A clear way through asset finance.
Theseus DAC helps Irish businesses decide how to pay for equipment, vehicles and machinery: cash, a loan, hire purchase or a lease. We then prepare the application to a licensed finance provider. The provider makes the decision.
Theseus DAC does not lend, lease or provide hire purchase, and is not a bank, a finance house or a credit intermediary for consumers. It is not authorised or regulated by the Central Bank of Ireland. We work only with businesses, preparing comparisons and applications. Finance providers decide on every application, and approval is never guaranteed. Theseus DAC is not affiliated with any other entity named Theseus.
Four ways to pay for an asset
Each option spreads the cost differently and leaves you owning, or not owning, the asset at the end.
Cash
No interest, but your working capital is tied up in the asset.
Term loan
The bank lends the price; the asset is often the security.
Hire purchase
Deposit and monthly payments; ownership passes after the last payment and an option fee.
Lease
Monthly rental for use of the asset; it goes back at the end unless agreed otherwise.
What we prepare
- The asset caseWhat it is, what it costs, what it will earn or save, and how long it lasts.
- The comparisonCash, loan, hire purchase and lease side by side, on the same assumptions.
- The applicationAccounts summary, supplier quote, bank statements and the provider's forms.
- The offer reviewRates, fees, balloon payments, insurance and end-of-term terms in plain words.
Scope and fee agreed in writing before work starts. Tax and VAT treatment differs between these options. Your accountant should confirm it.
Compare the four routes
Enter the asset and the quotes you have. The comparison discounts every payment to today's money and gives credit for what you still own at the end.
The asset
The quotes
| Route | Paid upfront | Monthly | Total paid | Net cost today* |
|---|
*Present value of all payments at your cost of money, minus the present value of the asset you own at the end. Hire purchase includes an example €150 option-to-purchase fee. Before tax and VAT, fees and insurance, and assumes the asset has no value to you under a lease after it is returned. Educational only, not financial or tax advice. Figures stay in your browser.
Five words worth knowing
- APR
- Annual percentage rate: the yearly cost of credit including interest and most fees. The fairest single number for comparing quotes.
- Hire purchase
- You pay a deposit and instalments; the asset becomes yours after the final payment and a small option fee.
- Balloon payment
- A large final payment that lowers the monthly instalments. Plan for it from day one.
- Residual value
- What the asset is expected to be worth at the end of the term. It often decides whether buying or leasing is cheaper.
- Operating lease
- You rent the asset for part of its life and hand it back. Ownership and resale risk stay with the lessor.
Free help and our limits
Ask these first, free
- Your bank and the supplier's finance partner: ask for written quotes with the APR and all fees.
- SBCI: state-supported loan schemes through participating lenders, some aimed at investment in equipment.
- Credit Review Office: a free review if a bank refuses or reduces credit to your business.
- Local Enterprise Office: free mentoring and supports for small businesses.
- The Central Bank of Ireland register: check that any finance provider is authorised.
What we do not do
- Lend, lease, provide hire purchase, or hold or pass on money.
- Arrange finance for consumers or personal use.
- Promise approval, a rate or a residual value.
- Give tax, VAT or legal advice. Use your accountant or solicitor.
Fraud warning. Be wary of "guaranteed" asset finance for an upfront fee, and of sudden changes to a supplier's bank details. Confirm with the provider directly. If anyone asks for money in our name, do not pay. Report it to An Garda Síochána and let us know by email.
If something goes wrong
We want to hear about it. This is how a complaint about our work is handled.
- Tell usEmail us with your name, what happened and what you would like us to do. Put "Complaint" in the subject line.
- We acknowledgeWe aim to confirm receipt within five working days and tell you who is looking into it.
- We respondWe aim to give a full written answer within twenty working days, or explain why we need longer.
- Still not resolved?You can seek independent legal advice, use the Small Claims procedure of the District Court where it applies, or, for data protection matters, contact the Data Protection Commission.
Complaints about a finance provider's decision or conduct go to that provider first. Regulated providers have their own complaints process and, where applicable, the Financial Services and Pensions Ombudsman.
Contact
Tell us what you plan to buy, the price, and any quotes you already have. We reply with the scope and a fixed fee.