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Tell NBS Finance about the asset, seller, price, deposit and business.
Asset finance
Asset finance for UK limited companies
Direct answer: asset finance can help a business acquire an identifiable vehicle, machine or item of equipment without paying the full price at the outset. The agreement, asset and business are assessed by the finance provider.
NBS Finance primarily supports UK limited companies as a commercial finance broker and introducer, not a lender. NBS does not charge the client a separate broker fee. A provider decides whether to offer finance and sets the rate, charges, fees, security and terms.
Is asset finance a useful starting point?
| Business need | Examples | Useful information |
|---|---|---|
| Buy a vehicle | Truck, trailer, van or specialist vehicle | Vehicle, seller, price, age, mileage and deposit |
| Buy plant or machinery | Construction, manufacturing or engineering equipment | Quotation, specification, condition and intended use |
| Buy other equipment | Durable, identifiable assets used by the business | Supplier, price, VAT and business purpose |
| Use an asset already owned | Vehicle, plant or machinery with available value | This may be an asset refinance enquiry instead |
The asset normally needs a clear identity, commercial purpose and acceptable source. New and used assets may be considered, but age, condition, useful life and seller can affect the available route.
Hire purchase and finance lease at a glance
| Point | Hire purchase | Finance lease |
|---|---|---|
| During the term | The provider owns the asset while the business makes agreed payments. | The provider owns the asset and the business pays to use it. |
| At the end | Ownership may pass after all payments and any stated purchase fee. | Use or disposal options depend on the agreement; ownership does not normally pass automatically. |
| Initial payment | A deposit or larger first payment may be required. | An initial rental may be required. |
Accounting and tax treatment depend on the business and agreement. Take appropriate professional advice and read the provider’s documents before proceeding.
How the enquiry progresses
Discuss the details
NBS Finance reviews the information and asks about anything needed to understand the proposal.
Provider assessment
Where an appropriate route is identified, a provider completes its checks and decides whether to make an offer.
Top 10 questions
Asset finance questions, answered clearly
01 · What is asset finance?
Asset finance can help a business acquire or use an identifiable vehicle, machine or item of equipment without paying the full price at the outset. The provider normally retains ownership or security rights during the agreement and assesses the asset, transaction and business.
02 · What business assets can be financed?
Current NBS Finance routes can cover commercial vehicles, trailers, plant, machinery, manufacturing equipment, technology and many other hard and soft business assets. Asset-finance limits vary by provider and requirement. NBS Finance can discuss larger asset purchases and explore available routes, but availability is subject to provider appetite and assessment. The asset still needs an acceptable value, age, condition, useful life, seller and genuine business purpose.
03 · What is the difference between hire purchase and a finance lease?
Hire purchase is generally used when the business intends to own the asset after making all payments and any stated purchase fee. With a finance lease, the provider owns the asset and the business pays to use it; end-of-term use or disposal options depend on the agreement.
04 · Will my business own the asset at the end?
With hire purchase, ownership normally passes after every required payment and the stated option-to-purchase fee. With a finance lease, the provider remains the legal owner and the agreement sets the end-of-term continuation, sale or return options. Check the written product name and end-of-term terms before signing.
05 · Can a second-hand asset or private-sale asset be financed?
Yes, used and private-sale assets can be financed when the asset and seller pass the provider's checks. Expect additional evidence of age, condition, market value, ownership, seller identity and remaining useful life. Obtain provider acceptance before paying a non-refundable deposit or committing to the purchase.
06 · How much deposit is needed for asset finance?
A deposit is not always required: some current routes can finance the full eligible asset price. Other agreements require a deposit, advance rental or larger first payment, and VAT can be payable separately. Tell NBS Finance the contribution available and compare the complete payment schedule rather than assuming a fixed percentage.
07 · Can VAT be included in asset finance?
VAT treatment depends on the asset, product, provider and the business's VAT position. Some agreements may require VAT at or near the outset while others operate differently. Ask the provider for the payment schedule and take accounting or tax advice for your circumstances.
08 · Can a start-up or business with adverse credit obtain asset finance?
Yes, some providers consider start-ups and businesses with adverse credit. Relevant industry experience, contracts, forecasts, cash contribution and a durable asset can strengthen the case, while deposit, pricing and security requirements can be higher. The provider still decides affordability and approval.
09 · What documents are needed and how long does asset finance take?
Start with the supplier quotation, asset and seller details, intended use, business details and available deposit. Providers can also request bank statements, accounts and identification. Timing varies by provider and proposal; used assets, private sellers, valuations, missing documents and complex credit can take longer. Only the provider’s written confirmation establishes a reliable decision or funding date.
10 · Can I refinance an asset the business already owns?
Yes. Assets owned outright—and some assets with finance still outstanding—can be refinanced. The provider checks ownership, settlement balance, condition, valuation and useful life, then calculates the equity available. Compare the cash released with the settlement amount, fees and total future payments. See asset refinance.
Prepare once
Get the useful information together
The document guide explains what to collect for the asset, transaction, business and relevant people.
Tell us about the asset
Start with the asset, price and business details you already have.