Compare Asset FinanceCompare Asset Finance

We understand that every business is unique and needs a range of finance products to suit their individual business requirements. 

We also know that keeping your business operations flexible requires products that are just as adaptable.

The table below lists some of the features and benefits of the various products provided by Northern Asset Finance. Whatever your requirements, contact our Specialist Sales team, who can help you tailor an asset finance solution that best suits your business.

This comparison tool is for illustrative purposes only
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ProductsHire PurchaseLeasingContract Hire
 
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Interest allowable against taxYes
Writing down allowancesYes
Eventual ownershipYes
No depreciation risk (except for excess mileage)Yes
Potential off balance sheet with borrowing / gearing ratio unaffectedYes
No vehicle disposal problemsYes
Rentals allowable against tax (1)YesYes
Reduced Capital outlayYesYesYes
Reduced administration costsYes
Interest rate fixedYesYesYes
Fixed repayments / rentals (2)YesYesYes
Cash flow benefitsYesYesYes
Simple budgetingYesYesYes
Fixed maintenance costsYes (4)
Emergency service coverYes (4)
Road fund licence renewalYes
Replacement vehicle (mechanical breakdown)Yes (4)
No VAT on repaymentsYes
VAT on rentals recoverable (3)YesYes
VAT on maintenance 100% reclaimableYes
Resale surplus may be credited as a rental rebateYes
 
NOTES
  1. Some restrictions on cars
  2. Subject to change in VAT
  3. 50% restriction on cars with private use
  4. Optional

Whether we grant you any of our credit facilities depends on your age and circumstances.

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Northern Bank Limited, Donegall Square West, Belfast BT1 6JS. Registered in Northern Ireland R568. Phone +44 (0) 28 9004 5000. Calls may be recorded. Northern Bank Limited is authorised and regulated by the Financial Services Authority. Credit facilities other than regulated mortgages are not regulated by the Financial Services Authority. Northern Bank Limited is entered in the Financial Services Authority's register, registration number 122261. VAT number GB853 7590 92. Northern Bank Limited subscribes to the Lending Code.

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