Hiring or leasing equipment is one way of making your working capital go further. Instead of paying out up front, you can spread your payments over a set period, and benefit from the use of the equipment in the meantime. Of course you have to pay for this benefit, but with the right deal it will serve you well. With the wrong deal, you could end up paying well over the odds or getting involved in a dispute. So think through what you want to achieve, and check the small print on the deals you are offered, before you sign anything. This briefing looks at the advantages of equipment finance (or asset finance, as it is often called), and suggests some ways of ensuring it meets your requirements. It covers:
- Deciding whether equipment finance is right for your business.
- Different forms of finance arrangement.
- What to look out for.
- Where to get help.
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