How can asset finance help my business?

Most businesses need assets like equipment, machinery or vehicles to operate. Asset finance is an easy way to fund what you need to keep your business running and help it grow.

Instead of paying the full amount up-front when you buy or replace items, asset finance allows you to spread the cost over time. Monthly payments make it easier to manage the cost of large purchases without tying up your cash. You can even use asset finance to release funds from recent purchases as well as future ones.

Enquire or apply for asset finance

Enquire about asset finance

Enquire about asset finance

Get a quote, apply online or speak to one of our specialists who can tailor an asset finance solution to your business needs.

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Benefits of asset finance

Grow your business

Buy what you need to be more productive, efficient and sustainable.

Spread costs over time

Protect cash flow and make budgeting easier with monthly payments.

Flexible options

Buy or lease new or used assets with terms up to 120 months.

What do you want to finance?

What type of asset finance is right for you?

There are different ways to fund your asset depending on what type of asset it is, whether you’re buying new or used, and if you prefer to hire the asset or want to own it at the end of the agreement.

Business Hire Purchase

Our most popular car finance option helps you spread the cost.

Keys illustration
  • Option to own at end

  • New or used

  • Fund up to 90% of price

  • 12 to 60 months

More about Hire Purchase

Finance Lease

An affordable way to lease cars without owning them.

Clipboard illustration
  • Extend or sell at end

  • New or used

  • Fund up to 100% of price

  • 12 to 60 months primary lease

Request a call back

Vehicle Contract Hire

A cost-effective way to lease brand new cars without owning them.

Vans illustration
  • Return vehicle at end

  • New only

  • No deposit

  • 24 to 60 months

More about Contract Hire
 

Video:

Let's talk about Hire Purchase

Lloyds Bank have been providing asset finance solutions for many years. We have a team of specialists on hand to ensure you get the right support and the help you need to choose the solution that is right for your business.

Calculate your repayments

Calculate your repayments

Use our illustrative calculator to understand the monthly cost for Business Hire Purchase.

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Other types of asset finance

Why choose Lloyds Bank for asset finance?

Tailored pricing

Using over 40 years of experience to tailor pricing to your business needs.

Customer feedback

NPS score of 82* with most customers choosing to finance assets with us again.

Flexible and open

You don’t need to bank with us to apply for our asset finance solutions.

Talk to an asset finance specialist

Talk to an asset finance specialist

Request a call back or call 0345 602 4796 and press option 1.

We’re available from 9am to 5pm, Monday to Friday, except public holidays.

Call me back

Frequently asked questions

  • An asset can be anything a business needs, from vehicles and equipment to machinery and technology. What you need depends on the type of business you run, but assets usually include everything you don’t sell to customers.

  • Our business asset finance solutions can fund a range of assets such as:

    • Transportation: HGV, bus and coach, trailers, cars, marine.
    • Agriculture: Tractors, combines, biomass, forestry, automation, and livestock trailers.
    • Technology: ICT, software, services, telephony, printers, business equipment.
    • Manufacturing: Standard plant and machinery, production lines, CNC machines, robotics, automation.
    • Construction: Standard construction and plant hire equipment, diggers, bulldozers, demolition drills, cranes.
    • Renewables: Small scale renewables, solar panels, air source heating, biomass boilers, Combined Heat & Power (CHP).
  • Sale & Hire Purchase (HP) Back allows you to initiate new Hire Purchase agreements against assets you’ve recently purchased and paid for in full.

    Providing the equipment was purchased no more than 6 months ago* it can be sold to Lloyds Bank at its full non-depreciated value and hired back to you, releasing cash back into your business with no impact on your day-to-day control of the asset.

    *Sale & HP Back can be used to finance goods acquired by you within the previous 6 months in England and Wales, and under Scottish Law within 3 months.

  • The easiest way to apply for Hire Purchase is by getting a free quote.

    • Tell us how much you want to borrow, and we’ll give you an indicative quote.
    • If you’d like to discuss your quote, we’ll ask for some information about you and your business.
    • We’ll call you to discuss your quote and your business requirements. We’ll then give you a decision. 
    • We’ll contact the supplier and arrange the purchase.
  • Asset finance solutions are used solely for the purpose of leasing or buying a specific agreed asset. Asset finance looks to the value of the asset as the security for the finance you need to borrow in order to lease or buy it.  At the end of your agreement, you will have different options including owning your asset, returning it, selling it or extending your lease.

  • Pricing is tailored on the asset you want to buy or lease.

More from Asset Finance

How Asset Finance can help you grow

We explain what Asset Finance is, and how you can use it to finance vehicles or equipment that can help grow your operations.

Read the guide

How to grow your business

To grow a resilient business that’s around for the long term, you must plan for sustainable growth. That means understanding the current situation and having a vision for the future.

Read the guide

Tax allowances available on assets

The Annual Investment Allowance (AIA) is a regular capital allowance which applies to purchased assets that are used and kept within a business. Some or all of the asset’s value can then be deducted from profits before tax is applied. The AIA limit is currently set at £1,000,000.

Annual Investment Allowance (PDF, 130KB)

Manage your existing agreement

You may need to make changes throughout the life of your Asset Finance agreement.

Find out how to make a change if you need to.

 

How to make a change (PDF, 117KB)

Other borrowing options

Whether you're an established business or just starting out, finding the right finance product can be difficult.

Compare and choose our products, whatever your business circumstances.
 

View all borrowing

* NPS score of 82.4 between July 2021 and July 2022.

Important Legal Information

Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

The products and services outlined on this site may be offered by legal entities from across Lloyds Banking Group, including Lloyds Bank plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc and Lloyds Bank Corporate Markets plc are separate legal entities within the Lloyds Banking Group.

Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc and Lloyds Bank Corporate Markets plc. Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no.2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.

We adhere to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.

Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all business customers will be covered.