Red Fox Finance | Finding the Best New Asset Finance Options for You

New Assets

Your Assets Options

Sept 11, 2023

Navigating the New Asset Finance Landscape

Investing in new assets is a crucial driver of growth for many businesses, enabling them to enhance operational efficiency, expand capabilities, and maintain a competitive edge. However, determining which financing option best suits your business's unique needs can be challenging. At Red Fox Finance, we're here to help you navigate this complex landscape and match the most suitable new asset finance option with your business. There's a variety of new asset finance options available, each with its own benefits. Let's take a look at some of the popular ones and how they might align with your business needs.

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Options

1. Leasing

If your business values flexibility and prefers not to commit to asset ownership, leasing could be your perfect match. This finance option lets you use the latest technology or equipment for a predetermined period while making regular payments. Businesses in rapidly evolving sectors such as IT & Software, where equipment may become outdated quickly, can greatly benefit from this option.

2. Hire Purchase

If eventual ownership is your goal, a hire purchase agreement is worth considering. This involves paying an initial deposit, then making regular payments until the total price of the asset is paid off. This option is particularly useful for businesses in sectors like Manufacturing or Construction, where machinery and equipment have a long lifespan and can be an excellent long-term investment.

3. Asset Loans

For businesses that need to purchase an asset immediately but lack the upfront funds, asset loans offer an excellent solution. The asset acts as security for the loan, offering a streamlined route to ownership. Businesses across industries that expect a high return on investment from their new assets might find this option beneficial.

4. Invoice Financing

Businesses with a steady flow of invoices can unlock their value with invoice financing. This option is great for businesses in sectors with long payment terms, such as Logistics or Manufacturing, providing immediate cash flow to invest in new assets.

5. Equipment Financing

This specific financing option allows businesses to pay for new equipment over a period, with the potential of owning the equipment at the end. Industries requiring expensive, specialised equipment, like Medical & Dental or Film & Video Production, might find equipment financing a practical solution.

When considering which finance option to choose, it's essential to evaluate your business's specific needs and objectives. Consider factors such as how long you'll need the asset, the cost of the asset, your cash flow situation, and whether or not you wish to own the asset in the long term. At Red Fox Finance, our experts work closely with you to understand your business and its unique needs. We guide you through the decision-making process, ensuring the chosen finance option aligns perfectly with your business goals and financial situation. We're proud to partner with a panel of 79 diverse lenders, giving us the flexibility to secure the best terms and rates for our clients. Our mission is to provide impartial advice and guide you toward the most suitable new asset finance solution. Reach out to us today and discover how we can empower your business with the right new asset finance option.

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Your Assets Options

Craft your financial journey by choosing the right new asset finance options. Gain insights into the various types of financing tailored for your new assets. Ensure you're well-prepared with our 12-step readiness checklist and have a clear picture of the approval timeframes. Don't miss out on our guide detailing the essential documentation for successful new asset finance applications.