With the industry brought to its knees over the last 16 months, we are starting to see a light at the end of the tunnel.

With this in mind, Universal Asset Finance has been set up to assist operators both with asset finance and other loan facilities. With experience in both private equity, operating coaches and also coach sales, we are in a unique position to help operators from all corners of the industry not only fund coaches but also source them. We have written a little guide how to to give yourselves the best chance of securing asset finance for your business.

Pick the right asset for the right job

Finance companies want to see that the asset fits the requirements of the company. They know full well that a brand new coach is very unlikely to be sustained for just on school runs while private hire and tour work is slowly coming back. Think, if I was going to lend someone money for the coach – does it make sense?

Can you afford it?

The key to asset finance is affordability.

  • Can you afford to actually repay the loan each month and can you currently justify it?
  • Do you have a contract in place?
  • Are you currently paying an emissions charge that you could save by upgrading the vehicle?
  • Do you have a surplus income?
  • Does a like for like swap on a vehicle makes sense to bring maintenance costs down?

These are all questions your broker should be asking you and putting forward in its proposals to help your case.

Be upfront

All coach and bus companies have been dramatically affected by the pandemic, but don’t be afraid to discuss the problems you are facing and how you are overcoming them.

Finance companies are looking for confidence in yourself and your business and how this investment is going to add to your profit margins. Some of our recent lends have been to businesses that are seeing the pandemic as a platform to expand and capitalise on gaps in the market.

Be resilient

Just because one finance company or broker has been unable to help doesn’t mean another with a different panel of lenders is of the same view.

We have recently assisted a customer to get funding who had been to five different brokers unsuccessfully. Not only did we secure the funding for him, but we also produced the lowest monthly repayment figure he was quoted on.

If you would like to speak to a member of our staff to find out more and how we can assist you please contact us at info@universalassetfinance.co.uk or 01865 570880