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ASSET FINANCE

What is asset finance?

We offer a flexible and simple approach to funding. Asset finance gives your business access to the equipment, vehicles, plant and technology it needs to perform and grow, without compromising cash flow. It can be used for both new and second-hand assets, or as a mechanism for releasing the value from those you already own (known as asset refinance).

What types of assets do we finance?

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VAST Commercial Finance can help fund a wide range of assets supported by a huge panel of lenders. We fund anything from vehicles, machinery, manufacturing items, to catering equipment, IT, software, and leisure/gym equipment. No matter how niche or obscure the asset – the chances are we can help.

What types of asset finance products do we offer?

Asset Refinancing

Finance Lease

If you already own equipment and you want to release some of the capital tied up in those assets, then this kind of asset lending may be right for you.

 

A lender buys your equipment, then leases it back to you over an agreed period. You'll make regular payments spread across that period.

A Finance Lease agreement gives you the asset you need without needing to buy it outright.

 

You pay the rent for the full use of it. The rental period is flexible and tailored to your needs. Throughout the duration of the finance lease agreement, you’ll pay the full cost of the asset, including interest. When you reach the end of your primary finance lease term, you have a few options:

 

  • You can continue to rent the asset for a secondary rental period

  • You can sell the asset and retain an agreed amount of the sale value

  • You can return the asset to the leasing company

 

Key Advantages

  • Lower deposit amount – no huge initial outlay

  • Flexible – the agreement term and payments bespoke to your business

  • Tax efficient – rental amounts in most instances can be offset versus pre-tax profits

  • Reduce costs – VAT can be reclaimed on rentals

This is a common type of asset-based lending. With a hire purchase, you can buy the asset and pay for it in instalments, so you can get the asset immediately, but spread the cost over time.

 

Once you’ve completed all the payments, you’ll have full ownership of the item. You would be expected to pay a deposit before the fixed monthly instalments. You’ll also be responsible for the maintenance and insurance costs of the asset.

Key Advantages

  • Time to repay – you can spread the cost over the life of the asset

  • Control – you’re the owner of the asset for tax purposes and can typically claim capital allowances

  • Tax efficient – typically you’re able to offset interest and charges versus pre-tax profits

Hire Purchase

Not sure which finance product you need?

Our experienced team are available to speak to you about your options.