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More Information on finance...

Asset Finance

Hire Purchase

This is finance which can be used to purchase various types of tangible assets including but not limited to; plant and machinery, computer equipment, motor vehicles, and office furniture.  A hire purchase agreement is entered for a specific a period of time, for example 3 years, over the 3 years you will make interest and capital repayments, in the final month once all payments have been made the ownership of the asset is transferred from the finance company to you.  Once you own the asset you are to free to sell the goods without accounting to the finance company or alternatively you can enter into another hire purchase agreement whereby you sell the asset back to a finance company to free up the equity.

Lease Finance

This is where a leasing company retains ownership of the assets and at the end of the hire period, the asset is returned.  The most common example of lease finance relates to financing motor vehicles.

Asset Refinance

In short this is financing the assets that are already owned by the company, in order to free up any available equity.  This can then be secured by fixed and floating charge debenture.

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