Thinking about leasing as a means to access up-to-date equipment for your school?
The following guide has been written to help school staff, head teachers, and school managers make an informed decision on their school’s finance options, especially when it comes to replacing old IT equipment in order to keep up with increasing demand to integrate new IT equipment to lesson plans across all faculties.
We’ve also put together a slide deck to help you explain to governors and staff exactly how leasing could help your pupils, and help your school dramatically improve on your current IT equipment while keeping costs to a minimum.
Learn more about the process of leasing for schools, the options available to you as an educational establishment, and how to go about choosing the right leasing company for your requirements.
Leasing in schools: how does it work?
When you enter into a lease agreement, you are essentially paying for the use of the equipment, paying smaller amounts over a pre-agreed period of time. As part of the lease you may also be able to negotiate for maintenance costs and repair costs, as well as a payment schedule that will work with your current funding schedule.
What school equipment can you lease?
Most school equipment can be funded with a lease agreement. This doesn’t necessarily have to be new IT equipment. It can also extend to other vital school equipment, such as office equipment, catering necessities, sports equipment, minibuses, and much more. If you don’t see your requirements listed, ask an experienced school finance provider if your requirements can be met – they can give you further information as to what equipment a school leasing agreement can be used for.
Why choose school leasing?
Update equipment on a regular basis
Leasing school equipment means that your school will have the ability to regularly update equipment while helping head teachers and school managers to easily manage annual budgets. New equipment will give your students the best possible experience in the classroom, and help attract parents to send their children to your school. And with the option of replacing equipment at the end of the lease agreement with brand new equipment once again, your school will never fall behind when it comes to keeping your school equipment up to date.
Buying brand new equipment may not always be achievable, as annual budgets may not sufficiently cover the cost of expensive IT equipment, for example. With school leasing as an option to finance vital school equipment, it will help your budget go further as you pay smaller amounts over a pre-agreed period of time for the use of the equipment.
Use existing assets to your advantage
With the expertise of an outsourced leasing company also comes the advantage of support with the equipment you lease. This could be maintenance and repairs as part of your contract, or it could be that you’re offered advice on your pre-existing assets in order to obtain a valuation on them, helping you to raise more money as a deposit for your new lease rentals.
Working with an experienced school funding company also has the added benefit of ensuring that your disposal of old equipment is in accordance with current legislation and the WEEE directive. Any electrical equipment that you use as a deposit for your brand new lease rentals will be safely disposed of by the leasing company (dependent on whether this service is pre-agreed as part of your contract). More importantly, an experienced leasing company will support you to check that your school finance agreement complies with current legislation and the necessary local authority requirements.
Choosing the right leasing company
As an educational establishment, you want to ensure that you work with compliant leasing companies that offer honesty and support with your school funding options. Remember to ask about the approach they will take when it comes to your lease agreement. Will they offer an asset management tool so that you can keep on top of your on-going financial liabilities? Do they offer guaranteed compliance with current legislation? What happens at the end of the contract? Most importantly, if they aren’t completely open with you about the cost of the lease agreement, go elsewhere.
Maxxia provides schools with leasing options that reflect the specific needs of the establishment, helping schools to pay for the use of brand new equipment with the use of a structured payment plan, along with any support you may require throughout the process. Contact Maxxia for information on your school leasing options today.