Asset Finance Options

• Hire purchase
• Finance lease

Available for existing Bank of Scotland customers on amounts of £50,000 and above.

Meeting your needs

At Bank of Scotland, we believe in building strong relationships with our customers. The key to this is our willingness to listen to your specific aims - and then create the finance options that help you to reach them.

Hire purchase

With hire purchase, we fund the purchase and you repay us over a term that suits your business cash flow - a term that can be between one and seven years. At the end of that period, you own the asset. You pay a deposit and you can choose either a fixed or variable interest rate for your repayments*. There is also the option to lower or defer your repayments to suit your income or cash flow cycles. Also, a hire purchase agreement allows you to select your own supplier and negotiate the best deal, and you can claim the capital allowances.

Finance lease

With finance lease, we pay for the asset and lease it to you in return for rental payments. At the end of our agreement, anywhere between one and seven years, you have two options: you can either extend the rental period, paying a nominal rent, or sell the asset and retain a portion of the proceeds. Although you are unable to claim capital allowances on the asset, you can normally offset the rentals against taxable profits, in line with your accounting depreciation.

Find out more

To discuss the asset finance option that suits you best, please call 0845 603 8720 † or email us.

*VAT on the full purchase price of any equipment is payable upfront.