lease agreements regulated by the Consumer Credit Act (1974) to Sole Traders or Partnerships of 3 or fewer, where the total amount payable is under £25,000.
How to apply
Call us on 0800 150650 and speak to one of our Relationship Managers. Open Monday to Friday 8.30am to 4.45pm, excluding Bank Holidays. See How to apply for finance for more details.
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Disclaimer
Finance provided and subject to acceptance by JCB Finance Ltd (Registered in England No.972265 Registered Office: The Mill, Rocester, Staffordshire, ST14 5JW) who are registered with the Financial Conduct Authority as a lender. UK business users only. Terms apply. Subject to your consent, JCB Finance Ltd will pay a commission to the UK JCB dealer network which is a flat fee plus basic rate tax and employer National Insurance contributions for each JCB machine on the finance agreement. These payments are not additional fees that you will have to pay and is not added to the amount you pay under your finance agreement. Other products are available see JCB Finance Finance Options Explained
FAQs
Can I make changes once the agreement has started?
Some changes are possible e.g. changing monthly payment date. Fees and/or additional interest charges may apply if you wish to make a change after the agreement has started.
Can I end early?
Leases are for a period of hire as stated on your agreement, but you can end the agreement early giving 7 days written notice and paying all remaining rentals and costs due in accordance with the terms and conditions of the agreement.
You can request a calculation at any point during the agreement which will show you how much you would need to pay if you wanted to end the agreement early. If you wish to end your agreement early you can request a quote via your JCB Finance Online account or email leasing@jcb-finance.co.uk or call 01889 594147.
What are the fees?
Operating Lease has an acceptance fee, payable with the first rental collected after the agreement has started. The fee is documented from the outset.
You may face additional charges if the asset(s) does not meet the return conditions stipulated.
What if my circumstances change?
Contact the Customer Services Team on 01889 594101 or customerservices@jcb-finance.co.uk who will be happy to assist you and discuss what options are available. Open Monday to Friday, 8.30am to 4.45pm (excluding Bank Holidays).
What if I want to sell the goods?
You don’t have ownership of goods during or at the end of an Operating Lease, so you are not entitled to sell. If ownership is important to you refer to the Hire Purchase based products available from JCB Finance.
What happens at the end?
Return the goods to JCB Finance. Return conditions apply.
What does return conditions apply mean?
Before the goods are returned to JCB Finance you must take steps to ensure that everything is in good working order and condition (fair wear and tear accepted) with no accident, structural or mechanical damage. The intended use/environment of the machine is reflected in the documentation including the application and usage (hours/mileage) – exceeding this usage may result in a charge as stated on your agreement. Full details are outlined in the agreement terms and conditions so the requirements are fully disclosed from the outset.
What about insurance?
You have a duty under the agreement to insure the goods on a comprehensive basis.
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