The firm currently has three machines under the XYZ rental scheme, which operates in 12-month blocks with an initial down-payment.
Following the 12-month period the user then has three options: to return the machine; buy it outright at a pre-agreed price; or extend the rental period for another year with a further single payment, these subsequent rentals being based on a reducing percentage of the original machine cost. At the end of the fourth year the machine can be purchased outright with a final payment or, returned to XYZ Machine Tools.
The XYZ Machine Tools rental scheme is only available on its ProtoTRAK controlled machines, with Paxford Engineering having an SMX 3500 bed mill, a ProTURN SLX 355 and an XYZ 2-OP currently on the scheme.
Says Paxford Engineering partner Guy Nicholls: “The scheme works perfectly for us as we do not have to commit to a large cash outlay and, as a general subcontractor we do not work with specific market sectors, meaning we don’t know what work is coming in from one week to another, let alone from one year to the next.
“This is why the ability to end the XYZ rental agreement and bring in different machining capacity, at relatively short notice, works well for me and my business partner Ben Blackmore.”
