Asset finance calculator
Asset finance spreads the cost of a vehicle or equipment over monthly payments, secured on the asset itself. Enter the asset price, any deposit, the rate, the term and an optional balloon (a larger final payment) to see the monthly cost, the total payable and the total interest on hire purchase or a finance lease.
The net price of the vehicle, plant or equipment.
Any upfront payment. On HP the VAT is usually paid upfront and not financed.
Asset finance commonly runs from about 6% to 15% a year, depending on the asset and covenant.
A larger final payment that lowers the monthly cost.
Indicative estimate for limited-company business finance, not a quote or a credit decision. Rates you enter are your own; no credit search is run. Reviewed July 2026.
Balance over the term
What you pay
Get an indicative asset finance quote
No obligation, no credit search. We are a broker for limited-company business finance and may receive commission from the lender.
Worked example
For £47,000 asset finance at 9.0% over 3 yr, the monthly payment is £1,495. Amount financed: £47,000. Final balloon: £0. Total payable: £53,805.
How it works
- Asset finance is secured on the asset itself, so it is usually easier to get than unsecured borrowing.
- The price, less any deposit, is spread over equal monthly payments for the term.
- A balloon is a larger final payment that lowers the monthly cost; on hire purchase you own the asset once it is paid.
- On a finance lease you rent the asset over its useful life and the residual reflects its end value.
- VAT on hire purchase is usually paid upfront and reclaimed, so it is not part of the amount financed here.
Frequently asked questions
What is the difference between hire purchase and a finance lease?
On hire purchase you pay towards owning the asset and take title at the end, after any balloon. On a finance lease you rent it over its useful life with a residual value and do not usually own it. HP suits assets you want to keep; leasing suits assets you replace regularly.
What is a balloon payment?
A larger one-off payment at the end that lowers your monthly cost by leaving part of the value unpaid until then. On HP, paying the balloon completes ownership. The calculator shows the monthly figure with and without one.
Can I finance the VAT?
On hire purchase the VAT is normally paid upfront and reclaimed on your next VAT return, so it is not financed. Some lenders offer a separate VAT facility. This calculator works on the net, ex VAT price.
Is this a quote?
No, it is an indicative estimate to help you plan. Real terms depend on the asset, its age and mileage, and the lender. CoreFi is a broker for limited-company asset finance and can source indicative terms from the panel.
This calculator gives an indicative estimate of business finance for limited companies. It is not a quote, an offer, or a credit decision, and no credit search is run. CoreFi is a trading name of JG Core Ltd (company 16218779), a finance broker not a lender, and may receive commission from the lender. Figures reviewed July 2026.