Medifinance can offer a range of products to enable you to purchase new equipment. Using finance to make your purchase is a sensible way to manage your cashflow, as well as allowing you to reap the benefits of having the latest equipment in your practice. We will deal directly with your preferred supplier once your approval is in place, and with very competitive fixed rates and terms of up to seven years, it makes sound financial sense.
Hire Purchase suits equipment with a longer term life and where the practitioner desires ultimate ownership. Generous tax allowances are available, currently up to 130% Capital Allowance in the first year for practices that operate as Limited Companies. For sole traders and partnerships this is 100& coupled with relief on all interest paid during the term of the agreement. This is an attractive finance option for well-established practices.
For high-tech equipment that may need updating or replacing on a regular basis, a lease agreement may be best option. With tax allowances available over the whole term of lease, your practice can benefit from regular tax relief, however often the equipment needs updating. Based on our experience this is often the best option for new start-up practices.