Leasing
Fleet Commercial Gymnasiums offers you short term hire or easy long term leasing solutions for much of our high quality commercial or corporate equipment range. Leasing enables you to provide your customers new, high quality equipment at a fixed monthly cost with no surprise repair bills.
There are many benefits of leasing over the outright purchasing of equipment, some of which are as follows:
- Conserves your cash and working capital for use in areas of highest profitability
- Preserves credit lines and borrowing capacity
- The monthly lease is a tax deductible expense
- Fixed monthly cost with no hidden costs or fees
- Your equipment can be updated regularly to keep it current and up to date
- Service and maintenance programs can be included in your fixed monthly cost
- Flexible programs to mirror the life of the equipment
- Purchase options at the end of the lease term
- No expensive unexpected repair bills
The wold leading Matrix Strength and Cardio range can be inspected by appointment at our Balcatta commercial show room, or at any one of the many gymnasiums where we have installed equipment in the Perth Metropolitan area.
All your equipment can be leased including regular service packages to keep it in perfect working order. Leasing customers have access to excellent mobile service technicians to ensure your equipment is well maintained. Repairs are carried out quickly and efficiently.
Fleet Commercial Gymnasiums can provide onsite visits, consultation, and advice on a range of tailored finance and equipment options to keep your members, or staff fit and happy.
Question and Answer return to top
What is a lease? In general terms, a lease means that you pay a fixed monthly cost for new, well maintained strength or cardio equipment for a pre determined period of time. At the end of the lease you can exchange the equipment for new, purchase the equipment you have at the residual value, or keep leasing it on a month by month basis. We will supply, repair and look after the equipment so you have more time to look after your customers.
What are the benefits of leasing rather than buying? There a number of benefits to leasing over purchasing outright, some of them are listed above. In many cases we are able to lease high quality equipment where it may be difficult to arrange finance. The monthly cost of a lease is a tax deduction. We recommend you talk to your accountant if you are uncertain about how your monthly lease payments would be treated.
What term can you lease the equipment over? The term of the lease is up to you, but typically a lease term is between 3 and 5 years. It is worth bearing in mind that the monthly lease cost is significantly reduced over a longer term.
Is the equipment brand new? What equipment you decide to lease is completely up to you. usually the equipment provided for leasing will be brand new. However, we often have high quality, near new equipment that may be leased at a reduced rate - the choice is yours. We are happy to assist you in recommending equipment that would best suited to the needs of your facility.
What if something goes wrong with the equipment on lease? Equipment leased from Fleet Commercial will be covered by a service agreement which sets out your responsibilities, and ours. In general terms, we will repair any breakdown or faults that occurs during normal use of the equipment. You will be responsible for any damage that occurs to the equipment, and normal wear items such as mats and drive belts. In some circumstances we are able to include the cost of wear items in the service agreement and incorporate it into the fixed monthly lease cost. Naturally anything that is covered by the manufacturers warranty will be repaired in accordance with the normal warranty terms.
How do I pay the lease? The lease is paid monthly in advance, with the first month being due on or prior to delivery of the equipment. Then the lease cost will be invoiced each month so you have a record for tax purposes), you will receive the invoice in the mail prior to the due date. Most customers pay by Electronic Funds Transfer but how you pay is up to you.
Is there a bond or deposit? No, there is no bond or deposit other than the first months lease payment in advance.
What equipment can I lease? All the equipment we stock is available for lease subject to approval. See the product links on this website.
Is there a delivery and installation cost? It depends on the difficulty of the installation, and the time taken to do it. A difficult installation that requires equipment to be delivered upstairs and assembled on site will incur a installation cost. A consultant will visit your facility to assess it. Installations in the country will naturally incur a delivery and installation cost.
Is it possible to terminate the lease prior to the end of the agreed end date? Generally not, if you lease equipment you agree to the term set out in schedule of the lease.
What if I sell my business prior to the expiry of the lease? If your business is sold prior to the expiry of the lease, it is important that the new owner agrees to have the balance of the lease consigned to him or her. If you sell your business without having the lease assigned, you will remain responsible for the balance of the lease payments.
What happens at the end of the lease period? It’s really up to you. At the end of the lease term you can either; return the equipment and end the lease, keep leasing the same equipment on a month by month basis, exchange the equipment for new and start a new agreement, or purchase the equipment outright at ir's residual value. Most commonly customers will return the cardio equipment and have it replaced with new, and purchase strength equipment outright.
Can I own the equipment at the end of the lease term? The terms of a lease means you do not own the equipment at the end of the lease term, but you do have the first option on the outright purchase at the end of the lease term. We will tell you up front what the value of the equipment will be at the end of the lease term. If you would rather finance the equipment for a purchase we can help organise competitive rates so you own the equipment outright at the end of the finance term.
Will Fleet Commercial deliver and Install the equipment? Yes, we will deliver and install your equipment if it is in the metro area (within an 80km radius of Perth). There may be a delivery and installation charge if access makes the installation difficult (such as up stairs) install or it needs to be assembled on site.
Does the leased equipment get serviced and does it cost extra? We will organise a regular service schedule for leased equipment in the metro area, based on your specific needs and the amount of use the equipment receives. The service schedule will be agreed on and the cost included in the monthly lease cost. There is no additional cost.
Can you lease equipment if we are in the country or at a remote mine site? Yes, we are happy to lease equipment to the country or to remote mine sites. A number of our existing customers are mine sites. You will be responsible for the cost of transport to get the equipment to site, and also for returning it to us at the end of the lease period.
What if we are at a remote site and not able to assemble the equipment ourselves? We can either pre assemble the equipment and pack it on to pallets assembled, or have one of our trained service technicians go to your site to assemble the equipment. We are happy to quote the cost of sending a Tech to site depending on flights and time required.
Can you get equipment serviced at a mine site? Yes. We can send a tech to your mine site on either an as required basis, or as a regular scheduled service call. The cost can either be billed separately or incorporated into the monthly lease cost. We will quote it on a case by case basis.
How long will it take to have the equipment delivered and installed? It depends on the equipment. Much of the equipment we carry is in stock in WA, but some items may need to come from the eastern states
Is the equipment insured? While we have the appropriate insurances, it is a condition of the lease that the equipment be included in your own contents insurance. We recommend you notify your insurance company of the equipment you have from us, and they will advise you of any additional insurance costs. That way you are protected should any of the equipment be damaged, stolen or destroyed.
What happens if the leased equipment is damaged? You are responsible for any damage that occurs to equipment outside of normal wear. In most cases we will carry out the required repairs and invoice you for it. In most cases where damege to equipment occurs that is outside of your control, you are able to make a claim under your insurace policy.
What details do you require for the credit application? The credit application requires basic financial information including your name, contact details, the name of your business, your business and residential address, along with three credit referees and banking details. It also includes an authority to include a check on your credit history. If we require any additional information we will let you know. It is important that the credit application be as accurate and current as possible as incorrect or misleading information may count against your ability to have finance approved.
