Finance
Finance Options Available!
Hassell’s are an Introducer Appointed Representative of First Capital Finance Limited. First Capital Finance is an independently owned asset finance company providing the business community with an unrivalled Business Finance Service for purchasing business assets, such as cars, commercial vehicles, and material handling equipment. Our team have decades of banking and finance industry experience and enjoy business relationships with 1000’s of companies and businesses throughout the UK.
Hire Purchase (or Lease Purchase)
What is a Hire Purchase?
Hire purchase is a form of finance that can be used to buy new or used material handling equipment. You essentially hire the asset over the contract period and once the facility has been paid off, you are the legal owner of the asset. Payments and interest rates are generally both fixed, although prior arrangements can be made to add flexibility to repayments depending on your financial situation. Contact us for further information on our material handling equipment for hire.
Benefits of Hire Purchase
With Hire Purchase, you can spread the cost of your material handling equipment over a flexible 3 to 5-year period, making larger and more expensive assets more affordable for your business. You can select a fixed term and deposit that suits your budget, and once the final instalment and option-to-purchase fee are paid, the asset becomes yours. Hire Purchase agreements typically carry no tax charges, and in many cases, they can be settled early, giving you additional flexibility.
Things to be mindful of
Asset Depreciation
When financing material handling equipment, consider potential asset depreciation, which may affect resale value. Non-payment can harm credit ratings and may lead to repossession of the material handling equipment.
Contact Our Team
Finance Lease
This is a type of lease in which the finance company is typically the legal owner of the asset for the duration of the lease.
A Finance lease is a full-payout, non-cancellable agreement, in which the lessee is responsible for maintenance, taxes, and insurance.
While the lessee not only has operating control over the asset, they also have some share of the risks and returns from the increase/decrease in the valuation of the underlying asset. At the end of the primary lease period, the customer will have the option of either peppercorn renting the machinery for a further period, or selling the asset to an unconnected 3rd party and then keeping 95% of the sale proceeds. Vat is spread throughout the term of the agreement.
Benefits of Leasing
Finance Leases offer flexibility in terms of length of agreement, rental repayment profile and end of lease options.
Unlike making an outright purchase, you will retain cash within your business.
Effective financial planning. The lease repayment profile gives you confidence in being able to budget for the lifetime of the asset.
Tax advantages
Using the latest assets will ensure you remain competitive by keeping your costs low.
Fast turnaround times
You can look to upgrade the equipment with another lease.
Things to be mindful of:
The agreement is secured against the asset.
Non-payment could negatively affect the credit rating of the business and the guarantor.
You will not own the asset at the end of the lease.
All finance is subject to status and affordability checks. Terms and conditions apply.
All finance is subject to status and affordability checks. Terms and conditions apply.
EH Hassell & Sons Ltd are an Introducer Appointed Representative of First Capital Finance Limited, FRN:973989. First Capital Finance Limited is authorised and regulated by the Financial Conduct Authority, FRN: 679066. Authorised credit broker and lender. First Capital Finance work with a panel of lenders.
