Photo lease

Discussion in 'Photography Forums' started by ryanyboy, Feb 4, 2009.

  1. ryanyboy

    ryanyboy
    Guest

    Products Owned:
    0
    Products Wanted:
    0
    Ratings:
    +0
    Hi all

    I've been given the opportunity to lease a camera through a company called 'Photolease.' - www.photolease.co.uk

    Just wondering if anyone has ever heard of them, and more importantly if anyone has bought a camera on a lease agreement. The main attraction is that the monthly payments are 100% tax deductable.

    Any thoughts would be greatly appreciated.
     
  2. dazza74

    dazza74
    Well-known Member

    Joined:
    Aug 24, 2006
    Messages:
    13,037
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Ratings:
    +1,394
    Looks to me to be cheaper to get a loan for what you want to buy from a bank, their APR is about double what some banks are offering currently. If what your buying is a legitimate business expense then that could be factored against any tax return.

    Difficult one I'd certainly consider something like this if I was looking to get a D3x as the option to upgrade during the lease would be tempting, I can see this camera depreciating terribly when Nikon release another 24MP camera.
     
  3. ryanyboy

    ryanyboy
    Guest

    Products Owned:
    0
    Products Wanted:
    0
    Ratings:
    +0
    Thanks mate,

    I couldn't find the APR figures anywhere on their wesite but I just used the online calculator on the site. It appears that if you borrow £2500 (The D3 price without VAT) you would pay back approx £3230. SO, yes it does seem pretty steep.

    The D3 would be used for business so I suppose what I would lose on APR would be gained on my tax returns. Although it would not be a fulltime business initially so would that affect the tax returns?

    It's a tricky one but the big advantage is not having any layout upfront (other than the initial first months payment).

    Hmmmmm......
     

Share This Page

Loading...