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12th Dec 2017 - Contract hire funding solutions for personal and business users with vehicles supplied direct from local dealers with no admin fees
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Asset Finance

The professions team specialise in providing a variety of funding options for your business from Asset Finance to Loans.For more information please call 0370 600 6668 or complete the contact form below and one of our advisors will call you back.

Asset finance

what is asset finance

Asset finance is a type of finance used by businesses to obtain the equipment they need to stay competitive. It involves paying a regular charge for use of the asset over an agreed period of time, thus avoiding the full cost of buying the asset outright. The most common types of asset finance are Leasing and Hire Purchase.Leasing gives the customer access to new equipment by way of renting it for a contracted period, without owning the asset.The leasing company (lessor) buys and owns the equipment on behalf of the customer (lessee). The customer pays a rental for the use of the equipment over a predetermined period.

Asset finance

why use asset finance

Asset finance can be used to fund any asset – ranging from telephones, photocopiers, full office refurbishment through to medical equipment. It could be the perfect solution if your business needs new equipment that might otherwise be unaffordable. The various forms of asset finance provide a number of advantages for the customer:

  • They give businesses access to the equipment they need without incurring the cash flow disadvantage of an outright purchase
  • Finance agreements can often be tailored to the business’ needs, with flexibility on both the term and repayment schedule
  • Leasing and HP are excellent budgeting tools as payments are usually fixed, allowing improved cash-flow management
  • Asset finance providers often specialisse in a particular type of asset which they have expert knowledge about

Alternative funding products

Alongside Corporate Vehicle Services, the Professions team can provide funding options for all your other business needs:

Finance loans

We offer loans from 12 months to 5 years and can cover a whole range of needs. We can provide loans for but not limited to: Annual Subscriptions, General Equipment Purchases, Furniture & Fittings, EPOS, IT & Telecoms, Software Licences, VAT Payments, Tax Payments (Corporation & Income), Refurbishments, Building Renovations, Stock Purchases, Business Acquisition, Relocation Costs, Training Costs, Office-insurance Premium and more.

Hire purchase

Hire purchase (or lease purchase) lets you spread the purchase cost ofan asset over a longer period with fixed monthly payments. We help design a payment profile to suit your business and we offer flexibility on the cost of your deposit, fixed payments and the final lump-sum.

  • Flexible repayments
  • You can choose to reduce your monthly payments by paying a larger sum at the end (known as a Balloon Payment).
  • Reduce tax payments
  • You may also be able to offset repayment interest against your profits and reclaim VAT (rules apply).
  • Your business may be able to offset the interest charges against trading profit

Finance lease

Finance lease affords you some of the benefits of full ownership. The finance company purchases the asset and leases it to you over an agreed term, for a small initial outlay plus a fixed monthly rental which is tailored to meet your needs. When the lease term is over, you don't own the asset – but the finance company will give you a portion of the resale value.

  • Reduced up-front costs
  • Monthly leasing means you don't have to pay a lump sum up-front
  • Reduce tax
  • Only pay VAT on lease payments. You may also be able to offset leasing costs against taxable profit
  • Flexible repayments
  • Lease payments can be tailored to match your cash flow

Contact us

Professionsfinance@mannisland.co.uk
0370 600 6668

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