to Lease or not to lease

[alonebfg]

Has anyone got a explanation of leasing hardware. as far as I can tell there are 2 types finance or operating for a finance you need the approval of the Secretary of State there are loads of other rules. Has anyone had a good experience if so who with and has anyone had a bad experience and who to avoid It is not something I want to do but with the budget as it is we need to do something or the school will have nothing in the next year. ( I have taken on a run down ICT system which has not been maintained or updated properly.)I have just been told that a finance lease is wrong in schools which is why a couple of companys have been taken to court over it for selling so called operating leases when they were finance leases.

[john]

Are you in a state school? If so your Finance Directorate will tell you all about the leasing you are allowed to enter, as they are the ones that can approve the lease and sort it out. You are correct that you can only do a set type of lease in schools and its a minefield and takes weeks in most LA's to setup.

 

Syscap are the UK's biggest leasing provider to schools as far as I recall and we have some with them and they are fine for our LA so they know whats going on and they work with most big vendors, including Insight who work direct to sort it all out.

[Soulfish]

Syscap, Investec and CHG Meridian are the big three in schools, and I believe Investec and CHG Meridian have qualified within various EU procurement frameworks to cover you from that angle. I've dealt with CHG before and they were very helpful, and actually the county finance department at my last school were also very helpful with putting me in touch with the correct people at different leasing companies that they approved for schools to use

[teejay]

Be warned though, leasing companies fall into the same bracket for pester factor as printer consumables suppliers.

[john]

Be warned though, leasing companies fall into the same bracket for pester factor as printer consumables suppliers.

 

Very true! Although i think CIT and Syscap have learnt that I am not interested now

[ecoughtrey]

Hi Alonebfg

 

Schools are allowed to enter in Operating Leases but not Finance Leases. With a operating lease structure typically the finance provide will invest between 10-15% into the value of the equipment. At the end of the 3 year term you are able to refresh or take ownership of the kit for a one off fee.

 

We have written a white paper on leasing in schools if you would like me to email it to you?