Buying Second Hand Assets

Pre-owned assets, from machine tools to coldrooms and earthmovers, can do the job at a fraction of the cost. With today’s longer manufacturer warranties and life expectancy, they can be a sound investment ready to give you years of service.

Of course, even pre-owned equipment can still mean a big capital commitment – unless you get our help to refinance current assets with Used Asset Finance. Despite what you may have been told, it is not only possible to provide cost-effective funding for used heavy equipment - if you come to Rangewell we can make it simple.

Why you need Rangewell to set up Asset Finance for used equipment

Asset Finance lets you spread the cost of business equipment, from handtools to an entire factory and vehicles from cars to bulldozers. However, providing finance for used assets means an extra level of complication. Most finance providers lack the necessary expertise to deal in this sector.

As a result, most will only finance new assets.

At Rangewell, our team not only have the necessary specialist expertise to find funding for used assets - we know and work with lenders who are ready to help. We can work with you to find the most appropriate type of funding for virtually any used asset, helping you through issues such as valuation, unique asset identifiers and depreciation.

Our unique expertise means you save twice. First, you can have your equipment without the cost of buying new – second, you can have it without a big drain on your capital. Leaving more of your essential working capital intact means big benefits for your short, medium and long-term financial outlooks. Contact us to understand how you can be better off with Used Asset Finance.

Buying or leasing used equipment

There are several types of Asset Finance that can help:

Hire Purchase – spreading the cost of buying

Hire Purchase is the 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 yours, making HP ideal for durable items you want to keep, such as catering equipment, heavy machinery, and many types of medical and scientific instruments.

Operating Leases

Operating Leases work like a rental agreement. 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.

Finance Leases

Finance Leases also let you borrow equipment for a set time, but maintenance, repairs and running costs are your responsibility. Finance Leases are common with larger assets such as plant installations. If you want funding for a production line, for example, a Finance Lease could provide the scale of funding required.

Contract Hire

Contract Hire is often used for business vehicles or finance options for farm equipment. Payments can be lower, 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 sometimes be arranged with nearly new assets - letting you work with prestige cars, low mileage tractors and low-hours equipment when someone else has paid for the immediate depreciation.

Explaining your options

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 - whether you're looking at financing new assets and equipment or used. 

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

So, if you need equipment, plant or vehicles - from a top-end coffee machine to truck finance - and want to know how you can save by using Asset Finance to acquire pre-owned assets, please call us - we can help you source the finance options for your business.