Asset Finance

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

An asset is an item of property that has intrinsic value. Buildings, vehicles, and equipment are typical examples. Businesses generally use assets to assist their day-to-day operations. However you may also use them to pay off debts, secure a loan, or meet a commitment.
Asset finance leverages the value of assets such as vehicles, buildings, and equipment. When you need such assets, but don’t want to make a large cash payment to buy them outright, such finance can support your purchase. It does this by spreading the cost over time. You make smaller, regular payments during a fixed term. Fees and interest are charged in addition to the cost of the asset. You have full use of the asset throughout the term.

The main types of Asset Finance include:

  • Hire Purchase
  • Finance or Capital lease
  • Equipment or Operating lease
  • Contract Hire
Funding
£1000 to £7.5m
Repayment Terms
6 months to 5 years
Typical rates?
Can depend on Asset/contract type

All interest rates quoted are indicative only as rates will only be confirmed based on the risk profile for each deal. Risk category associated with the deal. This is based on primarily debt survivability and security available for the loan

Advantages of Asset Finance

    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


Things to be aware of…

    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


Access Asset Finance, we can help

Finpoint is free to use for businesses. We’re 100% transparent about fees and rates, and give you access to the UK’s largest panel of business lenders. We’re also 100% independent. Our only interest is in making sure you get the right business finance.

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