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Asset Finance · Advanced Hacks

The Asset Finance 100.
Advanced Hacks

Focus: Pro tips for experienced borrowers and complex deals.

16+Questions
100%Expert Answers
FCARegulated
How do I choose between leasing and hire purchase?
TL;DR Choosing between leasing and hire purchase (HP) depends on ownership goals, tax strategy, and required flexibility. We explain the key differences to help you decide which business finance option is right for you.
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What are the benefits of using a broker for asset finance?
TL;DR Discover the key benefits of using an asset finance broker in the UK. Brokers save time, access better rates, simplify applications, and offer expert advice tailored to your business needs.
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What happens to the asset at the end of a finance lease?
TL;DR Understand the three main exit routes when a UK finance lease ends: returning the asset, secondary leasing, or purchasing the asset outright (peppercorn sale). We explain residual risk and options.
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How do global economic conditions affect asset finance?
TL;DR Global economic shifts significantly impact asset finance through interest rates, currency fluctuations, and demand. Learn how inflation and geopolitical risks affect equipment leasing and business investment decisions in the UK.
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What is the difference between asset finance and factoring?
TL;DR Asset finance and factoring are key business funding tools. Understand the crucial differences: finance funds physical assets like machinery, while factoring funds cash flow by leveraging unpaid invoices.
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How is asset finance affected by inflation?
TL;DR Inflation significantly impacts asset finance costs and valuations. Learn how rising interest rates, residual value risks, and capital expenditure planning affect UK businesses relying on leasing and hire purchase agreements.
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What are the tax implications of sale and leaseback?
TL;DR Understand the complex tax implications of sale and leaseback agreements in the UK. We cover Capital Gains Tax, Stamp Duty Land Tax, VAT, and Corporation Tax implications for businesses.
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What is the impact of Brexit on asset finance in the UK?
TL;DR Understand how Brexit has influenced asset finance in the UK, affecting interest rates, regulatory structures, and the cost of imported assets. We detail the key changes and market challenges.
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What is sale and leaseback in asset finance?
TL;DR Learn exactly what sale and leaseback means in UK asset finance. Discover how businesses unlock capital by selling assets and leasing them back, the process involved, and key financial benefits and risks to consider.
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What are my responsibilities as a lessee under asset finance?
TL;DR Understand your obligations as a lessee under asset finance. We detail key responsibilities including maintenance, insurance, usage restrictions, and what happens upon default or termination.
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Can I cancel an asset finance agreement after signing?
TL;DR Understanding your right to cancel asset finance in the UK is crucial. Learn about cooling-off periods, withdrawal rights, termination clauses, and financial risks.
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What is vendor finance in the context of asset finance?
TL;DR Vendor finance is a partnership between a vendor and a finance provider, helping customers acquire assets easily. Learn how it works within UK asset finance.
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Can I refinance existing assets?
TL;DR Refinancing existing assets, like property or land, can free up capital for new investments or needs. Learn how secured loans and bridging finance work in the UK.
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Are there sector-specific asset finance options?
TL;DR Yes, asset finance is highly sector-specific, tailored to the unique equipment and capital needs of industries like construction, agriculture, and transport. Learn about tailored options.
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Can I negotiate asset finance terms?
TL;DR Asset finance terms are often negotiable. Learn how to secure better interest rates, adjust payment schedules, and reduce fees when arranging equipment, vehicle, or machinery finance in the UK.
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Can asset finance improve my cash flow?
TL;DR Asset finance frees up working capital by funding essential equipment without large upfront costs. Discover how different asset finance options can significantly improve your business cash flow.
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Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.

More than 50% of borrowers receive offers better than our representative examples

The %APR rate you will be offered is dependent on your personal circumstances.

Mortgages and Remortgages

Representative example

Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66

Secured / Second Charge Loans

Representative example

Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20

Unsecured Loans

Representative example

Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME

REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774
Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG

Authorised and regulated by the Financial Conduct Authority – Number 681423
The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages

Website www.promisemoney.co.uk