

A Replacement or Easy Upgrade facility allows lessees to upgrade their current equipment, being equipment subject to a current lease, without the requirement to provide the lease provider a full financial application or credit submission. Instead the lease provider takes a credit view based on the lessees previous history, their credit record, payment history and continuity or stability of business.
Pros
approved without Financials
Cons
equipment types
Businesses who have a current equipment lease and need a ‘like for like’ replacement.
Subject to type of facility selected, see Commercial Hire Purchase, Finance Lease,
Chattel Mortgage.