A balloon, also known as Residual Value (RV), is not an extra fee but part of your loan structure in asset finance. While it's an integral portion of the loan, it's a larger sum paid at the end, allowing for smaller monthly repayments, especially popular in commercial vehicle finance options. This residual or balloon can be paid out when the asset is sold or refinanced at end of term.

Consumer loans are personal in nature, focusing on individual needs, while commercial loans or asset finance solutions cater to business requirements, such as commercial vehicle finance or machinery acquisition. The latter often provides tax benefits and flexible structures tailored to business cash flows.

A commercial vehicle, vital in asset finance discussions, is primarily used for business purposes.

Deposit requirements in asset finance vary based on the asset type, its value, and the financing terms. While some commercial vehicle finance options might not require a deposit, others might request a percentage of the asset's value.

Absolutely. Leveraging our expertise in asset finance, Colossal Finance offers refinancing solutions, providing businesses the opportunity to optimize their cash flow or secure better financing terms for existing assets. We can complete a Sale & Hireback on any asset regardless of when it was purchased.

While our asset finance solutions encompass a broad range, from commercial vehicles to machinery, certain restrictions might apply based on the asset's age, condition, and intended use with some lenders. Our team provides guidance, ensuring you secure the best financing terms.