Finance Lease allows a business to operate an asset and spread the cost of that asset and the 20% vat cost over an agreed term of 24 to 84 months. Ownership typically remains with the finance company but the asset is shown on the operator’s balance sheet with the added benefit of tax allowances to reduce corporation tax.
This facility allows businesses to acquire critical operating assets with ever increasing capital costs and budget effectively with fixed repayments.
Deposits start from 1 month with 20% vat added to each rental. A balloon payment can be considered at the end of the lease agreement to reduce the monthly cost.
Finance Lease allows a business to keep their cash in the bank rather than tied up in assets.
Other types of Asset Finance
Morse Business Finance can provide a number of funding solutions.
Hire
Purchase
Spread the asset cost over an agreed period, gaining full ownership at the end of the agreement.
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Finance
Lease
Spread the asset cost and vat over an agreed period, with ownership typically remaining with the finance company.
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Operating Lease
Spread the asset cost over an agreed period with repayments substantially lower than hire purchase or finance lease. Ownership remains with the finance company.
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Sale & Hire
Purchase Back
Allows a business to sell an asset purchased within 90 days back to the finance company and then spread the original asset cost over an agreed term.
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Refinance
A way to release capital on assets already owned by a business by selling them to the finance company and spreading the valuation cost over an agreed term.
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VAT
Loans
Defer the VAT on asset purchases for up to 4 months on hire purchase or spread the vat over the agreed repayment term on a finance lease / operating lease.
Commercial
Loans
Spread the cost of non-asset related purchases over an agreed term, eg expansion, acquisition, fit-outs, IT upgrades.
Growth Guarantee
Scheme Loans
Available for asset purchases with a 70% government guarantee and spread the cost over an agreed term. Conditions apply.
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