All fairground and leisure park assets - showmen’s guild members and large corporates.
We offer the following finance products:-
- Finance Lease
- Hire Purchase
A guide to fairground finance
Are you a fairground owner wanting to update, upgrade or expand the show you offer? Are you just starting out in the business and looking to acquire your first ride or two?
The 4,100-member Showmen’s Guild requires all of its fairground operators to submit their rides and equipment to a rigorous safety inspection each year – and no piece of machinery may be operated without the appropriate safety certificate.
So, if any of your equipment is suspect and nearing the end of its working life, you might want to avoid any such “stop” notice by arranging the relevant fairground finance to keep your business up and running.
Why you may need fairground finance
Fairground finance provides the funding for the equipment you need now, rather having to wait until your business has retained sufficient profits for an outright purchase.
In this way, fairground finance allows you to renew or replace equipment, or further expand your fairground operations on your own terms – as and when you choose, without the spectre of a safety stop notice putting paid to the business altogether.
Types of finance available
Amongst the various types of finance available for the acquisition of major pieces of fairground equipment are:
- Just as the term suggests, these do not involve your immediate purchase of the equipment, but rather its lease for an agreed period of time;
- By leasing it, you do not own it straight away, but enjoy exclusive use of the equipment as though it were your own;
- Depending on the lease agreement, you may also enjoy servicing and maintenance as part and parcel of the monthly rental you pay;
- The duration of the lease is typically close to the economic life of the equipment and, when it ends you may be given the option of purchasing it at its so-called residual value or, by entering a secondary lease, continue to rent it;
- This is a solution likely to be familiar with many showmen and involves your purchase of the equipment under a credit agreement normally requiring the down payment of a deposit (of around 10% of the purchase price), followed by equal monthly instalments over an agreed period (say, between one and five years);
- You do not own the equipment until the final instalment has been paid, you may not sell it again without the hire purchase company’s consent, and the equipment may be repossessed if you default on the agreed repayments.
Why use Asset Finance Arena?
Whatever financing option you choose, you may be sure that here at Asset Finance Arena we are here to help identify the one likely to be suitable for your particular, individual needs and requirements.
Simply complete our online enquiry form, outlining your requirements – or contact us by telephone or via email – and we can send you a quote for the finance you may need.