Buying any asset for the business should be financially efficient, the asset should pay for itself over it’s working life. Finance lease and Hire Purchase is ideal for buying cars, trucks, IT, machinery, catering equipment, office furniture and any other identifiable asset. Usually low / no deposits and 3 – 5 year terms on average, rates are often much cheaper than loans and therefore a more appealing option for small businesses.
Businesses with larger assets (plant equipment, vehicle fleets, printing equipment) can use these assets to raise working capital, similar terms to HP and Finance lease but based on a depreciated value as the assets are no longer “new.”
