Skip to main content
WiTMONEYWiT Money
Borrow
Invest
Business Finance
Insurance
Providers
Tools
Guides
About
WiTMONEYWiT Money

Compare UK financial products

Wise. Insightful. Trusted.

© 2026 WiT Money. All rights reserved.

Borrow

  • Credit Cards
  • Personal Loans
  • Mortgages
  • Car Finance
  • Debt Consolidation
  • Bad Credit Loans
  • Credit Score
  • Eligibility Checkers

Invest

  • Current Accounts
  • ISAs
  • Investment Platforms
  • Funds & ETFs
  • Savings Accounts
  • Pensions
  • SIPPs
  • Robo Advisors
  • Alternative Investments
  • Precious Metals

Business Finance

  • Business Loans
  • Business Bank Accounts
  • Business Credit Cards
  • Invoice Finance
  • Asset Finance
  • Start Up Loans
  • Business Overdrafts
  • Merchant Cash Advance
  • Spend Management
  • Payments & International

Insurance

  • Car Insurance
  • Home Insurance
  • Travel Insurance
  • Life Insurance
  • Business Insurance
  • Insurance Guides
  • Insurance Providers

Tools & Guides

  • Mortgage Calculator
  • Loan Calculator
  • Savings Calculator
  • Investment Growth Calculator
  • Budget Planner
  • Stamp Duty Calculator
  • Debt Payoff Calculator
  • Net Worth Calculator
  • Life Insurance Cover Calculator
  • All Guides

Providers

  • Personal Finance
  • Investments
  • Business Finance
  • Insurance
  • All Providers

Company

  • About Us
  • How We Make Money
  • Editorial Guidelines
  • Comparison Methodology
  • Corrections Policy
  • Complaints

Support

  • Privacy Policy
  • Terms of Use
  • Cookie Policy
  • Contact
  • FCA Register
Part ofWiT FINANCE GROUP

Wise. Insightful. Trusted.

WiTMoney is a free financial comparison and information service, part of WiT Finance Group. We do not provide financial, investment or credit advice. WiT Money may receive a commission or referral fee from some providers when you follow a link or take out a product. See how we make money.

Product information is provided for comparison and general information purposes only and does not constitute a personal recommendation. Rates, fees, eligibility criteria and other terms can change. Always check the latest information and full terms directly with the provider before making a decision.

WiTMoney is not authorised or regulated by the Financial Conduct Authority and does not carry out regulated financial services activities.

  1. Home
  2. Guides
  3. Business Finance
  4. Asset finance explained
Business Finance
Equipment funding

Asset finance explained

How hire purchase and leasing-style finance can fund equipment and vehicles — and what to compare before signing.

7 min read · Published 26 August 2026 · Last updated 26 August 2026

Written by Teresa Mary, Chief Finance Editor

On this page

  1. 01What asset finance is for
  2. 02Structures to know
  3. 03Frequently asked questions
On this page
  1. 01What asset finance is for
  2. 02Structures to know
  3. 03Frequently asked questions

What asset finance is for

Asset finance helps businesses fund tangible assets such as vehicles, machinery or equipment. Instead of paying the full purchase price upfront, you typically repay over an agreed term while using the asset.

Structures to know

Common structures include hire purchase (often leading to ownership after the final payment) and lease-style arrangements where end-of-term options differ. Always confirm deposits, interest or charges, balloon payments, maintenance obligations and what happens if you want to exit early.

Compare options on the [asset finance](/business-finance/asset-finance) page, then verify current terms with the provider.

Frequently asked questions

Read our editorial standards →

Written by

TM

Teresa Mary

Chief Finance Editor

Teresa leads WiT Money’s financial editorial content, helping ensure guides, comparisons and tools are clear, accurate and useful for UK consumers and businesses.

Last updated 26 August 2026

View Teresa Mary's profile →

Questions or updates

If you spot something that needs correcting or want to contact our editorial team, get in touch.

contact@witfinancegroup.com →

Related guides

Business Finance

Choosing the right business loan for your SME

Start with why you need funding, then compare business loans, overdrafts, invoice finance, asset finance and credit cards — without a personalised recommendation.

14 min read: Choosing the right business loan for your SME

Business Finance

Secured vs unsecured business loans

What security and personal guarantees mean for business borrowing — and how that changes cost, risk and eligibility.

8 min read: Secured vs unsecured business loans

Business Finance

Merchant cash advances explained

Learn how merchant cash advances work, how sales-linked repayments and costs are structured, and what to compare before using this type of business finance.

12 min read: Merchant cash advances explained