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Bus and coach finance solutions

Our team of bus and coach specialists are experts at keeping businesses moving by providing finance solutions that fit a wide range of requirements, from small fleet owners to large-scale operators

4.44b

Number of local bus passenger journeys in England in 2017*

1.24b

Amount of miles passenger buses in England made in 2017*

3/5

Bus journeys account for three in every five public transport journeys**

Source 1 |  ** Source 2

According to the Department of Transport, each year Britons undertake billions of bus and coach trips, with bus journeys accounting for three in every five public transport journeys*

These figures confirm the extent to which this sector is a vital cog in the UK’s transport mix, and at Close Brothers Asset Finance we use our decades’ worth of experience to help businesses find the right funding solution to suit their situation. 

We work with you to find suitable ways of spreading the cost of investment in new vehicles, or release working capital from your current fleet and equipment. By fully explaining all your options – which may include Hire Purchase, Leasing or Refinance – we’ll help you identify the most appropriate route to acquire new assets or unlock the value of existing ones.

Unlike many of our competitors, we also deal with operator-to-operator sales.

*Source: Transport Statistics Great Britain 2017

Two busses

Contact us

Transport and logistics - South

Transport and logistics - South

  • 020 8339 4954
  • Wimbledon Bridge House, 1 Hartfield Road, London, SW19 3RU

Transport and logistics - Midlands and North

Transport and logistics - Midlands and North

  • 01283 742580
  • Suite B, First Floor, The Maltsters, Wetmore Road, Burton On Trent, Staffs, DE14 1LS

Scotland

Scotland

  • 01355 572370
  • 2nd Floor, Orbital House, 3 Redwood Crescent, East Kilbride, Glasgow, G74 5PR

Finance products we offer for the bus and coach industry

    Spread the cost over time 

    Hire Purchase enables you to acquire an asset while paying for it in installments over an agreed timescale – the term. At the end of the term, you have the option to purchase the asset outright.

    It lets you spread the cost of your investment over the life of the asset, making it easier to budget. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipment with a resell value.

    Benefits of Hire Purchase

    • More time to repay - Spread the cost over the life of the asset
    • Seasonality - We can structure repayments to take account of seasonal fluctuations in your cash flow
    • Keep control - You are the owner of the asset for tax purposes and can normally claim capital allowances
    • Tax efficient - You can offset your hire purchase interest and charges against pre-tax profits
    • Reclaim VAT

    What is Refinance?

    Refinancing (Capital Release) is a quick way to access the value of assets on your existing balance sheet and use that value elsewhere within your business – for example, to fund a deposit on new equipment or ease cash flow.

    Sale and HP Back is a form of refinance that can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to you. Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, you own the asset.

    This option applies whether you already own the asset or are using it under a finance deal with another provider.

    Benefits of Refinance / Capital Release

    • Efficiency - Uninterrupted use of the asset
    • Spread the cost further - We can take over the finance agreement you have with another provider and extend the term
    • Choice - Give your business a cash injection or use the money to buy other assets that may not be accessible through hire purchase or leasing agreements

    What is Finance Lease?

    Our Finance Lease arrangements let you use the equipment you need without having to buy it outright.

    You pay us rent for the full use of it. The rental period is flexible and can be tailored to your needs and cash flow. During this period, you will pay us the full cost of the asset, including interest. Then, when you reach the end of the primary lease term you can choose to:

    • Continue to use the asset by entering a secondary rental period
    • Sell the asset and keep a portion of the income from the sale
    • Return it to us

    Benefits of Finance Lease

    • Efficiency - Uninterrupted use of the asset
    • Spread the cost further - We can take over the finance agreement you have with another provider and extend the term
    • Choice - Give your business a cash injection or use the money to buy other assets that may not be accessible through hire purchase or leasing agreements

    What is Operating Lease?

    Similar to a Finance Lease, an Operating Lease allows you to rent the asset from us while you need it. The key difference between the two is that an Operating Lease is only for part of the asset’s useful life. This means you pay a reduced rental because the cost is based on the difference between the asset’s original purchase price and its residual value at the end of the agreement.

    You get full use of the asset for as long as you need it, without the burden of responsibility of disposing of it or recouping its residual value.

    Benefits of Operating Lease

    • Low initial outlay - Quick access to the asset you need without a heavy upfront investment
    • Freedom - Full use of the asset without having to buy it outright
    • Flexibility - Option to re-rent, purchase or return the asset at the end of the term
    • Pay less - Rental cost is reduced as it is based on a percentage of the original capital cost
    • Off balance sheet funding
    • Reduce costs - Reclaim VAT on rentals