Equipment Finance
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Equipment Finance
Equipment finance is obtaining the use of machinery, vehicles or other equipment on a lease or rental basis. This avoids the need to invest capital in equipment but still allows the business to operate effectively in a short period of time.
A finance lease has similar financial characteristics to hire purchase agreements and closed-end leasing as the usual outcome is that the lessee will become the owner of the asset at the end of the lease, but has different accounting treatments and tax implications. There may be tax benefits for the lessee to lease an asset rather than purchase it and this may be the motivation to obtain a finance lease.
Fixed assets are different than current assets, such as cash or bank accounts, because the latter are liquid assets. In most cases, only tangible assets are referred to as fixed.
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