Yellow Plant Finance
It is a common term heard in the Construction and Farming Industries. It refers to large construction equipment items such as diggers, excavators, tractors and cranes etc. These business sectors, along with others, require such equipment as a vital part of their companies operations. However, they do tend to be costly items, new as well as used equipment for businesses. Richmond Asset Finance Ltd want to provide businesses in these sectors with the cheapest option for obtaining finance for these types of equipment.
Some businesses will avoid tying up their working capital by not going for direct purchase and opting instead for a leasing arrangement for construction equipment. This removes the ownership right but does reduce the cost, and gives the business owner the option to provide a final balloon payment to own the asset outright if desired.
Some businesses will simply prefer to enter into a new lease deal for the latest model, removing maintenance and repair costs from their budget and depreciation costs for accounting purposes.
However, other businesses will prefer to own the asset outright, especially if they have invested in a high-quality model that is likely to have a useful working life of many years. In such instances, it can be far more cost-effective to buy rather than lease. Businesses will often make the purchase via a finance agreement rather than taking money from their reserves and introducing a cash-flow risk into the business.
The right finance product provided by Richmond Asset Finance Ltd, can save money and time for the business. The wrong product can leave the business with a liability they wish they didn’t have for several years in the future. For this reason, many businesses are now seeking to work with specialist business finance providers such as ourselves rather than approach high-street banks. This is why Asset Finance has fast become the third most popular finance option since the start of the credit crunch.
We’re specialists in our field and our sole aim is to help businesses find the right finance for their circumstances from loans with fixed repayment schedules to part-funded loans with variable or staged repayment arrangements, all of which offer tax advantages.
So if you need any help or want to ask us some questions then contact us today!