Finance New Assets and Equipment: Spread the cost of the things you need

Vehicles, tools, IT and equipment of all kinds from right down to your chair and a desk are essential. But this presents a problem, particularly in the early stages of your business.

Buying all the assets you need for cash means a major capital investment. When it’s a big item, like a van or a machine tool, most firms don’t have the funds available. Asset Finance can provide the solution.

Asset Finance covers a number of funding arrangements, all of which let you spread the cost of the things you need. It includes ways to buy equipment outright, or lease it. It can be simple to arrange - but you need help to be sure you are getting the most appropriate deal for your business.

Why you need Rangewell to set up Asset Finance that’s right for you

Asset Finance can let you spread the cost of all kinds of business equipment from a toolkit to an entire factory and from a car to a bulldozer. It can cover manufacturing equipment finance, medical equipment, a kitchen for a chip shop or an aircraft. Naturally, this range means there are many different types of Asset Finance, and many different providers. Not all providers work in every sector, and terms and rates can vary widely.

At Rangewell, our team includes Asset Finance experts. They can help you find the right kind of finance arrangement, the lenders who work in your sector, and the most competitive deals. By searching across the entire market, we can often find asset finance plans which actually undercut the 0% finance offers provided by vehicle and equipment dealers.

Asset Finance is essential to spread the cost of the equipment you need. Our expertise is essential to get the Asset Finance that’s right for your business.

There are several types of Asset Finance that can help:

Hire Purchase – spreading the cost of buying

Hire Purchase is a simple way to spread the cost of buying an asset.

You pay a deposit plus fixed monthly instalments for the agreed term, which generally lasts between 12 and 72 months. The assets become your property as soon as the final payment is made. This can make HP the solution for durable items you want to keep, such as catering equipment and heavy machinery and for key business items such as a dentist’s chair or a tractor.

Operating Leases

Operating Leases work like a rental agreement in that you pay a monthly rental charge to use the asset.

Maintenance, repairs, and registration can be the responsibility of the leasing company. Operating Leases can be ideal for technical equipment with a limited life that you do not wish to own outright. Some types of medical and scientific instruments which may become obsolete may be suitable for an Operating Lease, as it can allow them to be easily replaced.

Finance Leases

Finance Leases also let you borrow equipment for a set time, but maintenance, repairs and running costs will become your responsibility.

Finance Leases are common with larger assets such as complete factory plant installations. If you want to set up a complete a production line, for example, a finance lease could provide the scale of funding required.

Contract Hire

Contract Hire is often used for business cars, vans and lorries.  

Payments can be reduced, as they are calculated on the purchase value less the estimated residual value of the vehicle at the end of the agreement. This type of finance can be suitable for many kinds of vehicle, from prestige cars, to HGVs and even aircraft.

At Rangewell, we help businesses of all kinds - agricultural, transport, construction, manufacturing, scientific and medical - find Asset Finance solutions.

When you call us, we can explain more about all the different Asset Finance options - helping you see which is the right choice for your business for both today and the future.