Asset Finance/Leasing

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Asset finance is a type of lending that allows you to acquire assets, such as vehicles, equipment, and machinery, without having to pay the full upfront cost. This can be a great way to improve your business’s productivity and efficiency, without having to tie up your cash.

Types of Asset Finance

There are a number of different types of asset finance, including:

  • Chattel mortgages: This is a type of loan that is secured against the asset you are financing.
  • Equipment leasing: This is a type of lease agreement that allows you to use an asset for a specified period of time, in exchange for regular payments.
  • Hire purchase: This is a type of agreement that allows you to purchase an asset over time, by making regular payments.
  • Finance leases: This is a type of lease agreement that is similar to a hire purchase agreement, but you have the option to purchase the asset at the end of the lease term.
  • Operating leases: This is a type of lease agreement that is similar to a rental agreement, and you do not have the option to purchase the asset at the end of the lease term.

Benefits of Asset Finance

There are a number of benefits, including:

  • Improved cash flow: It can help you to improve your cash flow by allowing you to acquire assets without having to pay the full upfront cost. This can free up your cash to be used for other purposes, such as marketing or research and development.
  • Improved productivity: It can help you to improve your business’s productivity and efficiency by giving you access to the latest equipment and machinery. This can help you to reduce your costs and increase your output.
  • Improved credit rating: It can help to improve your business’s credit rating by showing lenders that you are able to make regular payments. This can make it easier for you to obtain other types of financing in the future.

How to Get Asset Finance

If you are considering asset finance, there are a number of things you need to do, including:

  • Shop around: There are a number of different lenders that offer asset finance, so it is important to shop around and compare rates.
  • Understand your needs: You need to understand your business’s needs and what type of asset finance is right for you.
  • Get quotes: Once you have decided on the type of asset finance you need, you need to get quotes from a number of different lenders.
  • Apply for finance: Once you have found a lender that you are happy with, you need to apply for finance.

Call to Action

If you are interested in learning more, please contact us today. We would be happy to discuss your options and help you find the right solution for your business.

Loan Process

We follow a systematic process that keeps everything on track and discipline is what drives us forward.

Contact our dedicated lending specialist

01

Send your documents

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We provide you with options.

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Aprroval

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Settlement

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Understanding common asset finance options.

Commercial hire purchase

Obtain the business equipment or car you need through a hire purchase loan, where you pay hire charges over a fixed period. As soon as all your hire purchase payments are complete, ownership of the asset is transferred to you.

Chattel mortgage

Commonly used by business owners and operators for car and equipment finance. With a chattel mortgage, the asset is owned by you from the outset and the loan agreement is secured by the asset.

Finance lease

Finance leases are flexible leases for businesses wanting the option to buy at the end of the lease or hand back the asset.

FAQ

Asset finance is usually set over a period of one year through to seven years.
A residual amount (sometimes referred to as a balloon payment) is a one-off payment at the end of the loan term. This is factored into the total cost of your loan at the beginning of the term.