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Whether your business is new or established, you will most likely need assets to be able to run your it successfully. Asset finance lawyers offer advice and solutions on the best way to finance your assets, such as equipment, vehicles and machinery. As well as legal expertise in financial law, they also have a thorough understanding of taxation, accounting and compliance.
Find out exactly how an asset finance lawyer might be able to help your business and how to get a free quote.
Where can I find an asset finance lawyer online?
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
What is an asset finance lawyer?
Asset finance lawyers support businesses and individuals looking to purchase, lease and sell assets. With combined legal and commercial backgrounds, asset finance lawyers provide advice in the areas of taxation, accounting, competition and regulation.
As well as providing advice on the appropriate asset financing options, they also:
- Mitigate risks and issues by giving advice on relevant regulation and competition laws
- Assist with tax and reporting on assets
- Ensure that insurance policies on assets are in place.
When should I use an asset finance lawyer?
If you're looking to obtain assets for your business without paying for it outright, then an asset finance lawyer can guide you with this process. This is known as asset financing, with equipment loan, hire purchase, finance lease and novated lease as the four main types.
An asset is any resource that you need to run your business which also adds value to your business. Asset financing generally deals with hard assets, which are tangible assets, such as property, machinery and vehicles.
If you're a startup or a growing business, then you will most likely need to obtain new assets. You can pay off the purchase in regular installments or lease the asset over a period of time.
Asset finance lawyer vs financial services lawyer
Financial services lawyers work with financial services companies to help them access, raise and manage finance. They help their clients navigate the complex financial regulatory environment to ensure that the business is compliant.
On the other hand, asset finance lawyers work across all types of industries, such as transport, property and manufacturing. Their expertise is around advising clients on the best way to access financing on assets.
Financial services lawyers and asset finance lawyers offer diverse and valuable skills in business formation and raising capital.
What does an asset finance lawyer do and not do?
An asset finance lawyer advises their client on structuring and documenting their asset finance transactions. Their services include:
What they will do
- Draft, review and negotiate lease and hire purchase agreements
- Read, interpret and apply the industry-specific business law and regulations
What they won't do
- An asset finance lawyer does not assist in areas of laws such as family, personal injury, estate planning, workers compensation, civil and criminal law matters.
How effective is an asset finance lawyer?
Asset finance lawyers will be able to advise you on the appropriate asset financing options depending on the industry your business operates in.
An experienced asset finance lawyer will be able to make sound judgements based on your business needs, accounting, tax and a host of legal issues. They will be able help you navigate the complex and constantly evolving corporate laws in Australia to ensure that your business is compliant.
Do I need an asset finance lawyer for my business?
If you're looking to obtain assets without dipping into your savings, then consider hiring an asset finance lawyer. Depending on the size and complexity of your business and industry, an asset finance lawyer may be able to set up an innovative finance structure.
An alternative to asset financing is the traditional bank lending. Some banks in Australia offering their own asset financing programs.
Where to get a free quote for an asset finance lawyer
- Lawpath: Set up a free account and submit a request. You will receive three proposals from their lawyers that you can compare and decide on.
- BestLawyers: A free search directory of lawyers in Australia, where you can filter by area of law and location.
- LegalVision: LegalVision has an enquiry form you can submit to receive a fixed fee quote.
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