Machine refinance – turning machines into cash
If you need a cash injection into your business why not consider refinancing your existing machines? Contact us anytime for free help and advice.
Machine refinance is quick and easy to arrange and can be used for the following purposes.
- To boost working capital.
- To invest in assets or projects unsuitable for other forms of finance.
- To buy out a Director/Shareholder.
- To provide a deposit for a new machine.
- To replace an invoice discounting or factoring facility.
How does it work?
Most of our refinance agreements are completed by using Sale & Hire Purchase Back. This means that you sell your machine, receive the cash and then finance it again on a Hire Purchase agreement with title passing back to you at the end of the refinance period. The main features to consider are as follows.
- Any machine can be refinanced if there is a reasonable second hand market for the machine.
- Machines up to 15 years old can be considered.
- Evidence of ownership will be required such as a copy of the original purchase invoice or finance agreement.
- Finance periods are usually available up to 3 years although 5 years can be considered depending upon the ages of the machines.
- Up to 100% of the trade value of the machine can be considered.
- In most cases you pay no valuation fees.