Equipment finance is a financial solution that allows businesses to obtain essential equipment without paying the full cost upfront, instead spreading the cost over a specified period.

Any business, whether a startup, small business, or established corporation, can apply for equipment finance if they need equipment to run or expand their operations.

Almost any type of equipment can be financed, including but not limited to manufacturing equipment, IT equipment, construction machinery, medical devices, restaurant and gym equipment.

This depends on your business needs. Leasing offers flexibility and can be more affordable in the short-term, while purchasing can be beneficial if the equipment has a long lifespan or potential for future resale.

Interest rates vary based on a number of factors such as your credit score, the loan term, the type of equipment, and the lender's policies. Our team at Red Fox Finance can help you find the most competitive rates.

Repayment terms typically range from one to seven years, depending on the agreement and the lifespan of the equipment.

This depends on your agreement. You may have the option to purchase the equipment, renew the lease, or return the equipment.

Yes, many lenders offer finance options for used equipment. The terms may differ from those for new equipment.

At Red Fox Finance, we work with a wide range of lenders, some of whom specialise in helping businesses with less-than-perfect credit. We can help you explore your options.

There might be an initial deposit or down payment, depending on the finance agreement. We will discuss all potential costs with you upfront.

The application process timeline varies but typically takes a few days to a few weeks, depending on the lender and the complexity of the deal.

This depends on your agreement. Some lenders allow early repayments, while others may charge a prepayment penalty.

Typical documents include proof of identification, financial statements, business plans, and details about the equipment. We will provide you with a comprehensive list.

Equipment finance can offer tax advantages, as lease payments can often be deducted as a business expense. Always consult with a tax professional to understand the specific implications for your business.

Yes, in most equipment finance agreements, the financed equipment itself serves as collateral.

Yes, many finance agreements allow for equipment upgrades or additions. This will depend on your specific agreement and lender's policies.

This depends on your agreement. Some leases include maintenance provisions, or you may have the option to purchase insurance coverage for repairs.

Yes, many lenders will allow financing for software as well as hardware.

With a finance lease, the lessee assumes the risk and rewards of ownership, while an operating lease allows the lessee to use the asset without assuming ownership risks.

Equipment finance can provide significant benefits, like preserving cash flow and enabling access to the latest equipment. Our team at Red Fox Finance can provide personalised advice based on your business needs.