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Unlock Growth and Efficiency: 6 Reasons to choose Asset Finance

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Asset finance is quickly becoming the funding method of choice for businesses across the UK.

With numerous finance options available, including hire purchase, finance lease, refinance and operating lease, to name a few, asset finance is a great way to support business growth, in a tailored and competitive way. The Finance and Leasing Association (FLA) reported that total asset finance new business grew in June 2023 by 18% year on year, with car finance and commercial vehicle finance sectors seeing an 89% and 23% increase in new business, compared with the same period in June 2022.

Below, we explore the many benefits of opting for asset finance, compared to an outright purchase:

1. Preserve Cash Flow:

Instead of making a substantial upfront payment, asset finance enables you to spread the cost, meaning your working capital remains intact for other vital expenditures like staff salaries, marketing initiatives, or unforeseen emergencies.

2. Stay Technologically Relevant:

In today's rapidly evolving business landscape, staying ahead in terms of technology is crucial. Whether you're a construction company in need of advanced machinery or a print studio looking to upgrade your machinery, asset finance ensures you have access to the latest equipment without getting bogged down by outdated resources.

3. No Depreciation Worries:

Certain assets, like vehicles or technology, tend to depreciate quickly. Opting for asset finance means you won't be left grappling with the eventual decline in value. Once the finance term is up, you can simply upgrade to newer, more efficient equipment without worrying about liquidating depreciated assets.

4. Rapid Access to Equipment:

Time is of the essence in the business world. Opting for asset finance allows you to acquire essential equipment quickly, enabling you to take on new projects, fulfil orders promptly, or seize emerging opportunities without delay.

5. Diverse Industry Applications:

From manufacturing to healthcare, hospitality to agriculture, asset finance has found a home in a multitude of industries. The flexible nature of these solutions means that businesses of all sizes and sectors can benefit from the advantages asset finance brings to the table.

6. Simplified Budgeting:

Predictability is vital for effective financial planning. With fixed monthly payments, asset finance empowers you to create precise budgets that help you manage your resources more efficiently.

We’re one of the UK’s leading providers of asset finance to UK businesses. With a wealth of industry knowledge and expertise and an extensive funding panel including some of the newer challenger banks and niche funders, we deliver creative and competitive funding solutions that help you grow your business. Since 2008, we’ve arranged over £1 billion in funding for over 2,500 customers.

So, whether you're a start-up aiming to establish your presence or an established player seeking to amplify your capabilities, get in touch to find out how we could support you

Premier Asset Finance Limited is authorised and regulated as a credit broker (including for consumer credit activity) and not as a lender, by the Financial Conduct Authority. Registered in England, number 06453431. Registered office: 51 Homer Road, Solihull, West Midlands B91 3QJ. Premier Asset Finance Ltd is registered on the Financial Services Register under the Firm Reference Number 728589.

We are not an independent financial advisor, but we can introduce you to a panel of lenders and their finance products. We will provide details of products available from the lenders we work with without advice or recommendation, and it is for you to decide whether the finance product is right for you. We do not charge you a fee for our services, however we do receive a commission from the lender if you decide to enter into an agreement with them (either a fixed fee or fixed percentage of the amount you borrow) and different lenders pay different rates. Premier Asset Finance is a wholly owned subsidiary of Paragon Bank Plc.