Q: Is there a cost to your service?

Buckingham Leasing acts as a credit broker and not a lender. We may receive payment from the finance provider if you enter into an agreement, and the nature and amount of that payment is disclosed on request at any point before you sign. Where a case is unusually complex we will occasionally agree a fee with you in advance. That is the exception, it is never a surprise, and it is always confirmed in writing before we start.

Question 1

I have never used a finance broker before. Is it more hassle?

Accepted Answer

Less, in our experience. You complete one application and one conversation with us. We then approach the funders on your behalf, rather than you filling in separate forms for your bank, the dealer's finance arm and anyone else you might have approached.

We handle the paperwork, the funder's questions and the chase-up, and we come back to you with the options set out plainly. You keep the decision; we do the legwork.

It also protects your credit file. Rather than several lenders searching you in a short space of time, we place the proposal with the funders most likely to say yes to that particular asset and business.

Question 2

What types of assets can be funded?

Accepted Answer

Broadly, anything identifiable, durable and used for business purposes. In practice that means: tractors; combines and harvesters; balers, mowers and forage equipment; telehandlers and loaders; ATVs, side-by-sides and utility vehicles; grain handling, storage and drying plant; livestock housing, feeding and handling equipment; milking parlours and robotic milking systems; irrigation and water management; groundscare machinery including greens mowers, fairway units, sprayers and top dressers; construction plant such as excavators, dumpers and rollers; commercial vehicles, vans and trailers; solar arrays, battery storage and other renewables; and IT, software and telematics. If an asset is unusual we will say so early. Specialist or bespoke equipment can usually be funded, though the funder panel narrows and the structure may differ.

Question 3

Is there a cost to your service?

Accepted Answer

Buckingham Leasing acts as a credit broker and not a lender and may receive payment from the finance provider if you enter into an agreement. This will be disclosed on request. Finance is available to business users only, subject to status and credit acceptance. Applicants must be 18 or over. United Kingdom only.

You can check our permissions on the FCA Register at www.fca.org.uk/register or by calling 0800 111 6768.

Question 4

Can you beat a quote I have already received?

Accepted Answer

Often, yes. Send us the quote and we will tell you honestly whether we can improve on it. Two things usually create the difference. First, breadth: we hold access to over 40 UK funders, including lenders who do not deal directly with the public and who price certain assets more keenly than a dealer's own scheme. Second, structure: a different deposit, term, balloon or payment profile can change the total cost of finance materially even where the headline rate looks similar. We compare like for like — total payable, fees, end-of-term position — rather than rate alone, because that is where quotes usually differ.

Question 5

How do I know I am getting the best rates?

Accepted Answer

We work on a whole-of-market basis across our funder panel rather than pushing one product or one lender. For each proposal we approach the funders that suit that asset, sector and credit profile, and we show you what came back. You will see the payment, the term, the total payable and the total cost of finance for each option, so the comparison is made on the same basis. If the best answer is the offer already on your table, we will tell you that.

Question 6

Can I get finance for both new and used equipment?

Accepted Answer

Yes. A large share of what we fund is used machinery bought from dealers, at auction or privately. As a rule of thumb, funders look at the asset's age at the end of the agreement rather than at the start. Most will work to a machine being no more than around ten to twelve years old when the term finishes, which shortens the available term on older kit. Condition, hours worked, service history and residual value all feed into the decision, and specialist machinery with a strong second-hand market is treated more generously than kit that is hard to resell.

Question 7

Do you offer flexible repayment options?

Accepted Answer

Payments can be monthly, quarterly, semi-annual, annual or a bespoke profile, over terms typically from one to seven years. Deposits can be kept to a minimum where cash flow matters more than total cost, and larger deposits or a balloon can be used to bring the payment down. Deferral options are available with some funders, for example a three-month payment holiday at the start while the asset beds in. Availability depends on the lender and the strength of the proposal, so we will confirm it as part of the offer rather than promise it up front.

Question 8

How long does approval take?

Accepted Answer

Approvals are typically within one business day once we have the information we need. Straightforward proposals on standard assets are often back the same morning. Larger facilities, land purchase and anything requiring full accounts or a valuation take longer — usually a few days rather than a few weeks. We will tell you at the outset which category your case falls into.

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