Our team of engineering finance specialists work with businesses across the UK to provide much-needed funding for new and used engineering equipment. Our experts understand how vital it is that you have the right equipment, so whether you are looking to expand your range of equipment or replace it, we can help.
Contact us today: 01244 458994Make an enquiry
The outlook for the sector is positive. The European engineering industry has been set the ambitious goal of increasing output to more than 20% of the GDP by 2020. There are many UK firms with the capability and determination to rise to this challenge, but generating this growth will require investment. Worn out or obsolete assets will need to be replaced with those that improve productivity and cost effectiveness.
We’re here to help. At Close Brothers Asset Finance our specialists have in-depth knowledge of the engineering industry and extensive experience of delivering funding for the assets it needs. We’ll work with you to find an affordable way to spread the cost of the equipment and machinery you need, through a tailored hire purchase, lease or refinance package.
From £5,000 to £5 million+, we provide funding solutions for a comprehensive range of engineering assets.
01244 853459
Industrial Equipment
Unit D Telford Court, Chester Gates,
Dunkirk,
Nr Chester CH1 6LT
Hire Purchase - Spread the cost over time
Hire Purchase enables you to acquire an asset while paying for it in instalments over an agreed timescale – the term. At the end of the term, you have the option to purchase the asset outright.
Hire Purchase 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
Refinancing - When you need a cash injection
Refinancing is a quick way to access the value of assets on your existing balance sheet and redeploy that value elsewhere within your business – for example, to fund a deposit on new equipment or unlock some working capital to 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 Refinancing
Finance Lease - User benefits without the ties of ownership
Our Finance Lease arrangement lets 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 (the primary lease term) is flexible and can be tailored to your usage 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:
Benefits of Finance Lease
Operating Lease - Keep your options open
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
