WHAT SOLUTIONS ARE AVAILABLE?

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• Hire & Lease Purchase – Is the most recognised form of asset finance and is used by individuals and business who wish to own the asset. A loan secured against the asset which is pay for by regular instalments. You have full use of the asset whilst paying the loan, and ownership transfers when full paid for. Options include VAT deferment, seasonal payments, balloons, fixed and variable payments and minimal deposit deals.

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• Finance Lease – This differs from Hire Purchase, you will have full use of the asset without ownership. The finance company owns the asset and is rented to you over an agreed period of time. VAT is payable on the rentals and upon completion of the agreement you are able to retain the use of the asset by paying a secondary period rental, sell the asset to a third party or hand the asset back to the finance company. Leasing, can be cost effective as the finance company claims the writing down allowances and passes them onto you in the form of lower rentals. Leasing can also be tax efficient as rentals can normally be offset against taxable profits.

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• Operating Lease – This is a rental agreement which can be used to finance a broad spread of business assets. The funder builds in a residual value to reduce rentals which can help your cash flow. Operating lease can be tax efficient as rentals can normally be offset against taxable profits. At the end of the operating lease term you do not have the responsibility of disposing of the asset you simply hand the asset back.

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• Refinance – This is a finance facility which provides a simple way of releasing equity in unencumbered assets or assets nearing the end of their original finance agreements. Refinance can give a boost to the working capital requirements of your business and the funds can be used for a variety of different reason including business expansion, capital injection, paying tax or restructuring existing finance agreements to reduce monthly outgoings. Refinance agreements are structured using either Hire Purchase or Finance lease agreements.

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Assets that can be financed:

• Vehicles including cars, vans, HGV’s and bus/coaches

• Agricultural equipment

• Construction equipment

• Manufacturing and materials handling equipment

• Transportation and haulage

• Soft assets including computers, office equipment, telephone systems and software

• Renewable energy equipment.

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