Hire Purchase.
Own the asset but spread the cost.
Broaden the range of options available to your business – replace old or outdated equipment, expand your product offering with new machinery, or update your business vehicles, whilst avoiding the significant impact of large upfront payments on your company’s cash reserves.
Key benefits include:
Retain the rights of ownership with the cost spread over time
Manageable monthly payments with fixed interest rates
Tax efficient, with interest and charges offsetable against pre-tax profits
Flexible deposit options and seasonal payment plans available
Finance Lease.
Use the asset without the ties of ownership.
Not all businesses have the available capital to pay for new vehicles and equipment upfront. Even for those that do, it might not be the most cost-effective use of their company’s working capital.
Hiring the equipment, by way of a Finance Lease, allows use of the new machinery or transport with manageable payments over a set period of time.
Key benefits include:
Utilise the asset without the liability of ownership
Monthly payment plan tailored to your business’ needs
Payments can be deducted from income as a trading expense
Choice of options available when the primary lease period ends
Asset Refinance.
Unlock capital from existing assets.
Raise funds for your business by unlocking capital from your machinery, equipment or vehicles, without restricting whether you can continue to use them.
Refinance can provide the funding to make a host of options possible; whether the capital is needed for growth to develop new markets, expand and restructure or upgrade premises. Refinance can also bring stability by consolidating debts and reducing monthly payments or repaying HMRC arrears. It is a solution that is both affordable and risk averse.
However, we would highly recommend working in partnership with a consultant lender who specialises in this field (which Praetura Asset Finance do), to ensure the funding package is structured in the most beneficial way for your business.
Key benefits include:
Raise funds from the assets your business owns (or is currently financing)
Utilise the equity in those assets to raise funds for a wide range of scenarios
Reduce monthly outgoings by consolidating existing debt
Continue to be able to use the assets
