Introduction | We want to help you to find a suitable asset finance product that meets your needs. This sheet explains factors that you should consider. |
Our role | We work with a panel of asset finance lenders to find a suitable arrangement for you.
Once we have found a suitable arrangement, we will present the lender’s agreement to you to sign. We will discuss this with you and will be happy to explain any terms of the agreement to you. |
Do I need asset finance? | The main options for financing newly acquired equipment are:
In deciding which option to select, relevant factors may include:
For more help in deciding whether to select asset finance, see the Government’s Business Finance advice (https://www.gov.uk/business-finance-explained/overview) |
What types of asset finance are there? | Most asset finance arrangements involve paying a deposit and then monthly payments. The key difference between products is what happens at the end of the agreement and who gets title to the equipment.
In deciding which option to select, relevant factors may include:
For more details of these factors, see the Government’s Leasing and Asset Finance advice (https://www.gov.uk/business-finance-explained/leasing-and-asset-finance) |
Suitability of asset finance | Asset finance may not be suitable in certain circumstances. You should be aware:
For more details of factors affecting suitability, see the Guidance published by the Institute of Credit Management, managing cash when it’s time to invest (http://www.icm.org.uk/wp-content/uploads/2013/08/Resources_CFG_fla.pdf) |
Fees | We don’t make a charge to you for helping you to find a suitable asset lender. We may receive a payment from the lender for our work. Different lenders may pay us different amounts. |
Contact information | We will use the contact information you provide to us to obtain quotations from lenders. We may also use the information to tell you about our services in the future by letter, telephone, email or text message. Please contact us if you do not want your information used in this way. |
Complaints procedures | We want you to be very happy with our service, should you have a complaint about our service, please contact us directly on 01483 246465 or via email, admin@assetfunder.co.uk. We will acknowledge your complaint within five working days. We aim to resolve complaints within two weeks and to provide a final response to all complaints within four weeks.
If your agreement is regulated under the Consumer Credit Act and if after making a complaint you are still unhappy and feel the matter has not been resolved to your satisfaction, please contact the Financial Ombudsman Service (http://www.financial-ombudsman.org.uk/) |
Insurance | A condition of taking out an asset finance agreement is that you insure the equipment. |
Personal Searches | Please note the lender may wish to run a personal search during the underwriting process as part of their ‘know your customer’ procedure. By signing you are giving authorisation to conduct these searches. |