Rental companies live and die by fleet age, and refinancing what is already owned is how many of them fund the next intake of stock.
Whole-of-market — 60+ lenders searched, including
Hire fleet refinance releases cash from rental equipment a hire company owns outright. A funder values the fleet, buys it and hires it back to the rental business, which continues hiring the same items out to its own customers without interruption. The equipment must be owned free of any existing agreement. Valuations reflect trade disposal value, which on hire stock is typically well below original cost because rental use is hard use. Funders comfortable with this sector understand that the assets are out on hire rather than sitting in the depot.
Used kit: Yes — hire fleets are by definition working assets and age is expected, though heavily used items past their rental life release very little.
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Business asset finance is quoted on a flat rate, so that is what this shows — with the equivalent APR underneath, because the two are not the same number. A quick guide only; your actual rate depends on the asset, term, deposit and lender.
Representative example: on Hire Purchase, borrowing £25,000 over 48 months at a 6.0% flat rate (equivalent to 11.5% APR representative), you would repay around £646 a month; total amount repayable approximately £31,000, of which £6,000 is the cost of finance. This calculator is for illustration only — it is not a quote or an offer of finance, and the rate and repayments you are offered will depend on the asset, term, deposit and your circumstances. CW Asset Finance is a credit broker, not a lender, and may receive a commission from the lender that funds your agreement. All finance is subject to status, affordability and lender approval. CW Asset Finance is an Appointed Representative of Rural Finance Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 630701).
Hire fleet refinance narrows the funder list considerably, because many underwriters dislike assets that are permanently off site in the hands of third parties. Those that do write it want to see a proper fleet management system, asset registers with serial numbers, hire desk records showing where items are, and evidence of a disciplined maintenance and inspection regime. Fleet composition is scrutinised: a small number of high-value machines is easier to value and recover than thousands of small tools, which are often excluded entirely. Utilisation and rental income history support the case. The funder will also want to know why the money is needed, and fleet reinvestment is one of the most persuasive answers available. Because this is a disposal of trading assets, the accounting treatment deserves proper attention from your accountant.
Examples of the machines we are asked to fund. This is not an exhaustive list — if what you are buying is not here, it does not mean we cannot fund it. Your supplier quote is what the agreement is written against.
| Machine | What it is |
|---|---|
| Genie Z-45 articulating boom lift | Powered access platform in hire fleet |
| JLG 1930ES scissor lift | Electric scissor lift for hire |
| Niftylift HR21 boom lift | British built powered access platform |
| AJC EasyCabin welfare unit | Mobile site welfare unit |
| Boss Cabins welfare units | Towable site accommodation unit |
| Bomag BW120 AD-5 roller | Compaction plant in hire fleet |
| Wacker Neuson plate compactors | Small compaction plant for hire |
| Stephill generators | Portable site generators for hire |
| Kubota KX027-4 mini excavator | Mini excavator in hire fleet |
| JCB 540-140 Loadall fleet | Telehandler hire fleet |
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Usually a tool, plant or event hire business with a fleet approaching its natural replacement point. Demand is rising, the existing fleet is paid off but ageing, and the owner needs capital for a new intake now rather than funding it slowly out of rental income over the next two seasons.
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Bought on hire purchase, business plant and machinery normally qualifies for capital allowances on the full cost even though you pay for it monthly, which is a large part of why hire purchase is the common structure. On a finance lease you generally set the rentals against profit instead. The rules change between budgets and your position depends on how you trade, so treat this as the direction of travel and get your accountant to confirm the detail before you commit.
Yes, provided your systems can prove where each one is. Funders expect hire assets to be off site — that is the business model — but they want a register, serial numbers and hire contracts that establish existence and location for anything they are buying.
Usually not. Individually low-value items are difficult to verify, easy to lose and cheap to replace, so most funders strip them out and concentrate on the machines that carry real second-hand value.
It helps considerably. Strong utilisation shows the fleet earns, which supports both the valuation and the repayment case. Weak utilisation suggests overstocking, which prompts questions about why more capital is being raised at all.
It is, simply because fewer funders are comfortable with assets they cannot see. That is precisely where broker placement matters, since approaching the wrong funder wastes weeks and produces a decline that tells you nothing useful.
That is fine and very common in hire. You need the purchase invoice and the serial number just as you would for new equipment. Buying used does not disqualify an asset, it simply means the valuation starts from an already-depreciated base.
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See everything we fund in asset refinance and sale and leaseback →
Not an offer of finance. All finance is subject to status, affordability and lender approval.
Tell us what you’re looking to fund and Conor will come back to you personally — usually the same day.
Prefer to talk? Call 07581 364281 · serving Leeds, York, Harrogate, Wakefield, Selby, Tadcaster & across North & West Yorkshire.