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Frequently asked questions
We have gathered together a list of the most frequently asked questions. If however we have not answered your question, please contact us so we can help you with your individual needs.
Siemens is one of the world’s largest multinational companies, active in 190 countries around the world, with a strong heritage in engineering and technology. Siemens Financial Services (SFS) is a cross-sector business within Siemens, employing more than 2,600 people worldwide. We are an international provider of business-to-business financial solutions. Our broad sector expertise enables us to provide integrated financial solutions. By combining financial know-how and sector expertise, we provide value for our customers to help them to increase their competitiveness.
Siemens Financial Services is a ring-fenced and independent organisation to its parent company, Siemens, licensed by the relevant banking and legislative authorities. We have developed leasing solutions to assist companies in a range of industries to acquire equipment. We finance the purchase of equipment manufactured by the Siemens Group as well as those supplied by third parties, regardless of its origin, on cost-effective financing terms.
In the UK Siemens Financial Services (SFS) has over 50 years' experience of offering tailor-made financial solutions within the equipment and technology finance market in the UK. We have delivered financing to over 250,000 customers, working with a significant number of companies in the FTSE 100 and with more than 50% of NHS trusts and local authorities. In addition, a large proportion of our advances are delivered to SME companies seeking investment for business equipment. Siemens Financial Services offers a comprehensive range of financing products at competitive rates of interest, supported by a commitment to consistently high standards of service.
We utilise the cash resources of the Siemens Group to fund our leasing portfolio which gives us greater stability during periods of ecominic uncertainty as we are able to continue accessing liquidity.
We fund a variety of assets and offer a range of financial solutions, from as little as £1000 to multi-million pound transactions. There is no upper limit to the financing we can arrange. All financial solutions are subject to terms and conditions.
Examples of transactions include:
- £1,500 - photocopier for small business
- £10,000 - vending machines at a leisure centre
- £80,000 - refrigeration upgrade for frozen and chilled storage facility
- £100,000 - biomass boiler for a charity
- £600,000 - MRI scanner upgrade for an NHS hospital
- £1.25milion - milling centre for machine tool manufacturer
- £2.6million - mobile crane for a national crane hire company
Please contact us about the specific requirements of your acquisition.
Siemens Financial Services Ltd provides finance for a wide range of equipment and technology across all channels. The examples below are not exhaustive and are there to act as a guide, please call us about your specific requirements if they are not listed:
Healthcare: Ranging from cutting-edge diagnostic imaging equipment to hospital beds, laboratory equipment or patient transportation vehicles.
Energy: Biomass, LED lighting, combined heat and power, building controls
Industry: Manufacturing equipment including machine tools, construction equipment and production line equipment incouding robots, chillers, granulators, extrusion systems, feeders and conveyors.
Transportation: Specialist transportation, including trucks, trailers, energy efficient buses and coaches.
Public Sector: From NHS equipment to traffic management systems and leisure equipment to fire safety equipment.
Business Finance Services: Office Equipment; Reprographics, vending machines & catering, IT, telecoms, fire & safety.
We use our extensive experience to tailor our financial solutions to align with the anticipated working life of the equipment, and/or its projected replacement cycle. This can vary depending on usage and environment but typically financing periods are between 3 and 7 years.
We have the full range of finance products available in the UK market including hire purchase agreements, finance and operating lease agreements, rental contracts, loan agreements and block discounting. Siemens Financial Services Ltd also offers invoice discounting to help you in lock the value of your unpaid invoices as well as Project Finance for much larger projects.
Payments can be structured to fit with budgetary requirements and expected returns from equipment investment. Monthly, quarterly, semi-annual and annual payment timings are available.
We generally work with established businesses with 3 years trading history. In certain individual cases where if a qualified professional with proven track record requests finance, we may consider a new start-up business situation. To check whether your project is suitable for funding, please contact us.
We would typically require the details of the equipment being ordered and some key financial information (please see 'What financial information will we need to provide?' below).
We try to keep requirements to a minimum. Typically, we will require your last three years of audited accounts, plus some additional information about you and the your organisation.
Once we have the required financial information and credit has been accepted, we then process the transaction and raise the required documentation. Following receipt of an equipment acceptance certificate signed by the customer, we will activate the lease and pay the supplier.If you have particular requirements for your transaction, we’ll be happy to discuss these with you and agree timescales to suit your needs.
No, your payments will not be affected by interest rate rises. Once your fixed rate agreement starts, your payments will not change. VAT is payable at whatever the prevailing rate at the time of each payment.
You do not have to be registered for VAT. We can tailor our facilities to minimise the VAT impact of acquiring the assets and, in some instances, can even fund the VAT* element as part of the agreement.
*this is likely to attract interest.
A deposit is not usually required*. Also, your first monthly or quarterly payment will normally only become due once the lease commences, which should assist with cash flow budgeting.
*In a minority of cases a deposit may form a feature of the transaction, but this is strictly on a case by case basis, please ask when you contact us.
All of our finance products are subject to terms and conditions. Any leasing quotations provided would be subject to interest rate fluctuations before lease inception. All lease facilities are subject to contract. We are a member of the Finance and Leasing Association and are authorised and regulated by the Financial Conduct Authority.
Payments are available in most major foreign currencies.
Yes you can choose your own supplier. We ask only that you establish that they are a reputable supplier and that they have the ability to service and maintain the equipment for the duration of the lease. We also check the supplier’s suitability for our purposes.
You are responsible for the service, maintenance and insurance. We require that the equipment is serviced and maintained by you in accordance with the manufacturer’s specification. Insuring the equipment is your responsibility.
Software can be included within the cost of the equipment where it forms an integral part of the equipment. Other ancillary costs such as maintenance, consumables, calls, copies and training cannot be financed.
Yes we can. We work with you to provide leasing solutions suited to the requirements of your customers, enabling a faster conclusion to your sales process and speedier payment. Please contact us for more information.
No, you can't lease your private vehicle through Siemens Financial Services as car leasing and contract hire are not services we provide.
This depends on the lease product you have selected. If you have opted for a finance lease you may return the equipment or continue to lease it from us, usually for a nominal annual rent. With an operating lease the equipment is returned or if you would prefer to keep the equipment, we negotiate an extension rental with you at that time. If you have opted for hire purchase you can either purchase the item or end the agreement and return the equipment.
If you have opted for a finance or operating lease arrangement, you will not own the equipment. (See previous question.) If you opted for a hire purchase arrangement, then you would own the equipment after completing the payment required under the 'Option to Purchase'.
Get in touch about financing
Our team is always available to answer your questions, please contact us for further information