Somtochukwu

Asset finance is an arrangement by which a lender (usually a bank) provides you with finance to buy capital equipment and the loan is secured on the asset acquired.

There are two types of asset financing: leasing and hire purchase. With leasing, you return the asset to the lender at the end of the period. With hire purchase, you take ownership of the asset at the end of the agreement once the full amount has been repaid.

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