Asset Finance

In short

Capito arranges Asset Finance for UK businesses: hire purchase, leasing and refinance of assets you already own. Lenders fund vehicles, plant, machinery, technology and some soft assets, and will look at older equipment too. Facilities start from over £25,000, usually over terms of up to 5 years.

Facility size

Over £25,000 to £10m+

Terms

Usually up to 5 years

Assets

Vehicles, plant, machinery, tech, soft assets

Older assets

Considered, case by case

Refinance

Release cash from equipment you own

Deposit

Depends on the asset

Tracked excavator on a construction site at sunset, the kind of plant funded through asset finance

What is asset finance?

Asset finance spreads the cost of equipment over monthly payments, so your business doesn't have to find the full price up front; the lender either buys the asset or takes security over it. With hire purchase you own the asset at the end, with leasing you use it for an agreed period, and if you already own equipment outright you can borrow against it instead.

Hire purchase, leasing or refinance?

 
Hire purchase
Leasing
Asset refinance
What it does
Spreads the cost of buying an asset
Lets you use an asset for an agreed period
Releases cash from an asset you already own
Do you own it at the end?
Yes, once the final payment is made
Usually not
You keep using it; the lender has security until it's repaid
Usually suits
Assets you want to keep for their working life
Assets you'll replace or upgrade
Raising working capital without selling equipment
Check my eligibility →

What can you finance?

Vehicles: vans, HGVs, cars and fleets

Plant and construction equipment: diggers, cranes, telehandlers and access platforms

Machinery: manufacturing, engineering, agricultural and printing equipment

Technology: laptops and servers, telecoms and EPOS systems

Soft assets: software and shop fit-outs

Soft assets have little resale value, so lenders may ask for a larger deposit or offer shorter terms. Lenders will look at older or used equipment too, judging it mainly on its age and how easily it would sell.

Can you raise cash against equipment you already own?

Yes. Asset refinance lets a lender take security over equipment your business owns outright, or has nearly paid off, and lend against its value. The cash can go towards working capital or a tax bill, and you keep using the asset as normal. How much you can raise depends on the asset's value and resale market.

GuideHow to fund a VAT or corporation tax billRead →

Do you need a deposit?

It depends on the asset. Lenders set the deposit by how easily the asset could be resold and how long it holds its value, so vehicles and mainstream plant often need less than specialist machinery or soft assets.

Who can get asset finance?

Limited companies, LLPs, partnerships and sole traders, for facilities over £25,000. Lenders look at your trading history, accounts, credit record and the asset itself. Start-ups can sometimes get asset finance because the asset provides security, though terms may be tighter.

Asset finance of £25,000 or less to sole traders and small partnerships is regulated, so we only arrange facilities over £25,000.

What does asset finance cost?

You repay the amount financed plus interest in fixed monthly payments, and some lenders add documentation or option-to-purchase fees on top. Your rate depends on the asset, the term, the deposit and your business's finances; we'll show you every cost before you go ahead. Rates and fees vary by lender and case.

Asset finance FAQs

What's the minimum I can borrow?

We arrange asset finance over £25,000.

How long can I spread the cost over?

Usually up to 5 years, depending on the asset and the lender.

Can I finance a used or older asset?

Often, yes, although lenders will look closely at its age and resale value and may offer a shorter term on older kit.

Can I raise money against equipment I already own?

Yes, through asset refinance. A lender takes security over the equipment and lends against its value, and you keep using it.

Do I need a deposit?

It depends on the asset. Some need little or none; others, such as specialist machinery or soft assets, may need more.

Is asset finance the same as leasing or hire purchase?

It's the umbrella term: hire purchase and leasing are two types of asset finance, and asset refinance is a third.

Will enquiring affect my credit score?

No: we don't run a credit check when you enquire, and a lender only runs one if you decide to apply.

How are you paid?

Usually by the lender, as a commission when your finance completes, and in some cases there's a broker fee too; either way, we'll tell you about it before you go ahead.

Check asset finance eligibility

A few details and we'll match you with suitable lenders. No credit check until you choose one.

Step 1
Takes about 90 seconds

Questions? Email hello@capito.finance

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No obligation. We're a broker, not a lender, and may receive commission from lenders.

Finance is subject to status and lender criteria.

Capito Finance Limited is a Commercial Finance Broker, not a lender. We aren't regulated by the Financial Conduct Authority and only arrange business finance over £25,000. Approval isn't guaranteed.