Asset Finance
The simple and speedy way to get the equipment your business needs.
Asset finance enables businesses to obtain machinery, vehicles, or IT equipment without large upfront payments. By spreading costs through leasing or hire purchase, companies maintain cash flow while accessing the assets needed for growth.
This flexible solution supports businesses of all sizes, offering tax advantages, flexible payment plans, and the ability to unlock working capital through asset refinancing. SMEs can scale, invest in key resources, and stay competitive without compromising cash flow.
Benefits
- Fast funding in up to one working day
- Facility sizes between £5k and £1.5M
- Hire purchase, leasing and refinance options
- Fixed repayments
- Your own relationship manager
Key Terms
- Borrow between £5k and £1.5M
- 12-60 month terms
- VAT deferral available
- Annual service fee
Eligibility Requirements
- Trading for 3 years or longer
- Assets used for business purposes
- Minimum of 10% deposit
We make it effortless
Types of Asset Finance
Hire Purchase
Hire Purchase is a product which allows businesses to obtain use of an asset whilst spreading the cost over an agreed term. The business will make fixed periodic repayments over the agreed period, and once you’ve made all of these the repayments, you can choose to purchase the asset at the end of the agreement for a nominal “option to purchase” fee. Once this fee is paid, the asset is then owned by you outright.
Finance Lease
A Finance Lease allows a business to obtain use of an asset, with the cost being spread across a defined period with a fixed periodic repayment. Ownership of the asset remains with the finance company and doesn’t typically allow a business to acquire the asset at the end of the agreement, however ongoing usage of the asset after the end of the initial agreement term is typically possible in return for payment of a nominal periodic fee.
Asset Refinance
Asset Refinance allows a business to unlock crucial working capital tied up in an existing asset by selling the asset to a finance company, who then leases it back to the business for continued use. This can typically be achieved by way of either (i) Sale and Hire Purchase back or, (ii) Sale and Lease back.
Frequently Asked Questions
What is asset finance?
Asset finance is a flexible solution that allows businesses to acquire the equipment or assets they need without the need for upfront payment. The cost of the asset is spread over an agreed period, with the business repaying it in installments.
White Oak UK offers three main types of asset finance: finance lease, hire purchase, and refinance products.
What are the benefits of asset finance?
Asset finance provides several key benefits for businesses. It helps preserve cash flow by spreading the cost of an asset over an agreed period, avoiding a large upfront payment and freeing up funds for other needs. With finance leases, even VAT is spread across the term rather than being paid upfront.
Fixed periodic repayments enable effective budgeting, with no unexpected costs. In hire purchase agreements, businesses gain ownership of the asset once all repayments and fees are made. For finance leases, businesses can either return the asset or continue using it for a nominal fee after the initial term.
Asset refinance allows businesses to unlock capital tied up in existing assets, providing funds for growth while continuing to use the asset. Hire purchase agreements may also offer tax advantages, such as claiming capital allowances, though independent tax advice is recommended.
What types of equipment can White Oak UK provide asset finance for?
As a trusted lender, we have the expertise to fund commercial assets of all sizes across various sectors. Our main asset list includes:
- Plant and Machinery
- Construction Vehicles and Equipment
- Cars, Vans, and LCVs
- Transportation, Buses, and Coaches
- Waste Management and Recycling Equipment
- Machine Tools
- Materials Handling Equipment
- Production and Manufacturing Equipment
- Garage Equipment
- Crushers and Screeners
- Biomass Energy
- Taxis
- Printing and Tailoring
- Equipment
- Broadcast and Media Equipment
- Medical Equipment
- Modular Buildings and Caravans
- Air Conditioning
- Furniture and Vending Machines
- Gym and Beauty Equipment
- Technology and Telephony Equipment
- Security Systems
Who can use White Oak UK’s asset finance solutions?
At White Oak UK, we offer tailored asset finance solutions for established businesses, including SMEs, large corporations, and legal firms. Whether you’re in manufacturing, healthcare, construction, agriculture, retail, or legal services, we can help you acquire essential equipment, vehicles, or machinery without the need for a large upfront payment. Our flexible payment options support businesses in managing cash flow while driving growth and expansion.
What should you consider when using asset finance?
There are several considerations to assess in order to determine if asset finance is suitable for your business. You won’t own the asset until all repayments are made, so ensure the term suits your expected usage. You must also maintain and insure the asset throughout the agreement. If you sell or return the asset early, you’ll still need to pay off any remaining balance.
The total cost includes interest, charges, and fees, which vary based on your credit history and the asset’s condition. If you fail to make repayments, the asset can be repossessed, and you’ll remain liable for the remaining debt.
With hire purchase, ownership transfers after all payments are made. In a finance lease, there’s no option to purchase the asset, and for asset refinance, ensure the asset’s value meets your expectations.
“Asset finance is a great way for businesses to spread the cost of an asset over a fixed term without sacrificing cash flow. We have different contract types that support customers who wish to obtain ownership of an asset, as well as those who like to regularly upgrade their assets.”
Clarice Daykin
Direct Lending Consultant
Customer Stories
When a logistics firm needed a simple and speedy way to invest in their assets, we made it possible.
Here to help if you need us
Contact our UK-based team if you have any questions
