Question 1

What is asset finance?

Accepted Answer

Asset finance can help a business fund or use a physical asset — such as vehicles, machinery or equipment — through an agreed payment structure. The available products, payment profile, ownership terms and eligibility depend on the proposed agreement and circumstances.

Question 2

How much can I borrow?

Accepted Answer

Potential facility size depends on the asset, business information, provider criteria and proposed agreement. Any available amount is confirmed only in a formal proposal.

Question 3

What's the difference between hire purchase and leasing?

Accepted Answer

Hire purchase and leasing can have different payment, VAT, ownership, accounting, tax and end-of-term features. The detail depends on the agreement and asset, so review the documents and speak to an accountant or tax adviser where relevant.

Question 4

Will applying affect my credit score?

Accepted Answer

A calculator or readiness tool does not carry out a credit search. Where a search may be needed as part of an application, we explain the process before proceeding.

Question 5

Can I get asset finance as a startup?

Accepted Answer

A startup may be considered for asset finance, but provider appetite, deposit, guarantee, documentation and pricing depend on the asset, director and business circumstances. An enquiry does not confirm approval.

Question 6

What if I have adverse credit (CCJ, default)?

Accepted Answer

Adverse-credit history can affect availability, price, deposit, term and security requirements. Providers assess the complete proposal, including the asset, business information and credit context.

Question 7

Do I need to provide accounts?

Accepted Answer

Document requirements depend on the asset, proposed facility, provider and business circumstances. They may include accounts, management information, bank statements, asset quotations and identity evidence.

Question 8

Will I need a personal guarantee?

Accepted Answer

A personal guarantee may be requested depending on the provider, asset, proposed facility and business circumstances. Any guarantee terms should be explained in the provider’s documentation before you decide whether to proceed.

Question 9

What rates do you offer?

Accepted Answer

Indicative APR guides are published separately and reviewed on a stated date. Customer rates, fees, deposits and terms depend on the asset, provider, agreement and customer circumstances; a formal offer is issued in writing.

Question 10

Are there any broker fees?

Accepted Answer

AssetFi will receive commission from a finance provider if a customer enters into a finance agreement. The commission arrangement and material agreement terms are explained before you decide whether to proceed.

Question 11

What about VAT — do I pay it upfront?

Accepted Answer

VAT timing and recovery depend on the agreement, asset and your VAT position. Review the proposed documentation and confirm the treatment with your accountant or tax adviser.

Question 12

Can I settle early?

Accepted Answer

Early-settlement rights and figures depend on the agreement and provider. Request a written settlement figure and review the relevant terms before taking action.

Question 13

How quickly can I get funded?

Accepted Answer

Timing depends on the asset, supplier, documents, provider requirements and proposed agreement. We explain expected next steps as an enquiry progresses.

Question 14

What documents will I need?

Accepted Answer

Documents depend on the asset, provider and proposal. They may include business accounts, management information, bank statements, asset quotations, identification and other supporting information.

Question 15

Do I deal with you or the lender?

Accepted Answer

AssetFi can support the enquiry process and explain the provider documentation. A finance agreement, if offered, is issued by the relevant provider and should be reviewed before you decide whether to proceed.

Question 16

What happens after the term ends?

Accepted Answer

End-of-term options, ownership transfer, return, renewal, settlement and sale provisions depend on the proposed agreement. Review the agreement and ask the provider or your adviser to explain any option before proceeding.

Honest answers. No sales pitch.

The basics

Eligibility

Costs & rates

Process