A surge in Operational Leases in the education sector is fueling demand along with standard ‘sales aid leasing’ based on high acceptance rates, quick decisions and minimal paperwork.
Nimans is now authorised and regulated by the Financial Conduct Authority and resellers working in the education sector are taking advantage of the company’s expertise and broad reach of specialist services, says Tom Maxwell, Head of Dealer Sales.
“Funding for local authority schools has changed following instructions from the Department For Education where they must now include an operating lease. This is where the end user only pays back 90% of the value of the lease in their rentals - so someone has to take a residual value risk, which makes the lease cheaper.”
He added: “Some funders are very nervous about supporting schools and interpreting the rules of the operating lease. But thanks to the strength and credibility of Nimans we are ideally placed to help them and there’s been a tremendous upsurge in business. We’ve got various funders in place and are getting lots of proposals from resellers who can’t get finding from their normal channels. So much so we are enjoying our busiest time of the year so far.”
Nimans can now lease on software-based technologies as well as hardware – on big and small items including headsets – from £1,000 upwards, as Tom emphasised:
“For us, we are very competitive; have a really great acceptance rate and take away the pain and alleviate all the hard work for resellers. They don’t need someone in their office spending time going from funder to funder and filling in paperwork for example.
“Nimans offers a dedicated leasing service because we have our own leasing operation within our business. It’s not a broker acting on our behalf. This gives us greater control and a more individual client service.
“Sales aid leasing is fast becoming a major factor in any successful sales strategy. Adding a lease option with a reputable finance partner to a product can significantly enhance sales and overcome customer’s budget restrictions. It’s not about selling finance it’s a way to win more business.”