An asset is more than a purchase price
Think about the job it needs to do, how long you expect to use it, the operating costs and the income or efficiency it may support. The purchase price is only one part of the decision.
An equipment loan and a lease can produce different ownership outcomes. Finance agreements also differ in their deposit requirements, repayment structure and end-of-term obligations.
Explore by the asset you need
A truck, a medical device and an agricultural machine require different preparation. Supplier information, age, condition, expected usage and a suitable loan term belong in the conversation. Use the asset pages below to prepare a more specific brief.
Make the end of the agreement part of the plan
- Will your business own the asset, and at what point?
- Is there a balloon or residual amount to deal with?
- What happens if you sell or replace the asset early?
- Who pays for maintenance, insurance and repairs?
- Will the equipment still meet your needs when the agreement ends?
What to prepare
- An itemised quote and supplier details
- Asset age, specifications and intended use
- Expected running costs and contribution
- A realistic repayment and replacement plan
Common questions
Is asset finance only for large machinery?
No. The broad category can include business vehicles and many types of equipment. Whether a specific asset is acceptable depends on the provider.
Does the financed asset act as security?
It often does under an equipment loan. Leasing and other structures have different ownership terms. Review the actual agreement.
General information only. Product terms and availability vary. Check the actual proposal and obtain advice appropriate to your circumstances.