Asset Finance

Asset Finance is one of the most used types of finance in the commercial finance market. This type of funding allows you to acquire the assets and equipment you need, when you need them in manageable instalments over an agreed term.

Funding is flexible with the ability to support nearly anything form vehicles to specialised manufacturing and engineering equipment. Large-scale industrial equipment, computer hardware/software cycles and green energy projects are also fundable as well as the ability to release capital from existing owned assets.

At TCF we work with you to select the right type of finance for your business, this may involve creating a blend of funding with different products to suit your wider CAPEX plans. This will depend on asset types, age and life cycles as well as understanding the business’ tax position, taking advantage of tax reliefs. Deals will be structured around any seasonality, VAT quarters and asset cycles.

Hire Purchase – Benefits, spread the costs of a purchase of a specific term.

Typical term of 1-7 years

Finance Lease – Benefits, Stays ahead of depreciation.

Term from 1-5 years. No large deposits required.

Refinance – Benefits, Allows cash to be raised against existing equipment.

Term is variable depending on age and type of asset

Contract Hire – Benefits, Fixed monthly rental costs over the agreed period.

Asset can be handed back at the end of the agreed term. (Mainly used for vehicles)

Operating Lease – Benefits, most asset lines considered, lower rentals due to the built-in residual value.

Typical term 1-3 years.

Security, guarantees or indemnities may be required. Tax reliefs referred to are those applying under current legislation which may change. The availability and value of any tax reliefs will depend on your individual circumstances. Product fees may apply. Finance subject to status and is only available for business purposes unless otherwise stated. Over 18s only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.