Friday 11 February 2011

New finance scheme opens door to new technology

A new ‘Rent To Own’ (RTO) scheme from instrumentation specialist Ashtead Technology is helping companies obtain access to the latest technologies by spreading out the cost and reducing pressure on cash flow whilst maintaining traditional rental benefits such as repair, calibration and technical support.

The initiative sidesteps capital expenditure restrictions to give customers immediate access to the most up-to-date inspection, test and monitoring equipment – with the flexibility and freedom to either buy at the end of the 12 months rental period with a one-off purchase payment or to simply return the equipment with no additional penalties.

The RTO scheme helped one Milton Keynes (GB) company, aircraft services specialist Helimech, make considerable savings on an Olympus Iplex LX videoprobe that is used for advanced gas turbine engine inspections. Engineering manager Paul Smith explains: “Previously it was necessary to regularly outsource a specialist to visit us with a videoprobe, but this was becoming increasingly costly.

“As demand for this type of investigation grew, we decided to try Ashtead Technology’s RTO scheme because it provided us with the latest technology combined with back-up support from one of the company’s remote visual inspection specialists.

“We could not justify the upfront cost of purchase, so the RTO option offered a more financially attractive alternative and as a result we now have the technology and capability in-house. I would thoroughly recommend the scheme to other small or medium sized companies.”

A number of Ashtead products are available under the RTO scheme including XRF metals analysers, thermal cameras and a vast range of the latest vidoeprobe inspection equipment.

Ashtead’s General Manager Alan Hasson said: “RTO is just one of the ways in which we help to put the right technology in the hands of those that need it. Because the monthly costs are less than a typical rental and with the overall outlay spread over 12 months, the RTO scheme is ideal for companies wanting access to the very latest instrumentation without a large one-off payment.”

“RTO provides a lower cost solution for those with a frequent rental requirement, but does provide outright ownership if desired and allows customers to release valuable capital for other purposes.”

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