Need an asset without paying the full purchase price upfront? FI Collective helps you explore finance options for eligible vehicles, equipment and other business assets.
The appropriate arrangement depends on the asset, how it will be used and your business circumstances. Consider the total cost, ownership arrangements, fees and any amount payable at the end of the term.
We’ll explain suitable options from our panel and help you understand the application requirements. Your accountant can advise on the tax treatment of the proposed arrangement.
Discuss the asset, intended use and purchase timing.
Compare suitable finance structures and repayments.
Explain documents and steps needed to proceed.
Asset finance can help your business access what it needs while spreading the cost over time. When comparing options, consider how long you expect to use the asset, its running costs and when it may need replacing.
The finance term, deposit and any final payment can affect both your regular repayments and overall cost. Ownership arrangements also vary between products, so it’s important to understand your obligations throughout the agreement and at its end.
FI Collective helps you explore suitable options through our lender panel, taking your business needs and cash flow into account. We explain the proposed structure so you can plan your purchase with confidence.
Asset finance is the broader term, covering chattel mortgages, hire purchase and leases. The main difference is who owns the asset during the term and what happens at the end of it. We will walk you through which structure suits how you intend to use, and eventually replace, the asset.
Yes, many lenders fund used equipment and vehicles. Age, condition and asset type affect which lenders will consider it and the terms available. Send us the details of what you are buying and we will tell you where it fits.
Some lenders may finance the full purchase price of an eligible asset, while others may require an upfront contribution. This depends on the asset, finance product and your business’s financial position. Paying a deposit reduces the amount financed, but it’s also worth considering how that payment would affect your available working capital.
It may be possible, but you’ll need to check your agreement and arrange any required payout or lender consent first. Early termination costs may apply, and the sale or trade-in value may not cover the amount owing. If the asset is leased, you may not own it, so discuss the available options with the finance provider before arranging a sale.
Not sure where to start? Tell us what you’re planning, and our team will help you understand your finance options and what comes next.
