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For many manufacturing businesses who need fork lift trucks, looking at asset finance might be a wise financial decision compared to a rental scheme with a maintenance package.
A loyal Thames Valley Asset Finance client needed to replace two fork lift trucks as they were no longer fit for purpose. The two new fork lift trucks would have a very low daily usage, so their preference was to own the assets once the five year Hire Purchase arrangement was complete.
Thames Valley Asset Finance was able to structure a great arrangement for this client, who had an excellent credit rating. We could fund 100% of the net cost of each truck (Toyota fork lift trucks at £31,000 ex VAT and £18,000 plus VAT). This meant client did not have to tie up valuable working capital as part of the deposit/security.
The two trucks had differing production and delivery timescales, so Thames Valley Asset Finance organised for the finance to be agreed on a credit line, allowing one finance agreement to be drawn first and the second a few months later, which was a great financial benefit for our client.