siliconindia | | October 20214An AFC is a type of (NBFC) NON-BANKING FINANCIAL COMPANY which is a financial institution carrying on as its principal business and the financing of physical asset supporting economic activity and productivity , such asset include as machines , tractors ,automobiles and industry machineries . Asset finance works in a few different ways, depending on which type of asset finance you opt for. Hire purchase works by enabling you to spread the cost of purchasing an asset over a set amount of time. Once you've paid the lender in full, the asset is yours to keep.There are two types of leases one is capital lease and the other one is the financial lease. The lender buys the asset you need, and rents it to you on a lease. That means you have it straight away, and only need a fraction of the total amount up front. Generally, you have to pay the first month's rent, spreading the VAT over the whole period. At the end of the lease, you can either continue leasing the item, buy it outright at an agreed price (factoring in money already spent), upgrade to a new piece of equipment on a new lease, or simply return it.Imagine you run a manufacturing company and need to buy more machinery due to an increase in demand. You require the equipment quickly in order to meet this new demand, however it would cost thousands of pounds and your business can't afford to pay outright.After doing some research, you decide to opt for the hire purchase option. As the asset itself acts as the loan collateral, you don't have to offer security which is another plus.We understand the requisites of a growing manufacturing company and therefore bring to you a list of asset finance companies that will most definitely sooth your troubles of getting your assets procured, maintained, and managed.Do let us know what you think. Emmanuel Christi DasEditoreditor@siliconindia.comEditorialWhile you Focus on your Core Competency, Let the Experts Manage your Assets Vol 10 · Issue 08 - 02 · October, 2021 Publisher Alok Chaturvedi Editor Emmanuel Christi Das Editorial Team Aveek Pal Chaudhuri Avinash Roy Mandvi Singh GM - Sales & Marketing Rohit Kumar Advertising Managers Editorial queries editor@siliconindia.com To subscribe Visit https://www.siliconindia.com/subscribe/ or send email to subscription@siliconindia.com Cover price is Rs.150 per issue. Printed and Published By Alok Chaturvedi on behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2021 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.advertise@siliconindia.com Visualisers Mohana Krishnan Vetrivelu Group Art DirectorAshok KumarCirculation Manager Magendran Perumal Ashwini D Naik Shilpa Selva Felisha Rita Correspondents Indranil Chakraborty LaxmiAssistant Editor Ananth Vsiliconindia | | December 202023siliconindia | | March 20203siliconindia | | MAY 201939
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