Leading climate control specialist, Daikin UK is facilitating the introduction of affordable flexible and convenient finance packages for its customers via independent finance company, Shire Leasing Plc.
Daikin UK is offering its customers a range of flexible leasing options via Shire Leasing Plc - the UK’s largest privately owned independent small ticket asset finance company - helping customers manage their cashflow and spread capital costs, to support their business growth.
Speaking of the arrangement, Simon Waddington, Credit Control Manager at Daikin UK said: “The introduction of Shire Leasing is a very exciting development for Daikin UK and our customers. One of the biggest barriers to growth for companies within the HVAC industry is cash flow”.
“This finance facility reduces the stress and offers tangible benefits to both the installer and the end user. Our installers can now offer upfront and affordable finance for their customer to acquire high-quality HVAC systems. This lets their customer use valuable capital in a more effective manner within the business.
“All the lease payments are fixed which enables the end user to forecast and budget more accurately, spreading the cost of the capital investment and potentially enjoying the tax relief associated with lease payments”.
An additional benefit is that installers can offer their customers an upgrade facility on their air-conditioning equipment at the end of the agreed term. In an industry where technology is constantly evolving, this hedges against obsolescence and is hugely beneficial.
The process of obtaining finance has been made as simple and stress-free as possible. Daikin UK customers can get an immediate quote by visiting the fully automated and bespoke Shire online system. Once an application for finance is made, applicants may receive a ‘credit clear’ decision from Shire Leasing sometimes in seconds otherwise within four hours. The lease documentation can be signed electronically (e-sign) for convenience and to confirm the finance for the transaction. The finer details of the leasing arrangements can then be managed via the interactive dashboard.
Shire Leasing will send a purchase order for the equipment and installation to the installer, allowing the installer to order the equipment directly from Daikin UK. Once the installation is complete, the installer sends their invoice for Daikin’s equipment and any related labour costs to Shire Leasing who will pay that invoice in full in as little as 24 hours.
Mark Picken, the Managing Director at Shire Leasing Plc, added: “We are delighted to work alongside Daikin UK, an industry leader and forward thinking company that we respect enormously. Our bespoke point of sale systems and overall finance facility will allow Daikin UK installers to significantly improve their cash flow and grow their business.
“In turn, the provision of simple, fast, fixed rate finance facilities for their clients will make buying decisions easier. So it’s a great time to fix the rate in a finance agreement. We look forward to working closely with Daikin UK senior management and their installers in developing this facility further over the coming years.”