The Drake Group offers our clients alternatives to outright purchase of equipment through our rental trailer fleet. We have access to a wide range of new and used trailers in both the O’Phee and Drake range available upon request.
If you are requiring a mid to long term hire or are proving a ground up business or trialling a new model before purchase The Drake Group can cater for your needs.
We have a wide range of products available for hire including O’Phee, Drake and BoXLoader. On application we can also offer mid term rental agreements whilst clients are waiting on new builds. For e.g. our build time for a particular model maybe too long to wait, Drake maybe able to offer up a rental trailer for the duration getting the client out of trouble.
Common forms of off-balance sheet financing include operating leases and partnerships. Operating leases have been widely used, although accounting rules have been tightened to lessen the use. A company can rent or lease a piece of equipment and then buy the equipment at the end of the lease period for a minimal amount of money, or it can buy the equipment outright.
In both cases, a company will eventually own the equipment or building. If the company chooses an operating lease, the company records only the rental expense for the equipment and does not include the asset on the balance sheet. If the company buys the equipment or building, the company records the asset (the equipment) and the liability (the purchase price).
By using the operating lease, the company records only the rental expense, which is significantly less than the entire purchase price and results in a cleaner balance sheet. On all accounts The Drake Group can provide solutions tailored to our customers needs. Talk to your sales representative for options suitable.