The First Oak Rental Plan: Elevating Your Business Through Smart Finance Solutions
Discover the potential to revolutionise your sales strategy with the First Oak Rental Plan. As your dedicated commercial finance broker in the UK, we’re here to empower equipment suppliers to boost sales significantly by offering your customers an innovative financing solution.
Our plan is specifically designed to encourage a regular upgrade cycle, ensuring your customers always have access to the latest equipment. More than just a finance solution, it’s a comprehensive sales strategy that includes a lucrative opportunity for increasing ongoing maintenance revenue.
Cars & Mobile Phones: A Finance Success Story
Both the automotive and mobile phone industries demonstrate the power of finance to drive repeat business and maintain customer relationships. Approximately 80% of new cars are sold through Personal Contract Purchase (PCP) finance plans, encouraging buyers to upgrade to a new car every 2-3 years. These plans often include servicing packages, binding customers closer to the supplier and ensuring steady revenue from maintenance.
Similarly, most smartphone users opt for contracts that bundle calls, data, and regular handset upgrades every 2-3 years. This approach ensures they always have the latest features without unexpected costs.
These models are popular because they offer worry-free access to the latest technology, excellent service, and predictable expenses.
For business buyers, it’s a perfect way to preserve cash flow and plan expenses without surprises in a tax-efficient way.
WHY YOU SHOULD OFFER RENTAL PAYMENTS
Encourage a regular change cycle
Build a large monthly servicing revenue
Buy back used equipment at a price to suit you
Tailor individual quotes yourself
Allow your customer to pay weekly or monthly
In conjunction with major lenders, our rental program has been specifically designed to provide your customers with easy access to equipment via simple 2-4 year rental agreements which can be extended where agreed.
It offers an all-inclusive monthly or weekly rental which makes for easy budgeting and includes the use of the equipment and servicing provisions. The payment’s servicing and maintenance element is then sent to you.
An easy-to-use payment calculator is even provided to you so that you can tailor quotes with servicing charges included, without contacting us.
Once your customer gives you the go-ahead you simply enter their basic information into our website so we can obtain finance clearance for them.
Why even advertise a cash price when you can promote a regular change cycle and can build a recurring monthly revenue to support your company’s growth?
At the end of the agreement, you will get the opportunity to make a new sale and to buy back the old equipment for a minimal amount before refurbishing and selling on.
What’s not to like?
If you are selling mechanical equipment or machinery your marketing could look like this:
ABC Services have (your product) readily available on contract hire over 2-4 years.
Pay one fixed weekly or monthly payment, have no unexpected bills and no service or breakdown costs. Including full servicing, parts and breakdown cover. It is available on our full range of equipment.
- No unexpected bills
- No servicing costs
- No breakdown charges
- No parts cost
- No labour cost
- Free health & Safety check every six months
- New equipment supplied at the end of the agreement
At the end of the agreement simply return the equipment to us and replace it with the latest technology or extend the rentals for up to 12 months.
Financial Benefits :
- Preserve cash flow
- Reclaim VAT on rentals with no large up front payment
- Offset rentals against tax liability
- No final payment
- Budget for fixed costs
FUND THE GROWTH OF YOUR COMPANY
Sell more using our rental plan, from £10K to £100k. We strive to offer simple, pain-free business finance to UK companies and provide the highest levels of personal service
FAQs
Our plan enhances your sales strategy by providing customers with an accessible finance option, encouraging them to upgrade their equipment more frequently. This not only boosts your sales but also establishes a continuous revenue stream from maintenance and service packages.
We can finance a wide range of commercial equipment, including but not limited to forklift trucks, generators, golf buggies, IT equipment and much more. If you’re unsure about a specific item, please get in touch.
Absolutely. We understand the diverse needs of businesses and offer flexible terms ranging from 2 to 4 years, with options to extend. This ensures your customers can find a plan that best suits their budget and operational requirements. You can determine the length of the agreement, the servicing charge that we build in, and the amount you are prepared to buy back the equipment at the end of the agreement.
No. As this is a form of lease agreement, VAT is charges on top of the rentals, so no large upfront VAT payment to worry about.
By integrating servicing and maintenance into the finance plan, you create an additional revenue stream. Customers appreciate the hassle-free approach, knowing they’re covered for the duration of their agreement. As far as your customer is concerned they have an all-inclusive rental payment which includes everything which you agree to include.
The application process is designed to be straightforward. Just provide basic customer information through our website, and we handle the finance clearance, keeping you informed every step of the way.
Yes, customers have the flexibility to settle or upgrade their agreement at any point. Simply contact us for a settlement figure or to discuss upgrade options.
At the end of the term, customers can choose to return the equipment, extend their rental, or upgrade to newer technology. This flexibility ensures they always have access to the latest equipment your company offers. You then get to buy back the equipment at a nominal amount decided by you, potentially for refurb and resale.
Our finance solutions are designed for orders of at least £10,000, which can be a single piece of equipment or multiple items totalling this amount. We’re happy to discuss financing for higher-value orders too.
Once the agreement is live, a countersigned copy of the agreement is sent out with an annual VAT invoice. Subsequent annual VAT invoices will be sent out on the anniversary of the agreement.
You get to decide this when setting up the supplier agreement with us. The higher you set the final value, the lower the monthly rentals will be for your customers. We can help advise you on this.
We offer comprehensive support, including marketing help, finance calculators, and a dedicated account manager to assist with any queries. Our goal is to make the process as seamless as possible for both you and your customers.
Becoming a partner is straightforward. Contact us to express your interest, and we’ll guide you through the partnership setup process, ensuring you have everything you need to offer our finance plans to your customers.
Have Rental Plan Questions?
Please give our friendly team a call on 0800 066 3677 if you’d like more information on how we can help grow your business using our rental plan for your customers.
We’re open Monday – Friday, 9.00-5pm.