Asset Finance enables the business to purchase physical assets. Examples of the type of assets that could be financed are vehicles which could be business cars or commercial vehicles, plant and machinery, machine tools and computer equipment.
There are a variety of ways a business can finance the purchase of an asset through Asset Finance and a particular method may be beneficial to the business at a given time in terms of the tax implications. This is something to discuss with your Accountant before going ahead with the purchase.
The benefit of using asset finance to fund these purchases in front of a Bank Loan is that a Bank will only be able to lend a finite overall amount to the business. If you need the bank for an overdraft facility then you do not want to take up valuable bank support with an asset purchase that can easily be financed elsewhere.
We can obtain favourable rates for Asset Finance on behalf of our clients, if you would like to find out more please get in touch. |
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