Frequently Asked Questions
NOTE- FINANCE IS ONLY APPLICABLE TO UK RESIDENTS
What is asset finance?
Asset Finance (leasing and hire purchase) offers businesses an opportunity to gain access to the latest equipment without the large upfront costs. Payments can be spread over a number of months or years and can be tailored to your business needs.
Asset Finance can help your business grow and achieve its ambitions, whatever they may be.
What Finance products do we offer?
1. Hire Purchase
Hire Purchase allows you to spread the cost of your business assets. We pay for the asset outright, and you repay us in installments.
At the end of the agreement once all payments have been made, including the option to purchase fee of £90.00 (inc VAT) you take full ownership of the asset.
2. Finance Lease
Leasing allows you to spread the cost of a business asset. We pay for the asset outright, and you repay us in installments. You will not own the asset at the end of the agreement, we will contact you with options.
I normally buy my asset with cash, why would I use asset finance?
Asset finance allows you to spread the cost of the asset, so you tie up less capital at the front end of the asset’s lifecycle. By spreading the cost, you retain the cash flow to invest in other areas of the business.
How do I know if you will approve my request for finance?
Every request for finance that we receive is individually assessed across a number of different factors; your credit score is just one of those. Our team of experienced underwriters will review your application.
What information do I need to provide?
To provide you with a quote we will need your email, cost of the asset you are looking to finance and what term you would like.
- To proceed with your application we will require more information about you and your company
Do I have to provide additional security?
Generally the asset being leased is used as security for the Agreement, however in some circumstances we may ask for a guarantee.
What financial information do you need?
We may ask for a summary of your business' financial situation, for example your latest accounts and we may also look at your bank statements to show that on a monthly basis, you can afford the repayments when they are due.
How much can I finance?
Anything from £2,950.00 upwards.
Can I choose my repayment date and amount?
Yes. A specified payment date can be accommodated, please advise when requesting a quotation.
NB. This is subject to credit approval
Full terms and conditions are available on request, please contact us:
NXPower (UK) Ltd t/a Cyberpower UK
Unit B11, Kingsway Interchange, Eleventh Avenue
Team Valley Trading Estate, Gateshead,
Tyne and Wear, NE11 0JY
NX Power UK Ltd t/a Cyberpower UK act as a credit broker. Authorised and regulated by the Financial Conduct Authority. Finance provided by Hitachi Capital Business Finance, a trading style of Hitachi Capital (UK) PLC. Authorised and regulated by the Financial Conduct Authority