Asset finance

Asset Finance allows businesses to acquire essential machinery, equipment, or vehicles without significant upfront costs. 

It offers the following options: 

Leasing Finance: Businesses lease the asset for a fixed term and makes regular payments, without owning the asset.

Hire Purchase (HP): This option enables a company to purchase an asset with agreed regular payments, with full ownership transferred upon completion of payments. 

Refinance: If a company owns unencumbered or partially financed assets, lenders may provide financing based on their current value, less any outstanding finance – Refinance terms largely depend on age and residual value of the asset. 

When it comes to Asset Finance, including vehicle solutions, a trading business should shop around for opportunity and cost benefits beyond your regular supplier to potentially make significant cost savings and risk reduction.

Here's what you should keep in mind: 

Types of Assets - We have access to numerous lenders that specialise in different types of assets.

• Hard Assets – Machinery, Plant, Commercial Vehicles, and Construction Vehicles 
• Soft Assets – Office Equipment and Furniture, IT Hardware and Software, Security Systems, and Property Fit Out 
• Vehicle Solutions – Company Vans, Trucks / HGVs, and Passenger Cars 
• New and Used Assets - Asset Finance can be used to finance both new and used assets. You have the flexibility to choose assets based on your budget and specific requirements 

Flexible Terms 

• Asset Finance offers flexible terms ranging from 2 to 7 years in Hire Purchase, Leasing and Re-finance products (Criteria apply to the age of used assets at the end of the finance term).
• Businesses can choose a repayment period that aligns with their budget, the expected lifespan and usage of the asset.

Case-by-Case Credit History - We have access to lenders who can consider applications for clients without a perfect credit history

The credit history of a business is considered when assessing Asset Finance applications. The credit history of the controlling persons within the business is also a factor.

Each case is evaluated individually, and businesses with less favourable credit histories may still be eligible for financing, albeit potentially on different terms. 

Benefits of Investing in Assets 

• Improving production efficiency and client service levels 
• Expanding the range and quality of products or services offered 
• Increasing turnover and profits 
• Creating a competitive advantage, and enhancing customer experience 
• Enabling business expansion 
• Tax relief incentive on investment spend (‘Full Expensing’ capital allowance relief) 
• Reduced cost of funding compared to unsecured business lending 
• Assets leave other business security and guarantees intact 
• Reducing long-term business costs