The Department for Education states that compliant operating leases bring the following benefits
• The school doesn’t have to pay the full cost of the asset upfront, so you don’t need to use up other much-needed funds
• Leasing may mean you have access to a higher standard of equipment, which might be too expensive for you to buy otherwise
• The asset is effectively paid for over the fixed period of time that you use it, which helps you budget for the future
• As monthly rental costs are usually fixed, it can be easier to forecast cashflow
Examples for reference
Minimum capex value is £3,000 +vat with no upper limits. Payments can be in advance or arrears and can also be deferred for one or more months.
End of term options
• RETURN – The equipment can be returned penalty free.
• RETAIN – The equipment can be kept in-situ for either a new fixed period of time or on a payment by payment basis.
• REFRESH – The equipment can be replaced with new technology.
• COMBINE – A combination of the above.
Peace of mind
The tech2teach programme is provided by Room Twelve Ltd who are not only specialists in compliant education funding solutions but are also public sector approved by Crescent Purchasing Consortium and the Department for Education.