Asset finance is a way of specifically funding the purchase of an asset e.g. vehicles, machinery, equipment… almost anything moveable. The assets being purchased can be new or used and asset finance can sometimes be arranged to release cash from assets already owned by the business.
The most common form of asset finance is hire purchase, whereby the assets becomes owned by the business at the end of the predefined term. There are alternatives being lease financing and operating lease which can be sourced if you do not wish to own the assets at the end of the period.