Paving the way for Plant Asset Finance

If owning your machinery is important to you then you’ll dig this. You pay a deposit upon purchase and set up payments over installments that make sense to your business ambitions. At the end of the term, your asset is for keeps.

The purchases can be deposit free! VAT only deposits are available which all registered businesses can then claim back. We can also offer VAT deferrals for a set period so payment isn’t due until you decide to claim back. At the end of the term a small ‘option to purchase fee’ is payable then the asset ownership flips to the borrower.

With smaller, monthly payments spread across an agreed period of time, Hire Purchase Keeps capital in the business for more business related funding. With an installment plan of this kind, you can harness your business potential and rid any stress of giant upfront costs.

And, if you’re savvy with your books, you can offset any hire purchase interest against pre-tax income. You can thank us later.

The main bonus with this option is that you don’t have to pay VAT on assets as a whole. You pay the VAT on the monthly instalments instead, hence amounting to more digestible, bitesize chunks over a longer period of time. This method of borrowing will eliminate paying a large VAT cost along with a deposit at the beginning of your asset finance agreement.

By freeing up your cash, you’ll free yourself from stress. We understand that, now more than ever in the face of recent events, businesses want to prioritise cash flow. We could dig you out of trouble.

As you can see by the name, this method implies that you give the products back at the end of the agreed lease term. When the lease is up however, you do have some flexibility. We’ll never leave you between a rock and a hard place. You can simply return it if you’re done, sell the asset in partnership with us, or re-enter another rental contract.

PCP (Personal Contract Purchase) is also known as Balloon Payments, which you guessed it, is exactly as it sounds. This type of asset finance describes the lump sum you pay at the end of your term of agreement in exchange for lower monthly payments. You scratch our back(loader), we’ll scratch yours.

Balloon Payments can be integrated into the other types of asset finance too. We want to make your life easier. If lowering your monthly costs is beneficial to your business, we can discuss implementing a Balloon Payment into a Finance Lease or a Hire Purchase agreement.
Upfront payments are not always necessary but are gauged against Guaranteed Future Value (GFV) of the asset. This is very popular against high value assets or those clients with smaller monthly budgets. Sports cars are a prime example of this, making them more accessible on tighter budgets. Basically, at the end of the term, you can either pay back the balloon figure or hand the asset back. We’re easy.