Fund what you need

Fund the purchase of a range of assets from plant, machinery and vehicles, to office equipment.

Funding starts at £15,000.

Preserve your capital

With no upfront payment, match the amount you borrow to the useful life of the asset and make payments from business revenue. 

Stay in control

Provide fixed regular payments over an agreed period instead of paying cash up-front, to help with your budgeting and cash flow.

Get a quote for Hire Purchase

Find out how much you need to pay each month for assets up to £150,000. We won’t run any credit checks on you or your business.

Get a quote

Hire Purchase

Spread the cost of the asset over time, with the option to own it at the end of the term.

  • Fund up to 90% of your asset purchase price
  • Funding starts at £15,000 after deposit (minimum deposit of 10%)
  • Flexible repayment structures to suit your business needs
  • Choose any repayment period between 12 and 60 months

Get a quote

More about Hire Purchase

Eligibility

Asset Finance is available to new and existing Lloyds Bank customers.

  • The asset must be for use in your business
  • Your turnover must be more than £100,000 per annum
  • You must have been trading for a minimum of 24 months and be UK-based

Other types of Asset Finance

Solutions to suit your needs

If Hire Purchase isn’t suitable for you, we offer other Asset Finance solutions such as:

Finance Lease – Use the equipment you need without the ties of ownership.

Our specialists will work hard to understand your business requirements and provide a solution tailored to your needs.

Coronavirus Business Interruption Loan

If you’re looking to acquire a new asset or finance an existing asset but your business has experienced difficulties as a result of the coronavirus pandemic, the Coronavirus Business Interruption Loan Scheme may be available to support you.

Your group turnover must be between £3m-45 million to apply.

The deadline for new applications is 31st March 2021.

Enquire about Asset Finance

Our specialists will work hard to understand your business, and provide a solution tailored to your needs.

Call 0345 602 4796

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

Enquire now

Why choose Lloyds Bank?

 

Experience

With over 40 years of experience in providing Asset Finance, you can be confident you are dealing with one of the UK’s leading providers.

Expertise

We work hard to understand your business requirements and provide a solution that is tailored to your needs.

Efficiency

You’ll be supported by a UK-based team of Asset Finance specialists to ensure you access the assets you need as efficiently as possible.

  • Why choose Asset Finance?

    Asset Finance is a flexible solution for businesses looking to purchase new equipment, or refinance existing assets. There are three main benefits to choosing Asset Finance:

    Enhance your productivity

    • New capability creates more value
    • Affordable access to advanced machinery

    Protect your cash flow and working capital

    • No upfront payment
    • Repayments are agreed at the outset, so you know exactly how much you’ll need to pay

    Gain a competitive advantage

    • Benefit from securing your future through investment
    • New assets to support a modern & professional image

    What sort of equipment can I finance?

    You can finance a broad range of assets. Typical assets funded include:

    • 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).

    How quickly can I get funded?

    A large proportion of Hire Purchase deals are funded within 48 hours, providing the asset is ready for delivery.

    Can I refinance an existing asset?

    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 it’s 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 & Wales, and under Scottish Law within 3 months.

    How do I apply for Hire Purchase?

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

    1. Tell us how much you want to borrow, and we’ll give you an indicative quote.
    2. If you’d like to discuss your quote, we’ll ask for some information about you and your business.
    3. We’ll call you to discuss your quote and your business requirements. We’ll then give you a decision.  
    4. We’ll contact the supplier and arrange the purchase.

    Will I own the asset?

    If you choose to.

    Hire Purchase gives you the option to buy the asset you’ve financed with a one-off purchase payment at the end of the agreed rental term.

    Do you offer other Asset Finance solutions?

    Yes.

    If Hire Purchase isn’t suitable for your business our specialists will work hard to understand your business requirements and provide a solution tailored to your needs.

    Enquire

Success stories

Image of Walsall Wheelbarrows

The Walsall Wheelbarrow Company

Find out how the UK’s last remaining wheelbarrow maker eased the pressure on cash flow during COVID-19 with the help of a Hire Purchase facility.

Read case study
Image of a tub of Jude's salted caramel ice cream

Jude’s Ice Cream

Find out how a Hampshire business producing high-end ice cream increased their expected annual turnover by 30% with the installation of a new dairy.

Read case study

Other borrowing options

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

We want to make it simple for you to compare and choose our products, whatever your business circumstances.

View all borrowing

Annual Investment Allowance

The Annual Investment Allowance (AIA) is a capital allowance which applies to purchased assets that are used and kept within a business.
The AIA limit is set at £1,000,000 until 1 January 2022.

Finance & Leasing Association

The Finance & Leasing Association is the leading trade body for the asset, consumer and motor finance sectors in the UK.

Important information

The provision of our credit or leading services by us is subject to you meeting our credit approval.

Please ensure that you only apply for credit or leasing services that you can comfortably afford.

Lloyds Bank plc, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under Registration Number 119278.

Lloyds UDT Leasing Limited, Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England & Wales no. 665240.

Lloyds Bank Asset Finance, part of Lloyds Banking Group, is a member of the Finance & Leasing Association (FLA) and complies with the FLA Business Code of Practice. Lloyds Banking Group is a member of the Lending Standards Board (LSB) and complies with the LSB Standards of Lending Practice for Business Customers (Asset Finance). Further information is available from the FLA at www.fla.org.uk and from the LSB at www.lendingstandardsboard.org.uk.

We are covered by the Financial Ombudsman Service (FOS). Please note that due to FOS eligibility criteria not all business customers will be covered.

The provision of credit or leasing services by us is subject to you meeting our credit approval.  Please ensure that you only apply for credit or leasing services that you can comfortably afford.