What is asset finance?
What Types Of Asset Finance Can Be Used To Buy A Truck?
There are a number of asset finance options available to help give SMEs maximum flexibility when it comes to growing their fleet and you can access all of these finance types through the Capitalise comparison platform.
Finance Lease | Avoid the burden of a sizeable, up front VAT payment on your new truck by taking out a finance lease. You'll typically pay a fixed monthly fee and, at the end of the agreement, can either choose to continue renting the vehicle or instruct your lender to sell it in order to reclaim a rebate on some of your rental costs.
Hire Purchase | Make fixed or variable monthly repayments to your lender who will continue to own the truck until the outstanding balance has been repaid. As soon as your final instalment has been made, full ownership of the vehicle will be transferred to you, adding another sizeable asset to your business and its balance sheet.
Contract Hire | Keep the initial outlay of your new truck purchase to a minimum by arranging a contract hire agreement with one of our lenders. You can choose to either spread the entire value of the truck over your contract, or reduce your monthly outgoings with a pre-agreed balloon payment made at the end of the term.