More Than Just a Provider of Finance

Hire purchase / Lease Purchase

Both hire purchase and lease purchase give you eventual ownership of the asset at the end of the repayment term.

It's suitable for light and heavy commercial vehicles, engineering machinery, construction equipment, buses, coaches and miscellaneous plant.

Benefits:

• Fixed monthly payments allow you to budget over the term
• Simple documentation
• A means of spreading the cost over the useful life of the asset
• You are the owner of the asset for tax purposes and can claim capital allowances
• Monthly repayments do not attract VAT
• Hire purchase charges can be offset against profits for taxation
• If you are registered for VAT, you can reclaim VAT on the capital cost of the asset.

Finance Lease

Finance leasing allows you the full use and benefits of an asset but without the potential burdens of ownership as this rests with the lessor.

It's suitable for light and heavy commercial vehicles, engineering machinery, construction equipment, buses, coaches and miscellaneous plant.

Benefits:

• Flexible rental patterns and lease periods
• If you are registered for VAT then the VAT charged on rentals can be reclaimed
• Option to extend the lease into a secondary period
• You will receive the majority of the sale proceeds when we sell the asset.

The lease period will be set for the useful life of the asset and at the end of the term you will have two options:

1. Sell the goods to an independent third party and be offered the majority of the sale proceeds
2. Enter a secondary rental period and continue to use the asset

Operating Lease

An Operating Lease is a flexible way of enjoying the benefit of an asset without purchasing it outright. Low rentals are achieved by basing them on a percentage of the initial capital cost of the asset. The finance company bears the risk of recovering the rest from resale of the asset at the end of the agreement.

Benefits:

• You have full use of the asset without buying it outright
• Rentals can typically be offset against profit before tax
• If you are registered for VAT, you can normally reclaim VAT on the rentals
• Rentals are considerably reduced as they are based on a percentage of the original capital cost
• Rentals can be arranged to mirror customer's cash flow
• End of term flexibility - the opportunity exists to re-rent the asset for a further term or you simply return the asset
• Flexible rental terms from 2 years upwards. Rental periods can be matched to the planned use of the equipment
• This form of funding can be classified as "off-balance sheet" funding subject to conditions approval.

Commercial Loans

Unsecured facilities designed to provide finance for business use in which the financier cannot, or will not, take title owing to the nature of the assets.

Benefits:

• Allows funding of unsecured goods which cannot be funded under HP or Lease
• No legal charge formalities
• Allows customers to buy as cash purchase and gives freedom to buy where and when desired
• Fixed interest rates

Refinancing

A facility to release the equity in wholly or partly unencumbered assets, allowing an instant capital injection to your business

It's suitable for commercial vehicles, engineering machinery, construction equipment, buses, coaches and miscellaneous plant.

Benefits:

• Assists cash flow by injecting capital into the business
• Can reduce monthly payments
• You have continued use of the asset being refinanced
• The capital raised allows for the purchase of other business assets not normally considered suitable for standard hire purchase or leasing agreements