Under an Operating Lease, Northern Asset Finance claims the capital allowances as owners of the assets. This enables us to offer lower rentals, which are based on the planned economic use, rather than the life, of the asset. This helps your budgeting and cash flow and can make off-balance-sheet funding possible.
Northern Asset Finance or a third party will take a residual position on the asset. In most cases, but not all, a maintenance contract is required while the asset is being leased. This ensures that the asset is returned to us in good working order, allowing for fair wear and tear.
We offer operating leases for the following types of asset:
- Buses and Coaches
- Forklift trucks
- Access lift/platforms
- Heavy goods vehicles
- Light commercial vehicles
- Trailers
- Municipal vehicles
Northern Asset Finance Limited is a wholly owned subsidiary of Northern Bank Limited.