Define what the practice is acquiring
List the device, accessories, installation, software and training in the supplier proposal. Ask which costs are recurring and which are included in the initial price. Finance providers may treat physical equipment and services differently.
Check the requirements to install and operate the equipment. A delivery date is not necessarily the date it can begin generating revenue.
Build the business case around realistic use
Estimate utilisation, appointment capacity and the ongoing cost of consumables, staffing and servicing. Allow for ramp-up time rather than assuming the equipment is fully booked from the first month.
Consider whether the machine is likely to be replaced before the finance ends. Early payout terms, software support and the availability of parts can affect the longer-term decision.
Discuss the ownership and maintenance structure
- Who owns the equipment during the agreement?
- Are service contracts bundled or separate?
- What happens during breakdown or repair?
- Are upgrades available and at what cost?
- Is there a final purchase or residual obligation?
What to prepare
- Itemised quote and support agreement
- Installation and training timetable
- Practice financials and usage forecast
- Recurring software and consumable costs
Common questions
Does equipment finance also cover an entire practice fit-out?
Not automatically. Building works, fixtures and movable equipment may need to be considered separately.
Can a new practice explore equipment finance?
A proposal can be explored, but the lender’s assessment may require additional evidence or contribution. No outcome is guaranteed.
General information only. Product terms and availability vary. Check the actual proposal and obtain advice appropriate to your circumstances.