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UK Interest Rates Are Low, So Lease Now!

11 Apr

There is so much economic uncertainty about at the moment that it’s difficult to predict anything with any degree of accuracy these days; the UK’s economy and the business world generally appear to be all over the place at the moment, to put it mildly. Yet there is one thing that economists do seem to be in agreement about, and that’s that the UK’s interest rates are currently at an all-time low and, more importantly, that they’re likely to stay that way for some time to come yet.


And what do low interest rates mean as far as North West Digital and the small to medium businesses of Manchester are concerned? They mean that now is the best possible time to lease your office equipment of course! 


The Uncertainty of Brexit


As anyone currently trying to run a Manchester business in these crazy times will be only too aware, the pushes and pulls currently being exerted on the UK economy are almost unprecedented. Depending on what side of the fence you sit on and what daily newspaper you read, the British economy is either teetering on the edge of a giant precipice, about to plummet into the unknown to certain doom, or poised at the starting line of the biggest opportunity the world has ever seen, about to soar into the economic stratosphere and regain the glory days of the British Empire. We’re either about to witness the biggest economic shift in living memory…or…nothing much will change at all!



Now, obviously, we’re not claiming to be economists and to say that we have anything more than a rudimentary grasp on the complexities of modern global economics would be a lie but, in reality, we imagine the truth of what is about to happen will (as ever) lie somewhere in the middle. Yes, there probably will be changes – yes, a few of them may even be seismic – but no, we’re probably not on the verge of economic collapse and no, the world we live in probably isn’t going to suddenly turn upside-down overnight.


Yet saying that, there’s no denying that the UK economy is currently in a very changeable condition; certainly there is presently more instability in the system than any of us remember at any other point in our lifetimes (and that’s saying something!). In particular, since the UK voted for Brexit almost a year ago, the value of the pound has gone up and down tremendously, although overall it has mainly gone down, as this chart shows;


Graph courtesy of the Financial Times.


And it’s likely that this unsteadiness will continue for some time to come yet; the triggering of Article 50 on 29th March 2017 by the British government marked the beginning of two years of negotiations on Britain’s exit from the European Union, meaning there is a long time to go yet before anyone has any definite answers on what the future holds. And without definite answers, the British economy will, essentially, remain in limbo for the foreseeable future.


Low UK Interest Rates


Now once again, we must state that we’re not economists here at NWD, so do please forgive us if we’re oversimplifying, but it’s basically in an attempt to counterbalance these insecurities in the UK economy at the moment that the Bank of England has set the UK’s interest rates at a record low of 0.25%. And when we say record low, we really do mean record low; just take a look at this chart, showing the UK’s interest rates going back as far as 1971;


Graph courtesy of Trading Economics.


There’s no denying that interest rates are now at their lowest point for several decades but, as with everything else, the question of whether or not this is a bad thing depends on which side of the fence you’re sitting on. Whilst low interest rates are bad for some people – especially those with savings who are trying to earn some money – there’s no doubt at all that low interest rates are great for others. Hence, where the savers lose out, the borrowers are on to a winner, and for anyone with credit – be it a mortgage, a personal loan or a leasing agreement – low interest rates are a positive boon.


That’s why, if you’re thinking of leasing your office equipment, there’s never been a better time to do it than now.


The Benefits of Leasing Your Office Equipment


We’ve talked about the benefits of leasing your office equipment several times before on our blog – you may find this previous post particularly useful – so we’re not going to repeat ourselves too much, but there’s no doubt that leasing can be of massive benefit to your business.



In particular, small to medium businesses get the following benefits from leasing, as opposed to buying, their office photocopiers, printers, scanners and fax machines;


  1. It makes financial sense; instead of having to find a huge amount of money upfront to purchase the costly equipment, companies can receive their equipment when they need it and pay for it in manageable monthly instalments.


  1. It makes technological sense; businesses can now get the latest technology that they need to run at full potential without having to wait for their devices to break down. Plus, thanks to our revolutionary Old for New scheme, companies can swap their out-dated tech for the latest machines at no extra cost, and keep on replacing them as and when the latest models are released.


  1. It makes maintenance manageable; no longer do companies need to worry about servicing or repairing their office stalwarts, because with leased equipment the annual servicing and routine maintenance, including all repair work, are usually included in the monthly fee. So no more having to fork out several hundred quid every time the photocopier goes on the blink.


That’s why, if you’re a Manchester based small to medium business, then leasing your printer, photocopier, scanner or fax from North West Digital is the answer you’ve been looking for. Not only will you get the best brand new equipment installed in your office in double quick time, but our highly experienced and qualified engineers will also teach you how to use it and remain on hand for whenever you need them too.



And, as we only work with companies within the Greater Manchester area, we’re never more than an hour away, so you get top notch service on top of top notch equipment, enabling you to keep your business running at top notch all the time.


Get In Touch


So if you’re a Manchester business and you’ve been thinking about leasing your office equipment then get in touch with North West Digital today and we’ll help you out. Thanks to our incredibly competitive prices, amazing deals and flexible rental options, and of course that ridiculously low interest rate, there really has never been a better time to lease your office equipment.


You’d better be quick though, because there’s no guarantee these low interest rates will stay around forever, and you’ll be kicking yourself if you miss this opportunity to potentially save your business several thousand pounds a year!


If you’d like to know more, then please get in touch with us today in any of the usual ways; you can contact us by phone on 0161 477 8950, by email at, or by submitting an enquiry form through the website and we’ll get back to you as quickly as we can!

Rachel Weinhold

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