Asset Finance

We make it easy to get the equipment a business needs without the upfront costs through Hire Purchase, Lease or Refinance. And we’re fast. Finance is usually in place within 24 hours.

Request a quote

Asset Finance Facts

Asset Finance is a great solution to help businesses invest in equipment, machinery, vehicles and other hard assets that can help them keep moving without putting any additional pressure on cashflow. And it also can be used to inject cash back into a business and boost cashflow by refinancing existing assets.

Non-regulated facilities only to any UK registered or domiciled business
Minimum facility size: £10,000 (Ltd company) or £25,000 (non-limited).
Maximum facility size: £500,000 for a single asset and £2m for a single customer
Balloon payment up to £100k
Cars costs up to £200k (including VAT)
Term from 12 months to 84 months
Funding available within one working day
Hire purchase, leasing and refinance options
Fixed repayments
Set-up fee and option-to-purchase fees apply
Security required: the asset(s) being financed

Download introducer fact sheet Download business fact sheet

Let’s get things moving

If you would like to talk to us about any funding needs, call us on 0800 121 7757, register as an Introducer or request a quote for your business today

Register as an introducer Get funding for your business

What is Asset Finance?

Get the equipment your business needs without the large upfront costs. For many businesses, accessing the required equipment to operate can be a costly affair. This needn’t be with an Asset Finance facility – you can access the funding you need to secure the asset and repay through instalments to protect your cashflow.

Select Tab

Acquiring hard assets for your business can be a major pressure point on your cashflow. Businesses in the transport and haulage industry for example often need to replace their fleet of vehicles, which can be very costly. Manufacturing companies rely on expensive machines to keep their business moving, and one faulty piece of equipment can quickly create many issues.

With an Asset Finance facility, you can borrow the funds you need to purchase your assets and spread the cost over monthly repayments rather than having to part with much needed working capital from the outset.

Types of Asset Finance and how to use them

There are three main variations of Asset Finance, each with their own benefits. If you are unsure which type is best to help you meet your business ambitions, our team of experts will help you assess your options and find the right funding for you.

Hire Purchase

With Hire Purchase, the lender advances you the funds to acquire the asset but retains ownership of the purchase and leases it to your business against fixed monthly repayments.

This option usually entails a larger initial payment and smaller monthly repayments each month.

Once the agreement ends, you can choose to purchase the asset with a further payment.

Hard vs Soft assets

When looking at using Asset Finance, it is important that you think about the nature of the assets you are looking to acquire, or your existing assets you are looking to refinance against.

Assets can be put into two main categories: hard assets and soft assets. Knowing which category your asset falls into is the first step as although a majority of lenders will fund against most hard assets, it could be more difficult to acquire finance against a soft assets. Here at Ultimate Finance, we will only fund against hard assets for example.

Hard assets

Hard assets are most commonly high value items required to keep your business moving. They also provide a strong security for lenders as they tend to retain value for many years.

They could include the following:

Vehicles (cars, trucks, buses and coaches, agricultural machines such as tractors, etc)
Machinery
Plant equipment
Engineering equipment

Soft assets

Soft assets may prove more difficult to acquire through Asset Finance as they tend not to provide as much security as a hard asset. Their value is usually lower, and they could hold barely any value if none at all by the end of the facility’s terms.

They could include the following:

Computer hardware or software
Electronics
Telecoms
Epos equipment
Audio visual equipment

Please Note: Ultimate Finance provides Asset Finance for hard assets only. If you are unsure whether your asset is deemed hard or soft, please do not hesitate to contact us to discuss your requirements.

Eligible business assets

Our Asset Finance facilities are available against assets that are deemed Durable, Identifiable, Movable and Sellable. We will consider most types of hard assets, but not soft assets.

Agriculture
Vehicles (cars, buses, coaches, trailers, etc)
Catering
Equipment (dependent on asset)
Construction
Engineering
Heavy / light commercial vehicles
Machinery
Plastics / injection moulding
Waste processing
Recycling equipment
Wood working
Yellow plant

Should you be unsure whether an asset is eligible for an Asset Finance facility simply get in touch with us today.

Request a quote

Frequently Asked Questions

Hire Purchase gives you the option to purchase the asset for a small fee at the end of the agreement.

With Hire Purchase, you generally pay a higher amount upfront. The remaining cost of the asset is split and repaid at a pre-agreed fixed-rate of interest per month until the end of the agreement.

At the end of the agreement, you will be given the option to purchase the asset outright for a small fee.
Refinancing allows you to release cash that’s tied up in your existing assets and can help boost your cashflow. It can be provided on both Lease Financing and Hire Purchase agreements – even if you have money still left to pay.

Usually Refinancing is worked out as a percentage of the asset’s equity. If you own the asset without finance, you’ll typically be able to get a higher percentage of the item’s overall value.

“Having dealt with finance companies most of my working life, what I found most satisfying was the understanding that business dealings don’t have to be done with ‘stone faces’ on – their ability to be professional while operating in a friendly down to earth fashion was so pleasing.”

Why choose Ultimate Finance?

At Ultimate Finance we have over 20 years’ experience in providing businesses with the right funding solutions to help keep their business moving.

Since 2002, we have become the funding partner of choice of thousands of businesses of all sizes and across all industries.

Solutions that work for businesses and introducers

It’s why more and more businesses are choosing us as their funding partner of choice

Recent Customer Success Stories

Discover how Asset Finance helps businesses with their amibitions

When this long-standing client, a glass manufacturing company, was offered the opportunity to buy equipment from a business abroad that had gone into administration, it faced unexpected hurdles sourcing funding because of the international aspect of the transaction, but with the help of industry broker Rory McKay from Premier Asset Finance and Stephen Brook, Senior Regional Director at Ultimate Finance, the business was able to meet its ambitions.

View case study