Asset Finance Interest Rates

Understanding current rates and what affects them

Current Rate Ranges

New Assets

4-8%

For new equipment and vehicles

Used Assets

6-12%

For pre-owned equipment

Refinancing

5-10%

For existing asset refinance

Factors That Affect Your Rate

1. Business Profile

  • Trading history length
  • Annual turnover
  • Credit rating
  • Industry sector

2. Asset Characteristics

  • New vs used condition
  • Asset type and purpose
  • Expected useful life
  • Resale value

3. Finance Terms

  • Loan amount
  • Repayment period
  • Deposit size
  • Security offered

4. Market Conditions

  • Bank of England base rate
  • Economic conditions
  • Industry-specific factors
  • Market competition

How to Get Better Rates

  • ✓ Improve your business credit score
  • ✓ Provide a larger deposit
  • ✓ Choose newer assets with good resale value
  • ✓ Consider offering additional security
  • ✓ Shop around and compare multiple lenders

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