When you are buying new commercial laundry equipment or dishwashers, one of the big questions is how best to finance it. You can buy it outright, but there are 2 other alternatives – leasing and renting – which avoid the upfront capital outlay, and allow you to spread your costs over a period of time. At JTM Service we offer all 3 options, which one you choose is your choice depending on your specific preference.

What is Rental?

Equipment rental is where you make monthly payments without the worry of ownership. A typical rental period for commercial laundry equipment and dishwashers might be 6 to 7 years. Rental allows you to spread the costs rather than having to pay for the machine up front. It also includes installation and full breakdown cover for labour and parts for the duration of the agreement.

What is Leasing?

Equipment leasing also involves making monthly payments without having to pay up front. A typical lease agreement will be 3 to 5 years. Similar to equipment rental, it usually includes installation and full breakdown cover for labour and parts, although this is optional. The big difference is that at the end of the leasing term there is an option to take ownership of the machine.

Rental v Leasing

There are many similarities between rental and leasing, but there are also some important distinctions.

Benefits of both rental and leasing:

  • Spread the cost – help your budget go further by conserving cash up front and spreading the cost over the term of the agreement.
  • Comprehensive breakdown cover – our rental and leasing agreements includes installation, labour and parts which means you get a fast, effective response and have peace of mind that there will be no additional costs.
  • Payment predictability – agreed monthly payments mean you have the certainty of cost and it allows you to budget effectively.
  • The best equipment – both rental and leasing options are available from JTM Service, meaning the best equipment can be bought within your budget.
  • Flexibility of agreement periods – whilst lease and rental terms may differ, we offer flexibility to adjust these to meet your needs.
  • Improved return on investment – paying over time and comparing the monthly instalments against usage means it may be easier to justify any investment.
  • Installation costs – both rental and leasing have the option to incorporate the installation costs into the monthly costs or not.

Differences between rental and leasing:

  • Ownership – with a rental agreement you do not take on ownership of the machine. With leasing, you have an option at the end of the term to take ownership.
  • Commitment length – whilst the periods can be flexed with JTM Service, typical lease agreements are 3 to 5 years, and typical rental agreements are 6 to 7 years.
  • Comprehensive breakdown cover – it is included with rental, with leasing it is optional and is therefore your choice whether to include it.

Why Choose JTM Service?

We believe in being flexible to meet our customers’ needs, which is why we offer all 3 options – purchase outright, lease or rental.

Whichever option you prefer, there are many reasons to choose JTM Service. These include:

  • Comprehensive breakdown cover – we include labour and parts in both options, giving total peace of mind.
  • Flexible rental terms – some commercial laundry companies offer rental terms of 8 years, which means you are tied in for longer and have less flexibility to change your equipment in the future if you want. We agree terms more suited to each individual customer, and we find customers typically prefer 6 to 7 year terms.
  • It is your choice – we understand every customer has their own specific circumstances and requirements. We offer all options, we explain them all and we can support and advise, but ultimately it is your choice and we let you decide which is right for you.
  • The best service – We go the extra mile for our customers, whatever purchase method you choose. We are proud of our reputation for fantastic service.
  • Value for money – our leasing and rental agreements are competitively priced, with no hidden charges, and we deliver unbeatable service.

If you would like any further information, or to discuss how JTM Service can help, please contact us on 0113 257221 or info@jtmservice.co.uk