Stone Finance options will help you to bridge the gap between what you need and can actually afford. It means you can have tomorrow’s technology today!
Your teachers and students will be able to benefit from the latest in technology, giving them the best chance of achieving high results for both the students and school overall. Below we have answered some Frequently Asked Questions which will explain more about the options.
Click here to download a pdf and find out more.
Frequently Asked Questions
Why should I lease my ICT equipment?
Leasing is a way to pay for any capital purchase with low fixed periodic payments taken at a time to suit your budget, and also allows you to manage your budget and cash flow in a cost efficient manner. It is also a way of managing obsolescence without writing off large single sums.
Back to top
What are the benefits?
Fixed payments for the contract duration; increase the buying power of your annual budget; match the payments to the useful life of the equipment to protect against obsolescence.
Back to top
Who can benefit from a Stone Finance Education Lease?
Most schools, colleges and universities
Back to top
What is the minimum value I can place on a lease and over what term?
The minimum is £1,000 and you can generally choose a term between 12 and 36 months, typically electing to pay your lease monthly or quarterly but other payment profiles are available.
Back to top
What is the maximum order value?
There is no maximum.
Back to top
How is a Lease treated for VAT?
Leases attract VAT in the normal way.
Back to top
Will I have to pay by Direct Debit?
Like most industries you will benefit from the lowest payments if you pay by direct debit, but it may also be possible to request an invoice only arrangement.
Back to top
Will I have to put down a deposit?
No, you only make your first payment when you take delivery.
Back to top
Will I own the equipment at the end of the term?
With a standard Stone Finance Lease agreement you will be offered a number of alternatives at the end of the agreement period whereby you can retain the use of the equipment for as long as you want. However, for you to have gained the best tax advantages during the term you will not legally own it.
Back to top
What happens if the goods become obsolete or need to be upgraded?
One of the main reasons for leasing is to match the leasing term to the duration that you believe the product will have a fully productive life. You can at any point in the lease period upgrade the equipment and your payments will alter accordingly. The upgrade path is another benefit of leasing.
Back to top
What happens if I don’t keep up the payments?
Like any agreement, you are agreeing to make the payments as set out in the document, if you fail to make these payments then steps will be taken to remove the leased goods and enforce the terms of the agreement.
Back to top
Will signing a lease reduce my ability to gain credit elsewhere?
No, signing a lease through Stone Finance will leave all your present lines of credit in place, if anything it will help you gain more credit in the future.
Back to top
What is the equipment mix that can be financed?
PCs, laptops, servers, networking equipment, peripherals and audio visual products.
Back to top
What are the options at the end of the lease?
Upgrade the equipment, return the equipment or extend for a further period.
Back to top
Subject to status and satisfactory credit checks