Asset finance: questions and answers

All questions

Who are the best asset finance companies in the UK?

Well-known providers include Lombard, Close Brothers Asset Finance, Aldermore, Novuna Business Finance, BNP Paribas Leasing Solutions and Shire Leasing. The best one for you depends on the asset, the structure and your credit profile. Tally, which runs this site, can match you.

Is asset finance a good idea?

It's often a good way to get equipment without a large upfront cost, because payments are spread out and the asset secures the deal. Compare the total cost with buying outright.

What's the difference between asset finance and a loan?

Asset finance is tied to a specific asset, which secures the agreement. A loan gives you cash that may be unsecured.

Can I get asset finance with bad credit?

Often, yes, especially for hard assets. Expect a larger deposit or higher rate. See asset finance with bad credit.

Can a new business get asset finance?

Yes, usually with a deposit or personal guarantee. See asset finance for start-ups.

Hire purchase or lease?

Hire purchase if you want to own it. Lease if you'll upgrade or don't want ownership. See hire purchase vs leasing.

Can I finance used equipment?

Yes. Lenders may limit how old it can be at the end of the term.

Is asset finance available under the Growth Guarantee Scheme?

Yes. Asset finance from £1,000 can be offered under the scheme by accredited lenders. See Best Growth Guarantee Scheme Lenders.