Traditional Hire Purchase Agreement
- Established and modestly profitable bus & coach operator purchasing a used Scania K114 Van Hool Alizee for £55,000+ vat from another operator.
- Deal declined by bank due to supplier being a non-franchised dealer.
Following submission of a complete proposal by Landmark Finance, the deal was approved within 4 hours. - ‘e-docs’ were emailed to the operator and the deal was paid out within 48 hours of receiving the initial enquiry.
Refinance Agreement
- Operator with a net worth of £850k, The company was looking to develop its freehold site to provide additional maintenance facilities, they needed to raise £100k to cover building and equipment costs.
- A review and valuation of their vehicle fleet was undertaken, the equity released more than covering the required funds.
- Bank debenture waiver not required as assets are movable.
- Landmark Finance proposed the deal which was approved within 3 days of receiving the required information.
- Landmark Finance representative visited the company to have all the documentation signed and asset inspections completed.
- The funds were paid directly into the customers bank within 1 week from the initial enquiry.
- Landmark Finance was approached by an existing customer to arrange funding for a new coach required for Ski work during the winter period.
- The company wanted to offset the rentals against their P& L and they were extremely concerned about meeting payments during the quieter summer periods.
- Landmark advised the company on the advantages of a finance lease with seasonal payments, this was structured to take lower payments during the summer periods followed by higher payments during their busier period.
- The company were pleased that a solution to their problem had been solved and went on to order the new coach for delivery in time for the new Ski programme.