Simply Asset Finance

Asset finance is a broad category of finance that includes Leasing and Hire Purchase. Where this sector differentiates itself from Equipment Finance, is in the type of tangible assets being offered. Generally speaking, asset finance is used to finance larger, more tangible items such as vehicles and machinery.

Asset Finance provides businesses with a measured approach towards purchasing equipment, vehicles and machinery. Rather than paying a cash lump sum upfront – a method of payment which can often be a costly drain on your cash resources – asset finance allows your business to spread the cost of the asset over a period of time. This often better suits the needs of a company, when repayments can be made, for example, through monthly instalments. This prevents you from tying up valuable capital in assets that would otherwise depreciate over time. You can choose to either lease the asset or make use of a Hire Purchase agreement, enabling you to own the asset outright at the end of the contract.