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Asset Finance explained
Purchasing new machinery or replacing existing equipment? We can help you find the Asset Finance option that is right for you.
Have the facts before you apply
Leasing or renting assets such as machinery or office equipment can save you the initial costs of buying them outright. In addition, asset finance may have other benefits for your business (cash flow, tax, etc.)
Advantages of asset finance
Advantages include:
- access to a high standard of equipment that you might not be able to afford otherwise
- interest rates on monthly instalments are usually fixed
- typically less risky compared to bank loans – if you can’t make payments you’ll lose the asset but not, for example, your home
- the leasing company carries the risk if the equipment fails or breaks down
- as long as you pay regularly, the agreement can’t be cancelled
- it’s widely available
Disadvantages of asset finance
Disadvantages include:
you can’t claim capital allowances on a leased asset if the lease period is less than 5 years (or 7 years in some cases)
it can be more expensive than buying the asset outright
some long-term contracts can be difficult to cancel early
you may have to pay a deposit or make some payments in advance
Borrow
From £1,000 to £7.5 million or more
Terms
From 6 months to 5 years
Featured Funder
Finpoint is staffed with impartial finance experts that speak your language and are always ready to walk you through the pro’s and con’s of each option before you proceed. Decide without any pressure, safe in the knowledge you got the best funding solution for your business.
Looking for Asset Finance?
Make one simple application to find the right funding for your business
Advisors, please sign up here
Looking for unbiased advice?
Finpoint is designed to help your business find the most suitable finance option. The use of our platform is completely free for companies and their advisors.
Our expert support team is ready to help and answer any questions you have while preparing your finance project.
Watch our short video to learn more about Finpoint or feel free to visit our Frequently Asked Questions section.