Lease v Rental – Which is better?

Do you know the difference between a lease and a rental contract? This guide may help.

LEASE COMPANY – Provision

Leasing is provided by Finance companies for funding Capital Equipment. They normally require clients of good proven credit standing who can make reliable payments over an agreed period.

The periods can vary between 2 and 6 years and once accepted the full debt must be repaid within the agreed time.

TAPSIDE RENTAL – Provision

Rentals at Tapside are approved automatically. They can be continued for as long as you wish after an initial four-month mandatory start-up period. They only require that there is always one clear month’s advance payment throughout the period of the contract. It means that as soon as the current month starts that the payment for the next month is already in place.

A rental agreement is cancelled 7 days after you stop making payments. When this happens the payment for any remaining period is not required. In case the missed payment was unintended however you will immediately receive a courtesy reminders by email and text.

The missed payment, if unintended, must then be made within 7 days. If not your account is regretfully closed, unless advance arrangements have already been made, failing which, we contact you to arrange the collection of our equipment within 3 weeks.

LEASE COMPANY – What is included

Items need to be bought individually. For instance, if you order a Coffee Machine then that is all that is included. All other components such as a grinder, coffee waste box etc., need to be ordered individually. Breakdown maintenance, other than the manufacturer’s parts warranties, are extra as well as the legally required annual boiler pressure test certification by a qualified engineer (currently around £150).

Training, installation and programming are also extras that may need to be considered.

TAPSIDE RENTAL – What is included

At Tapside everything is included that you need to produce a range of top-notch coffees. We also include training, programming and linkup to existing service connections  (water and electricity). It also includes free breakdown maintenance throughout the period of the agreement and the opportunity to take ownership of the equipment at a discounted price.

Plus all the paid rentals and even a further discount that is proportional to the ingredients purchased since the agreement started.

Finally, if you are “topping up” or starting up we include a code to use on our website for discounts on our extensive range of crockery and cutlery.

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