What is the difference between hire purchase and finance leasing?

With hire purchase you pay fixed instalments and own the asset outright at the end of the term. With a finance lease you rent the asset for its useful life, keep payments lower and can return, extend or sell it on the lender's behalf at the end. The right option depends on whether you want ownership and how you treat the asset for tax.

Can I finance used or second-hand equipment?

Yes. Many lenders on our panel fund used equipment, machinery and vehicles, typically up to 7–10 years old at the end of the agreement depending on the asset type.

How much deposit do I need for asset finance?

Deposits typically range from nothing up to 10–20% depending on the asset, its age and your trading history. Established businesses with strong accounts can often secure funding with no deposit.

All solutions

Asset Finance for UK Businesses

Finance the equipment, machinery and vehicles your business needs without tying up all of your working capital.

Book a Consultation

What can you finance?

Machinery
Plant
Vehicles, vans and HGVs
Technology and IT hardware
Manufacturing equipment
Specialist and sector-specific equipment

Who can we help?

Limited companies, LLPs and partnerships with 12+ months trading
Construction, haulage, manufacturing and engineering firms
Healthcare, hospitality and retail operators
Businesses replacing ageing kit or scaling capacity
Companies wanting to keep cash in the business rather than buy outright

How much can you borrow?

£10,000 to £5m+

Facilities are sized to the asset rather than your balance sheet, so growing businesses can fund significant kit. Terms typically run 1–7 years, with deposits from 0–20% depending on asset age and trading history. Hire purchase gives you ownership at the end; a finance lease keeps payments lower.

How quickly can funding be arranged?

Decisions in 24–48 hours

Most asset finance approvals come back within one to two working days. Once documents are signed, funds are paid to the supplier and your equipment can be delivered, often within a week of first enquiry.

Underwriting

What do lenders look for?

Knowing what underwriters weigh up lets us present your case properly the first time, which means faster decisions and better terms.

01Trading history and recent filed or management accounts
02The asset itself: age, resale value and supplier
03Affordability of the monthly payment against cash flow
04Deposit or part-exchange contribution
05Director credit profile and any existing borrowing

FAQ

Asset Finance questions

Get a quote

Get an Asset Finance Quote

Tell us a little about your business and requirement. We'll compare asset finance options from across 165+ UK lenders and come back to you with clear, tailored terms. No obligation, no impact on your credit score.