In partnership with
We’ve partnered with TAFCO to provide you with a quick estimate of your monthly payments using this asset finance calculator. Whether you’re looking to invest in new equipment, vehicles, or other business assets, see how flexible financing can work for you.
Asset finance is a form of lending that allows businesses to access the equipment, machinery, vehicles, or technology they need to grow and operate, while spreading the cost over time. Rather than purchasing the asset outright, businesses can either lease the equipment or finance its purchase through a loan.
Once the lease term is over or the loan is paid off, ownership may transfer to the business, depending on the type of asset finance arrangement.
Hire Purchase (HP) is a financing option that can help you manage the cost of an asset over a specified period of time. With HP, you can select the equipment you need, and one of our lenders will purchase the asset on your behalf.
This way, you can spread the cost of the asset over a fixed payment plan that suits your budget and cash flow requirements. After the agreed-upon timeframe, you’ll have the option to take ownership of the asset by paying a nominal fee.
This makes HP a great option for businesses or individuals who need an asset but don’t want to pay the full cost upfront.
If you want to maximise the use of your equipment without the responsibility of owning it, a finance lease gives you the freedom and flexibility you may need.
Choosing this product keeps your upfront costs low and allows you to reclaim VAT on each monthly rental. Each monthly rentals counts as an expense rather than an owned asset on a balance sheet.
Refinancing in asset financing refers to the process of replacing an existing loan or financing arrangement with a new loan, typically with more favourable terms or conditions.
This can involve obtaining a new loan from the same lender or transferring the debt to a different lender. By considering your options for refinancing, you may be able to obtain a new agreement with a lower interest rate.
You may also want to release equity from your existing assets to gain access to cashflow.
Invoice financing, also known as accounts receivable financing or invoice factoring, is a financial arrangement where your business sells its accounts receivable (invoices) to a lender, at a discount. This allows your business to receive immediate cash flow instead of waiting for customers to pay their invoices.
Invoice financing is particularly useful for businesses with long payment terms or seasonal cash flow fluctuations. Invoice financing provides businesses with a convenient and accessible way to manage cash flow and access working capital, enabling them to focus on growing their operations and serving their customers.
With years of experience and a commitment to customer satisfaction, TAFCO is your trusted partner for asset refinancing solutions. And, with over 40 years of experience, Thompson Wright is helping businesses, SMEs, organisations, and individuals like you make financial decisions that benefit your business.
Working together, Thompson Wright & TAFCO offer an honest and friendly service to companies who are in need of asset finance solutions. Not only that, we also have one of the lowest margin requirements in the broker industry, meaning you get a better rate.
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Asset finance is a financial solution that allows businesses to acquire assets such as machinery, vehicles, technology equipment, and more without paying the full purchase price upfront. Instead, the assets are financed through loans, leases, or other arrangements, with repayments spread over time.
A wide range of assets can be financed, including but not limited to vehicles, manufacturing equipment, office furniture, IT infrastructure and agricultural machinery.
The main types of asset finance include hire purchase, finance lease, operating lease, and asset refinancing. Each type offers different benefits and structures, catering to various business needs and financial situations.
Lenders typically consider factors such as your business’s creditworthiness, financial stability, the value and condition of the assets being financed, and your ability to repay the finance. Each lender may have specific criteria they use to assess applications.
The approval process for asset finance can vary depending on the lender, the complexity of the application, and the type of assets being financed. It may take anywhere from a few days to a few weeks to receive approval.