Everyday finance terms explained

Everyday finance terms explained

A few everyday finance terms have been laid out below and explained. When speaking to new clients, suppliers, or partners there are those who have never heard of leasing or asset finance before. Therefore, it’s important to help you understand what we do and how we can help. If you would like more information on anything you see below, then please get in touch. You can do this by using our contact details at the bottom of this blog.

Asset Finance

This is obviously one of the most common terms to explain. If you are not familiar with leasing, then the process can be a little confusing for some. However, it is in actual fact very simple. We also have a leasing process for those who would like to see how it works. However, the definition for asset finance varies. An asset is any resource or item that holds value. Therefore, asset finance just means you have acquired it through using finance as the preferred payment method. There are several benefits included which you can see here.

Practice Finance

Here at WestWon Dental we offer finance options for a range of assets, one of them being practice finance. Although this could relate to several different definitions, we see it as a form of finance for your dental practice itself. This means that whether you are fitting out the whole practice or just going through a refurbishment, we can help. These can include (but aren’t limited to) your reception desk, your IT, telecoms systems and even the floor of the practice. We offer a start to finish process.

Commercial Lending

We also provide finance for commercial lending. This is essentially another word for business loans. Here at WestWon Dental we provide finance for all types of business loans. These include VAT Loans, Corporation Tax Loans, Working Capital Loans and Professional Indemnity Insurance.

Hire purchase for Vehicles

A hire purchase works alongside a fixed rate. A fixed rate allows you to purchase a vehicle with fixed monthly payments. It’s the most efficient way to budget. There will never be any hidden or extra payments to make, meaning you will always be sure of what you are paying. A hire purchase also means that at the end of the agreement, the vehicle is yours to keep. However, this must be done with the terms and conditions being met.

WestWon Woodland

Now this isn’t a general finance term that every leasing company uses. However, it is one that is always thrown about when it comes to WestWon Dental! You have probably seen by now that we have our very own green agenda. We are planting a tree for every month of lease agreement we undertake with you. For example, a 5-year agreement sees 60 trees planted! We have the goal to plant over 100,000 trees and offset over 7,500 tonnes of CO2 from the atmosphere, both within the next 5 years. As we hope to reach the 20,000 mark soon, we are looking forward to celebrating this major milestone. If you would like more information, then please get in touch.

Contact Us

If you want to learn more about our everyday finance terms explained, then please get in touch. Give us a call on 01494 611 456, or send an email to hello@westwon.dental

© 2023 WestWon Limited T/A WestWon Dental
WestWon Dental is a trading name of WestWon Limited. The Financial Conduct Authority (FCA) regulates financial services in the UK and you can check this on the Consumer Credit Register by visiting the FCA’s website here or by contacting the FCA on 0800 111 6768. WestWon Limited is a credit broker and not a lender. WestWon companies deals with a range of lenders. All WestWon companies hold a current Data Protection Licence and are registered for VAT. These details, together with our policy on Treating Customers Fairly, Complaints Policy and address details are held under our Get In Touch page.
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