IT Equipment Leasing

[Scan099]

Hi all

 

Do any of your schools lease the desktops / laptops? if so who do you use?

[NetworkBoss]

Yes, through the Everything ICT framework. We used 2 different leasing companies so far, Room12 and Freedom Tech.

[Ratcliffepg]

Dell.... in simple terms an interest free loan, same as cash price

[DGardiner]

Dell.... in simple terms an interest free loan, same as cash price

 

cant sweat the asset though, realistically laptops dont die after 3 years anymore.

 

and if you do extend the lease youre paying more than face value

[PotNoodleTech]

Nope got rid of leasing back in the RM days (the days of being stuck for 5 years not being able to change anything and not being able to react year by year are long gone).

[sigma]

Having worked for a vendor, however it's packaged to you, somewhere there is the "cost of money", sales commission (on finance part of a leasing deal), as well as the cost of the kit which you will be paying for. This maybe back loaded based of the projected resale value of devices at the end of the lease, or spread into the leasing payments.

 

If you haven't done so, do draw up a full lifetime cost of ownership spreadsheet to compare - purchase, lease and refurb for 3 and 5 years when you know all the numbers, and see where that leaves you.

 

Having said that, leasing can be useful for accounting reasons, but in my experience, it is rarely cheaper. I have seen exceptions though.

[synaesthesia]

Anyone ever dealt with Funding4Education for leasing?

We've just found out we've a couple of leasing agreements with them and the costs are... I can't say how bad without swearing. XXXXing diabolical. I.e. could have bought outright twice for the same cost as a year's lease.

[DGardiner]

Anyone ever dealt with Funding4Education for leasing?

We've just found out we've a couple of leasing agreements with them and the costs are... I can't say how bad without swearing. XXXXing diabolical. I.e. could have bought outright twice for the same cost as a year's lease.

 

last i checked schools cant sign leases like this? cant remember off the top of my head but you can only sign the operating lease (i think it is) where you pay the value of the items then return (or buy out).

 

from the dfe:

 

There are 2 different types of lease – operating leases and finance leases – but schools should generally only enter into operating leases, as the use of finance leases require the Secretary of State's approval. Operating lease agreements typically have a shorter duration than the working life of the equipment

[PotNoodleTech]

Anyone ever dealt with Funding4Education for leasing?

We've just found out we've a couple of leasing agreements with them and the costs are... I can't say how bad without swearing. XXXXing diabolical. I.e. could have bought outright twice for the same cost as a year's lease.

 

Probably got screwed over by some salesman types. Some schools don't have anyone with the knowledge to say "no this is a rip off"

 

Once your in the lease there's no getting out other than buying the lease out.