To ensure vehicles are in the best condition, mechanics require high-performing, specialist equipment. With so many different makes, models and classifications, equipment has never been in higher demand, with cost at an all-time high.
From MOT bays and vehicle lifts to air compressors, charging stations and ramps, we help mechanics and garage owners purchase the big and little items that deliver a top-class service.
Funding garage equipment not only kick-starts new business but also helps upgrade equipment so garages can continue running. As a bonus, interest on loans and leases is also tax-deductible for businesses.
With multiple outgoings, it can be risky to invest all your savings into one place. Equipment funding allows you to budget for vital assets. Paying them off in monthly installments while keeping a healthy bank balance.
Many businesses are priced out of these benefits, as they have to pay for Garage & MOT Equipment up front. Distributing payments over a period of time, therefore, makes funding solar tech significantly easier.
Using finance for equipment purchases removes the stress of finding available cash to buy essential items. Origin can fund any garage & MOT equipment requirement of £10,000 upwards, whether the equipment is new or used, over a period of up to seven years.
We’ll guide you through the application process and match you with a lender that suits your monthly budgets with fixed repayments.
Can I finance vehicles and equipment that I already own?
Yes! This is called refinance, but this is restricted to just vehicles, plant, and machinery. Origin has access to many lenders that offer refinance. Refinance is one of the most underutilised finance products & can be a great way to release working capital. A good rule of thumb is that you would need 60% equity for refinance to be a viable option.
Can I fund used garage & MOT equipment?
With Origin, you can fund any requirement above £10,000 and the equipment can be new and used.
Can you get garage & MOT equipment on finance?
Yes! With Origin Finance, you can apply for garage & MOT equipment finance. This type of finance is designed to help mobile mechanics, garage owners and bodyshop owners purchase essential equipment. This could include tool chests, hoists, diagnostic equipment, wheel alignment equipment, vehicle lifts…whatever you need.
Does the lender cover the entire cost of garage & MOT equipment?
Yes! Origin can provide finance solutions that cover the entire cost of the garage & MOT equipment you need, including any necessary groundworks, electrical works, delivery, and installation.
How do I know whether I’m eligible for garage & MOT equipment finance?
If you’re not sure whether you’d be eligible for our finance solutions, try our eligibility checker. We just need some basic information from you and you won’t have to enter any personal information. Alternatively, why not set up a discovery call with a member of the Origin team?
How does garage equipment finance work?
Applying for garage & MOT equipment finance all starts with a conversation about your business. By establishing what you need, your future goals, and your budget, we match you with a finance lender to provide a suitable solution. There will be a contract between you and the lender that works within your budget and without impacting cash flow, with fixed monthly repayments over a period of up to 7 years.
What different finance solutions does Origin offer?
We offer a range of finance solutions to businesses of all shapes and sizes and in every sector: Government-backed lending schemes; asset and equipment finance, including finance lease and hire purchase; business loans; and refinance. We also provide expert guidance and insight into commercial finance and can support you with Government-backed funding options.
What type of finance is best for garage & MOT equipment?
Asset finance is the ideal solution for purchasing equipment in the automotive and vehicle repair industry. The right kind of finance will depend on your needs and budget. After an initial conversation with Origin, we can help determine what is available to your business.
Finance for Equipment
What equipment can Origin help to fund?
We can help businesses to fund equipment of all shapes and sizes, across a wide range of sectors.
