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Why Long-Term Rental? 8 Benefits

10th May '19

The famous oil baron Paul Getty said, “If it appreciates, buy it. If it depreciates, lease it.”.  Wise words to live by in the modern age.

According to Reuters.com, in 2017 82.6% of new cars sales were purchased on a rental basis, with the majority using a PCP (Personal Contract Plan) to do so.  We're all familiar with the benefits of this model, we get a new car, enjoy it for 3 years, all servicing is taken care of and then at the end of the contract term we swap it for a new model. 

Long-Term Rental

Long-Term Rental offers the same flexibility we enjoy with car rentals: new equipment, a fixed monthly cost and maintenance included.

Refrigeration is business critical but it's also a high cost, depreciating asset with vital, costly maintenance programmes.

Retailers are swapping to Lowe's fully managed Long-Term Rental contracts as allow for the opportunity to focus on the core business offering with the combined peace of mind that all maintenance is taken care of by the experts at Lowe.

8 Benefits of Long-Term Rental:

  • Avoid large upfront capital expenditure
  • Avail of the new IFRS16 (Jan 2019) accounting code
  • Have better control over cash flow, due to fixed payments
  • Place new refrigeration technologies in store at the start of every contract
  • Boost flexibility around their assets in store
  • Reduce the time spent on fleet management, i.e. logistics, maintenance etc
  • Reduce running costs due to the energy efficiencies that come with new equipment
  • Reduce GWP & carbon footprint

Long-Term Rental is forcing the retail market to re-think their approach to refrigeration sourcing through how it takes away the hassle and risk associated with managing a fleet of refrigeration.

How the Long-Term Rental process works:

  1. Discovery

A member of the Lowe retail team will run a discovery phase uncovering all aspects of your requirements.

  1. Sourcing

Lowe’s technical experts will then engage and source solutions from a large pool of manufacturers.

  1. Rental Plan

Lowe's retail department will shape up a rental plan in both length and terms that supports your goals.

  1. Implementation

The Operation and Installation teams now take over, rolling out and maintaining your rental equipment.

  1. Renewal

At the end of the plan Lowe's Operations team return, remove your old equipment and replace it with newly sourced equipment.

Interested in how these benefits could be applied to your business? Read more on Long-Term Rental or contact a member of the team.

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