Asset finance leasing - XL Business finance
XL Business Finance Blog » Blog Archive » Attention all Car owners

Attention all Car owners

Are you looking to raise cash quickly? It is now possible to organise a short term business  loan offering your car as security.

If you have a luxury car which is free of finance , you can release the money or equity tied up in your car on a short term basis. This is different from a traditional refinance agreement that provides funding on a hire purchase agreement over a number of years. The finance company will take your car as security which will be stored in a secure facility.

Whilst this kind of offering will not be an option to everyone there are plenty of business owners out there that may have a second luxury toy or car. As you can imagine APRs wont be the cheapest however they never are when it comes to bespoke and creative funding. It does however provide a quick fix alternative to the bank funding which in the current climate isn’t available to everyone.

How it works. A trade value of the car is obtained from the finance company. A percentage of this trade value is  is provided on a short term loan. There are no monthly repayments. Interest accrues on a monthly basis and the finance is repaid at the end of the loan agreement typically 3-6 months. This kind of lending is ideal for customers that maybe have a guaranteed lump of cashing coming to them but need something to keep them ticking over

Tags: , ,

Comments are closed.


 
 
 

XL Business Finance Ltd is a privately owned and independent business financing company with established links to many of the UK's leading finance houses. XL Business Finance provides a viable alternative to high street banks that lack the flexibility and imagination to provide a solution to most business users requirements. XL Business Finance can provide a full range of business financing solutions and we ensure a high level of customer service and pride ourselves on quick decisions. Our independent status will ensure any offer of funding and asset finance leasing is best suited to our customer’s needs.

XL Business Finance, Eaton Place Business Centre, 114 Washway Road, Sale, Cheshire M33 7RF UK.

 

Manchester, Liverpool, Leeds, Preston, Sheffield, Stoke, Merseyside, Lancashire, Cheshire, Staffordshire