Finance Lease
Similar to a Fixed Term rental agreement but aimed at longer life assets, a Finance Lease allows for the hire of goods for an agreed period of time where payments are made in return for the use of equipment or vehicles.
Arkle’s Finance Lease agreement is ideal for medium and long life equipment and vehicles. While Arkle will be the owner of the equipment during the term of the lease, you will retain all benefits and risks of economic ownership. There are various forms of leases in the market so before you sign the documents it is in your interest to read the small print and fully understand the terms and conditions of the lease agreement.
However, at the end of the term the equipment or vehicle is sold and then your business can receive a rebate depending upon the sale price.
Typical rental periods are between two and five years.
How it works?
Choose your equipment or vehicle.
Once you’ve signed your agreement with us, the equipment or vehicle is yours to use as you wish. You’ll be responsible for the maintenance and insurance and you’ll pay us a fixed number of rental payments, which attract VAT over a fixed period of time.
At the end of the fixed term
(usually between two and five years), you can either:
• hand the goods back to us without paying anything else,
• pay an annual secondary rental and continue to roll your contract over for another year, or
• sell the equipment or vehicle to a nominated third party
We’ll refund rental payments up to 95% of the net sales proceeds, minus any associated costs.
As this is a rental agreement, you won’t own the equipment or vehicle but you’ll get all the benefits and risks of economic owmership. You can end the agreement early by returning your goods and paying the remaining rent
What’s so good about this product?
Marine Mortgage
A marine mortgage is a loan agreement where the boat is offered as security. We have an experienced marine finance team who understand boats and are keen to listen and help with your boating plans.
GGS
Arkle Finance offer Asset Finance transactions through the British Business Bank Growth Guarantee Scheme. Please talk to your Arkle Approved Commercial Finance Broker for more detail on how to apply for one of our products.
Aviation Mortgage
For the light airplanes and helicopters that we finance we provide a mortgage which is secured against the aircraft you are purchasing. The aircraft we finance are typically 2-6 seaters, based in the UK and on the UK register. We fund a wide selection of light aircraft for business and pleasure use and depending on the aircraft specification we can consider terms up to 7 years and with the possibility of a final balloon payment option.
READ MOREHire Purchase
Hire purchase is a traditional form of asset finance and a product which provides the client with the immediate use of the equipment or vehicle, whilst also permitting the option to purchase the product at the end of the period of hire for a pre-agreed sum. All other benefits and risks of economic ownership rest with the client.
READ MOREWhy Choose Arkle Finance?
Here are some good reasons to select AFL as a finance partner.
Great Customer Experience
We provide a transparent and supportive service to both our customers and suppliers.
Professional & Trustworthy
We’re an ethical and trustworthy lender who communicates clearly without the jargon. We aim to lend responsibly whilst treating our customers and stakeholders fairly.