Vpod Leasing FAQs
Re-engineering your visitor management
Vpod combine people and technology to create unique tech solutions in digital visitor management. Now, more than ever, we understand the need for re-engineering visitor management processes to help our customers navigate through the COVID-19 pandemic, and to help their employees return to the office safely.
Save money on day 1
We are proud to offer our customers a finance provision through one of the UK’s largest independent business finance houses, Propel Finance, to help your visitors and employees return to the office safely.
Are there any additional fees?
Yes, there is a one-off admin service fee of £150 to be paid at the beginning of the agreement - this is an administration set up fee.
Is there an Annual Service Fee?
There is an annual service fee of £40 which provides full access to Propel’s customer services that include VAT schedules and account and insurance management.
Do you need insurance to cover the Vgreet(s)?
Your Vgreet(s) should be added to your building contents insurance schedule. Proof of insurance against fire, theft and other liabilities will be required within 30 days of the start of the lease.
What happens at the end of the term?
At the end of the finance agreement your rental is finished, and you can choose to extend that rental or finish the contract. You will be contact 90 days prior to arrange your end of initial rental options and select your preference.
Who are Propel?
Propel was established in 1996 to provide flexible and accessible finance to SMEs across the country. Now, more than 20 years on, Propel has grown to become one of the UK’s largest independent finance houses, helping more than 40,000 businesses to access finance to purchase business critical equipment and vehicles quickly and easily. Propel aim to take the services they offer to the next level, to push the boundaries of what’s available and to create great customer experiences consistent with their values. In these challenging times, it is crucial to work with finance partners you can trust to help you drive your business forward. Propel is one of the largest independent finance houses in the UK with a 20-year track record in supporting over 40,000 Business Customers with the asset finance they need to obtain vital equipment and vehicles to power their productivity and performance.
Is there a cooling-off period?
No, this is a rental agreement.
What term periods do Vpod offer?
Terms from 3,4 or 5 years are available.
What is the approval process?
The approval process is simple you will be assessed for credit approval which is necessary under FCA regulations. Once approved you will be asked for signatory sign off so the lease agreement paperwork can be sent to the correct signatory.
When is the 1st payment taken?
The first payment is taken after two things have happened, firstly you have signed off that the equipment is live and functioning as per the statement of works.
Secondly, the norm is that the first payment is taken within 4 days and on each monthly anniversary thereafter.
What is the difference between Hire Purchase and Rental?
There are two distinct differences - with Hire Purchase you pay a deposit of at least the value of the VAT and you are purchasing the item so you retain ownership.
With a rental or lease there is no deposit, so savings are realised day 1 and the item ownership is retained by the finance company.
Can I rent the equipment after the initial term?
It is common for customers to request that they extend the rental which is something you agree with Vpod 90 days prior to the end of the initial term.
Vpod is completely independent to Propel Finance and is not acting as our agent. Propel Finance cannot accept any responsibility for any loss or damage of whatever nature which may arise as a result of information provided by Vpod or your use of that information. Figures quoted are subject to status and agreement. Other amounts and terms are available. Rates may vary. Finance subject to status. Business customers only. Propel Finance Group consists of Propel Finance Plc (Reg. in England and Wales 04015132). Terms and conditions apply.