Here are some of the financing options you might want to consider and a brief description of how they work:

Commonly associated with vehicles but also available on a variety of other assets, Contract Hire is a form of operating lease and offers a complete solution to sourcing, finance, management and ultimate disposal of your asset. You can even arrange for maintenance to be included within the agreement. Contract hire saves your business time and the one regular payment makes budgeting easy.

Contract purchase offers all the ownership advantages of hire purchase but with added flexibility. A guaranteed value for the asset at the end of the agreement means that regular repayments are reduced. At the end of the term you can decide whether to keep the asset and pay off any balance, sell it and settle the outstanding balance (retaining any profit) or simply return it with nothing more to pay.

Finance leasing allows you to rent the asset rather than buy it. Normally, rentals will be calculated over an agreed term, at the end of which, The Finance Company will have recovered its outlay in purchasing the asset on your behalf. While you can never own the asset yourself, The Finance Company will normally allow you to benefit from the majority of the sales proceeds at the end of the term. The rentals can be offset against your profits while The Finance Company retains the right to any capital allowances.

An Operating Lease is particularly effective for high value, specialised equipment or for assets needed to support a specific contract. Rentals will be based on the value of the asset over the period you require it and as a result can be linked directly to the revenue the asset generates. Unlike a finance lease, rentals will not recover the full cost of the asset but The Finance Company protects you from this risk by guaranteeing a residual value at the end of the term. You can generally deduct the full cost of the lease rentals from profits and the asset won't appear on your balance sheet.

Hire purchase, also sometimes known as lease purchase, is a popular choice that gives you ultimate ownership of the asset through payment by regular installments. Payments can be structured to fit with your cash flow needs. For example, regular payments can be reduced by including a final lump sum payment (sometimes known as a 'balloon' payment) which reflects the assumed value of the asset at the end of the agreement. Your business can claim the available capital allowances and offset the interest charges against trading profit.

Funding is provided through CPL Finance (Part of the Leden Group Ltd), Lombard and Custom Fleet.