How does it work?
Asset finance comes in different forms and we are perfectly placed to find the type that works best for your business.
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Want to buy new equipment without raiding your cash reserves? With asset finance, you keep your money in your cashflow while still getting the tools your business needs to grow.
Asset finance comes in different forms and we are perfectly placed to find the type that works best for your business.
Hire purchase (often known as HP) loans give affordable access to new equipment by spreading the cost of your purchase over a contracted period. The lender owns the asset during the hire purchase contract and ‘rents’ it to you. At the end of the period, once all payments on the HP loan are made, you take full ownership of the asset.
Leasing is similar but without owning the asset at the end of the agreed term. At that point, you have several options – you can either continue to use the asset using a secondary lease at much lower rentals, upgrade to a new model, return the asset to the lender or sell the asset to a third party and keep a large proportion of the sale proceeds.
This is very similar to a Finance Lease but only for part of the asset’s useful life. This means that you pay a much-reduced rental as you only pay the difference between the cost price and the estimated residual value. Unlike a Finance Lease, you do not have the burden of ownership at the end of the lease term.
We would love to hear from you. Find out if our specialised team can help your business with a bespoke finance solution to suit your exact needs. Give us a call, drop us an email or fill in the form below and we’ll get straight back to you.
Telephone: 03300 948588
E-mail: info@bossassetfinance.co.uk
Regulatory Disclosure
Boss Asset Finance Ltd (FRN 831485) is an Appointed Representative of Consumer Credit Compliance Limited who are authorised and regulated by the Financial Conduct Authority (FRN 631736).
The permissions of Consumer Credit Compliance Limited as a Principal firm allow Boss Asset Finance Ltd to undertake Credit Broking. Boss Asset Finance Ltd act as a credit broker not a lender and we may be paid a fee based on the total amount of credit provided, calculated as a percentage of the balance financed. You will not pay more as a result of our commission arrangements.
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