Vehicle, plant and equipment finance

Our asset finance packages consist of a range of practical and tax-efficient ways in which you can get the finance that best suits your needs. We’ll finance:

• Equipment Finance - available for a wide range of purposes including; agricultural machinery, industrial, printing, computers, textile machinery, communications, office, medical/dental, woodworking, shop fitting, catering and fishing/forestry.
• Plant Finance - available for cranes, earthmoving and quarrying machinery, warehouse or construction plant.
• Heavy Goods Vehicle Finance - available for articulated, rigid and tipper trucks, trailers, container units, coaches & buses.
• Vehicle Finance - flexible Finance & Leasing options, including contract hire,  available for New & Used Cars and Vans, 4x4 vehicles and pick up trucks.

Benefits for your business

Competitive -With an asset finance package you can avoid using capital for your fixed-asset needs.

Flexibility -Choose a repayment term that suits you best - from two to five years (four years for motor cars). Payments are fixed and can be tailored to suit your cashflow requirements.

Purchasing - Pre-sanctioned facilities allow you to negotiate the best deal on new or used vehicles or machinery.

There are 2 finance options available:

Hire Purchase

• Offers your business a straightforward finance deal. Simply make your fixed rate repayments every month and at the end of the agreed term you will own your asset.
• The item is treated as an asset on your business's balance sheet.
• With a hire purchase agreement, interest on payments may be offset against taxable profits and capital allowances may be claimed. Your repayments are not subject to VAT which may be reclaimable by certain VAT registered businesses. 

Leasing

• In essence, a lease is a medium term hire agreement where you pay a periodic rental, usually monthly, for the use of an asset for a nominated period. At the end of this period you can terminate the lease by informing us who to sell the asset to, or you can extend the lease by paying a small annual rental for as long as the asset is required. At the end of the agreement the asset is sold to a third-party and you benefit from the major proportion of the sale proceeds.
• A vehicle may be classified as an "off balance sheet" item that can improve your business's gearing ratio, for operating lease (contract hire) only.
• At the end of the agreement – you do not own the vehicle.
• With a leasing agreement - rentals may qualify for tax-deductions and VAT may be reclaimed by VAT registered businesses.

Important Information

• Price list for business customers
• Loans are subject to eligibility criteria and may be subject to an arrangement fee. Terms and conditions are available on request
• Applicants must be 18 years or over
• As a responsible lender First Trust Bank will only lend money based on our assessment of your ability to repay. Written quotations available on request