Garage Support Newsletter 8 UK 2021

Payment Options

“My vision was to build a team of Sales Solutions Experts who deliver the feel of an ‘in house’ Sales Solutions team, ready to support our partners with their sales objectives, both volume and margin. We’ve achieved what we set out to, now it’s time to for us to help you do more of what you do best – sell. You think what you’re getting now is good. Switch to PMD and by the time we’re done understanding your business, we’ll be an essential part of your team.” Lee Schofield, Director

PMD will truly understand your business, people, products, and services and build a service that suits you best. 98.4% of our customers would recommend PMD to a friend or colleague*.

What we offer

FCA accredited, PMD is authorised by the Financial Conduct Authority (FCA) to carry out regulated financial service activities and offer credit to consumers. National Association of Commercial Finance Brokers (NACFB), PMD is proud to belong to a growing community of finance professionals who are bound by a common duty to help fund UK business.

HIRE PURCHASE (HP) With HP, you pay an initial deposit, which will normally include the VAT. The balance and interest is paid off over the agreed period of time. You own the asset at the end of the agreement (on payment of option fee), capital allowances can be paid by you and you get tax relief on the interest accrued.

FINANCE LEASE Fixed term: With fixed term finance leasing, the leasing company will own the goods you have. These rentals are paid for over the agreed fixed term and VAT is spread across each payment at no interest cost, meaning up front deposit is much lower than HP. The leasing company will then normally claim the capital allowances and you will usually get tax relief on the rentals (if leased over its estimated useful life). Minimum term: Like fixed term, with minimum term the leasing company owns the goods you have. Rentals are paid for the minimum term but can be continued beyond, and VAT is spread across each payment at no interest cost meaning up front deposit is much lower than HP. The leasing company normally claims the capital allowances and you normally get tax relief on the rentals.

FAQ’s

Who do I contact if I have an enquiry? PMD has a dedicated team who understand the priority of the relationship with ECP. Their aim is make contact with the customer quickly and deliver solution to close a sale. What can be financed? We can fund all garage equipment which is no surprise but we can also include installation, training and groundworks.

What’s the minimum amount we can finance and over how long?

The minimum deal size we can look at is £1,000 and the longest term is 5 years. What information do I need to provide PMD? Simple… business name, contact name, phone number and full equipment spec and let us do the rest!

Contact your local branch for more information

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*Based on 126 surveys during a 12-month period between 2019-2020