Many finance companies provide the facility to refinance previously paid for assets, generally on the basis that the asset is durable, identifiable, and moveable. Many types of asset can be refinanced – general plant and machinery, commercial vehicles, buses, etc. Funds generated can then be used for any business purpose as required. There are several methods of refinancing available:
- Sale & Lease Back. The equipment is sold to the finance company, and rented back to the seller for an agreed period of time.
- Sale & Hire Purchase back. The equipment is sold to the finance company, and re-purchased by the seller over an agreed period of time.
- Loan & Chattel Mortgage. The finance company lends to the owning company, with the loan secured by a chattel mortgage over the asset concerned.
NFS is connected to the leading companies in the asset refinance industry.