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Rent XYZ machine tools by the week...
Rent XYZ machine tools by the week...

Rent XYZ machine tools by the week...

Added to MTDCNC by XYZ Machine Tools on 11 February 2014

While confidence in the manufacturing sector continues to rise there are some that remain reluctant to employ their cash reserves or take out long-term finance for new machine tools. XYZ Machine Tools has a third option available in the form of a low-cost rental scheme that provides a quick and cost-effective route to new machine tool availability.

The scheme operates in 12-month blocks with a single payment equating to 29 per cent of the machine’s purchase price being made at the beginning of the period, with nothing to pay for the following 11-months. At the end of each 12-month period the user has three options these being to return the machine to XYZ Machine Tools, buy it outright at a pre-agreed price, or extend the rental period for another year with a single payment. The subsequent rentals are based on a reducing percentage of the original machine cost and at the end of four years, which is the maximum length of the XYZ Machine Tools rental agreement the machine can be purchased for a final 20 per cent fee. During the first year the machines are covered by XYZ Machine Tools extensive warranty, and this can be extended up to a maximum of seven years, if there is no break in warranty cover. The speed of the process is also a major factor in its success as decisions can be made very quickly and the machine delivered and be in production.

There is also another scheme available with a more modest outlay where machines can be rented 'by the week' with a minimum 3 month term. This is a major advantage where a customer may be waiting for finance from local grants to be finalised. In cases such as these if the customer decides to buy the machine inside the first 12 month period, 50 per cent of the initial rental is returned to them. For small to medium-sized companies who are working in an extremely competitive environment, this ability to upgrade their machine to the latest technology can mean the difference between winning work and losing it.    
 
'We are seeing a wide variety of customers taking up this attractive offer of either short- or long- term rental of machines from manual turret mills through to CNC machining centres and lathes. Start-up and smaller customers appreciate the simplicity of the application process, which is all funded by XYZ Machine Tools, so banks are not involved. Larger businesses also benefit as the rental is much easier to gain approval for than a full capital sanction and, in accounting terms, can be used more efficiently by removing debt from the balance sheet,' says Nigel Atherton, Managing Director, XYZ Machine Tools.

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