The practical answer
Possibly, but a longer finance commitment may be a poor fit if there is no use or reliable disposal plan afterwards.
Compare hire, purchase and any finance terms over the whole expected ownership period. Include settlement costs, resale uncertainty, transport and downtime between jobs.
If the equipment will move to other work, explain that plan and demand. A six-month customer project does not automatically entitle the borrower to end a longer HP or lease agreement after six months.
Commercial finance is subject to status, lender approval and the specific asset and transaction. The right structure depends on the complete circumstances of the business.
What should I do next?
Have the asset details, supplier information and an outline of what the business needs ready. DCF can then discuss the requirement and identify which lenders may be suitable.
Read: Equipment finance for a new contract →