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Close Brothers Asset Finance

Asset Finance

Hire Purchase - Spread the cost over time

Hire Purchase enables you to acquire an asset while paying for it in instalments over an agreed timescale the term. At the end of the term, you have the option to purchase the asset outright.

Far more flexible than a conventional loan, Hire Purchase lets you spread the cost of your investment over the life of the asset, making it easier to budget. Hire Purchase is particularly suitable for acquiring vehicles, machinery, construction and commercial equipment with a resell value.

Refinancing - When you need a cash injection

Refinancing is a quick way to access the value of assets on your existing balance sheet and redeploy that value elsewhere within your business for example, to fund a deposit on new equipment or unlock some working capital to ease cash flow.

Sale and HP Back is a form of refinance that can be used against most types of equipment, making it suitable for companies of all sizes, including sole traders. It works by us purchasing the asset and financing it back to you. Repayments are calculated in line with the income stream that will be generated by the asset and at the end of the refinance term, you own the asset.

This option applies whether you already own the asset or are using it under a finance deal with another provider.

Finance Lease - User benefits without the ties of ownership

Our Finance Lease arrangement lets you use the equipment you need without having to buy it outright. You pay us rent for the full use of it. The rental period (the primary lease term) is flexible and can be tailored to your usage needs and cash flow.

During this period, you will pay us the full cost of the asset, including interest.

Then, when you reach the end of the primary lease term you can choose to:continue to use the asset by entering a secondary rental periodsell the asset and keep a portion of the income from the salereturn it to us

Operating Lease - Keep your options open

Similar to a Finance Lease, an Operating Lease allows you to rent the asset from us while you need it. The key difference between the two is that an Operating Lease is only for part of the asset's useful life.

This means you pay a reduced rental because the cost is based on the difference between the asset's original purchase price and its residual value at the end of the agreement.

You get full use of the asset for as long as you need it, without the burden of responsibility of disposing of it or recouping its residual value.

Close Brothers Asset Finance

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A deeper dive into

Common questions asked about

1. What types of assets can be financed through Close Asset Finance?

Close Asset Finance offers financing solutions for a wide range of assets, including vehicles, machinery, equipment, technology, and even intangible assets like software. Whether you need to finance a fleet of vehicles for your business or acquire new machinery for your manufacturing operations, Close Asset Finance can provide tailored financing options to suit your needs.

2. How does the application process work?

The application process with Close Asset Finance is straightforward and efficient. After submitting an initial enquiry, a dedicated account manager will guide you through the process. They will assess your requirements, financial situation, and creditworthiness to determine the most suitable financing options for you. Once approved, the necessary paperwork will be prepared, and funds can be released promptly, allowing you to acquire the assets you need without delay.

3. What are the repayment terms offered by Close Asset Finance?

Close Asset Finance offers flexible repayment terms tailored to meet your specific needs. The repayment period can range from 12 months to several years, depending on the asset being financed and your financial circumstances. Additionally, Close Asset Finance provides various repayment options, including fixed monthly payments or balloon payments at the end of the term. These options allow you to manage your cash flow effectively and align repayments with your business's revenue generation.

4. Can Close Asset Finance assist with asset refinancing?

Yes, Close Asset Finance offers asset refinancing solutions. If you already own assets that are unencumbered or have existing finance agreements, you can release the equity tied up in those assets to generate working capital for your business. Asset refinancing can be a cost-effective way to access funds without the need for additional collateral, enabling you to invest in other areas of your business or address cash flow challenges.

5. What are the benefits of choosing Close Asset Finance?

Close Asset Finance has a strong reputation for providing flexible and tailored financing solutions to businesses of all sizes. By choosing Close Asset Finance, you can benefit from competitive interest rates, quick and efficient application processes, and personalized customer service. Their team of experienced professionals understands the unique challenges faced by businesses and can provide expert advice and support throughout the financing journey. With Close Asset Finance, you can access the assets you need to grow and thrive while maintaining control over your cash flow.

Some reasons to choose

Wide Range of Products

This company offers a wide range of products, catering to various needs and preferences. Whether you are looking for electronics, home appliances, or fashion items, they have it all. With such a diverse selection, customers can easily find what they are looking for without having to visit multiple stores.

Competitive Pricing

One of the standout features of this company is their competitive pricing. They offer their products at affordable prices, ensuring that customers get the best value for their money. With regular discounts and promotions, shoppers can enjoy even greater savings on their purchases.

Excellent Customer Service

This company prides itself on providing excellent customer service. Their knowledgeable and friendly staff are always ready to assist customers with any inquiries or concerns. Whether it's helping with product selection, providing after-sales support, or resolving issues, their customer service team goes above and beyond to ensure customer satisfaction.

Fast and Reliable Shipping

When it comes to shipping, this company excels in providing fast and reliable service. They have a well-established logistics network that ensures prompt delivery of orders. Customers can expect their purchases to arrive on time and in excellent condition, enhancing their overall shopping experience.

Flexible Return Policy

This company understands that sometimes customers may need to return or exchange their purchases. That's why they have a flexible return policy in place. Whether it's due to a change of mind or a faulty product, customers can easily initiate a return or exchange process and receive a hassle-free resolution.
UK (London) based business - established in 1878 - providing funding services such as hire purchase, leasing and refinancing. Website includes details of services provided, regularly updated blog/news section ("industry insights"), associations, terms and conditions, details of complaints procedure, full contact details including company registration number. Company is regulated by the Financial Conduct Authority. reviewer
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  • Company established in 1878
  • Company is regulated by the Financial Conduct Authority.
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