When a company decides to make a major purchase of an asset, whether it is equipment, machinery or vehicles, navigating the world of finance can be complicated. There are a number of different finance options available, each with their own advantages and disadvantages and it can be difficult to decide what is best for the company. One of the ways to reduce the stress of the decision and choices available is to have an asset finance broker do the work for you.
What does an Asset Finance Broker do?
Asset Finance Brokers are finance professionals who specialise in helping companies obtain finance for purchases of assets such as equipment, machinery and vehicles. They are essentially the middle person between the lender and the customer. They work with a variety of lenders and financial institutions to find the best finance option for their client, the person/company looking to purchase the asset.
Why should a company use a finance broker?
1. Access to a variety of finance options: Asset finance brokers have access to a variety of lenders and finance options that a company may not have access to on their own. This can include, hire purchase, finance lease, refinance and other asset-based lending. A broker can therefore provide competitive rates across a range of options allowing the company to find the one that suits them best.
2. Expert advice: An asset finance broker is an expert in their field. With their knowledge and experience, they can offer guidance and advice to help your company make informed decisions about financing. This can include explanations of various finance options, information on market trends and best practices.
3. Save yourself time & effort: Asset Finance Brokers understand that your time is valuable and finding the right finance option can be a time-consuming process. Asset Finance Brokers can help streamline this process by doing the majority of research, paperwork and administrative tasks and negotiations terms with lenders for you. Allowing you to focus on the day to day operations of your business.
4. Tailored finance solutions: Every company has unique financing needs. An Asset Finance Broker will take the time to understand your companies needs and requirements and work with you to create a finance solution that is tailored to your needs. This ensures that your company gets the finance in the way it needs it.
5. Cost benefits: An experienced finance broker can negotiate better terms and rates with its variety of lenders on behalf of their clients. Better rates and terms for your company can result in significant cost savings over the life of the agreement.
To conclude, there are many valuable reasons why a company should consider using an asset finance broker when purchasing an asset. They have access to and can provide the best finance options available whilst offering expert advice, saving you time and money along the way.
If your company is in the market for new equipment. Get in touch with UK Asset Funding Solutions and see how we can help!