The plant hire industry provides heavy machinery and equipment to the construction industry on either a short-term or lease-hire basis. Since plant hire equipment and machinery tends to be expensive, companies usually finance or lease their purchases, allowing them to stock more units.
Plant hire & machinery financing options allow businesses to access the machinery they need without having to pay the full cost upfront. This allows you to spread the cost of the machinery over a longer period of time, while still being able to access the machinery your customers require to get the job done.
PLANT HIRE FINANCE
Finance new or used equipment
Rates from 3.5%
Borrow £10k – £500k
12 – 84 month terms
VAT deferral available
Finance and leasing options also provide plant hire companies with the opportunity to upgrade their equipment more frequently. By leasing equipment, companies can return the equipment at the end of the lease period and upgrade to newer, more advanced equipment. This allows them to stay competitive and offer their customers the most up-to-date equipment.
Using our extensive network of lenders, we can secure funding for any plant equipment your company needs, including excavators, dumpers, forklifts, and more. Additionally, we can provide funding for smaller equipment such as tool hire, generators, bowsers, access lifts, and welfare units.
At First Oak Capital we offer bespoke finance agreements, as well as a personalised service to customers looking to finance plant hire and machinery. If you want to grow your Plant Hire business, we can finance or refinance any equipment and machinery you need.
WHY FIRST OAK CAPITAL?
Helping Since 1994
Benefit from our 30 years of experience and expertise in commercial finance brokering
Competitive Industry Rates
Increase business growth and save money with highly competitive industry rates
Access Over 100 Lenders
Access to more than 100 lenders in the UK finance market
Funding Within 48 Hours
Once approved, funding can be provided in as little as 48 hours
Benefits of plant hire finance
- Allows plant hire companies to acquire the necessary equipment and machinery without having to make a large upfront payment.
- Offers more flexible repayment terms, enabling plant hire companies to choose a repayment schedule that suits their cash flow and budget.
- Provides the opportunity to upgrade equipment more frequently by leasing, enabling companies to stay competitive and offer the most up-to-date equipment to customers.
- Offers tax benefits for plant hire companies, such as claiming leasing payments as a tax-deductible expense.
- It provides more predictable budgeting by having a fixed monthly payment, which can be especially beneficial for companies that are looking to expand
- Can help to preserve cash flow and reduce the risk of financial difficulties
- Can provide more financial stability by leasing equipment, companies can avoid the risk of owning equipment that becomes obsolete or loses value.
- May have lower interest rates than traditional bank loans
- Can be tailored to the specific needs of the plant hire company, such as financing for specific types of equipment or for a certain period of time.
- Some finance providers can offer additional services such as maintenance, repairs, and insurance for the equipment, making the whole process more convenient for the plant hire company.
- Companies who sell equipment can also access stocking loans to fund the inventory until sold.
FAQs
There are several financing options available for plant hire companies, including traditional bank loans, equipment financing, and leasing.
Yes, it is possible for a plant hire company to finance multiple pieces of equipment at once through equipment financing or leasing.
Yes, there are tax benefits to financing or leasing equipment for a plant hire company, such as being able to deduct lease payments as a business expense.
Yes, a plant hire company can finance or lease used equipment, but the terms and rates may differ from those for new equipment.
It may be more challenging for a plant hire company with a poor credit history to obtain financing, but there are specialised lenders who provide financing for those with less than perfect credit.
The cost of financing or leasing equipment can vary depending on the lender and the terms of the agreement. It is important to compare offers and determine which option is most cost-effective for the company.
The time it takes to obtain financing or leasing for equipment can vary depending on the lender and the complexity of the application. It is important to work with a lender that can provide a quick and efficient process.
The terms of a lease agreement will vary depending on the lender, but in general, a plant hire company may be able to return equipment before the end of a lease agreement.
Yes, it is possible for a plant hire company to purchase equipment at the end of a lease agreement, but the terms and price will be determined by the lender.
Yes, some lenders may allow a plant hire company to trade in old equipment for new equipment under a financing or leasing agreement.
Yes, equipment insurance is generally required for a plant hire company under a financing or leasing agreement to protect the lender’s investment.
The requirements for collateral will vary depending on the lender and the amount of financing or leasing needed. Some lenders may require collateral while others may not.
Have Questions? Let’s Talk.
Call us today to get help securing financing for your plant hire business. In addition, we would be happy to provide you with more information about our services. Call us on 0800 066 3677 or email us to arrange funding for your business needs. Alternatively, if you’d like to get your finance approved today just click on the quote button, complete the short form and we’ll be in touch.
