Asset Finance
Asset finance involves obtaining funding for the purchase of a specific asset, or sometimes a pool of assets.
Key Facts
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This can be a new asset or raising funds against an existing asset (Asset Refinance).
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Available on commercial vehicles, cars, plant and machinery (non-specialist), and all types of business equipment. It is even available on furniture, fittings, IT, security and catering equipment (specialist).
How It Works
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Business agrees to buy an asset from a supplier (anything from vehicles, machinery, tables, software).
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The cost is paid in full by the lender and cost is spread out over the chosen term, with repayments made, monthly or quarterly.
Notices
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Covers both new and used assets.
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For Companies based in the UK.
Why May You Need It?
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Your business shows a need to increase motor vehicle or plant and machinery additions.
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Your business has outstanding or a historic use of asset finance and may want to review it's cost effectiveness.
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An increase in fixed assets could indicate a reduction in cash flow.
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Your business often purchases assets such as a commercial vehicle dealership buying stock in the form of cars and vans.
Popular Industries
Commercial Vehicle Dealerships
Dealerships can offer asset finance options to their customers, allowing them to obtain vehicles such as trucks, vans, or construction equipment through leasing or hire purchase agreements.