Spread the cost of induction furnaces from £40,000 to £900,000+ with flexible finance options. HP, lease or refinance; compare rates from 40+ lenders.
Yes, induction furnaces are financed as a standard asset purchase, usually on hire purchase or a lease, with the machine itself acting as the security. UK prices typically run £40,000 to £900,000, and most deals are written over 12–84 months with a deposit of around 10–20%. Decisions typically take 24–48 hours. Used machines are financeable too, usually with a shorter term.
Typical Cost
£40k – £900k
Approval Speed
24–48 hours
Same-day for < £100k
Rates From
4.5% APR
Your estimate
Indicative only. Not a quote and not an offer of finance.
Pre-filled with a typical induction furnace price. Indicative only, not a quote.
Compare induction furnace finance rates from 200+ lenders
Check EligibilityOn a purchase price of £180,000: a 10% deposit of £18,000, then 48 monthly payments of £3,797 at 5.9% APR representative (fixed). Total amount payable £200,256, including the deposit. The rate you are offered depends on your business and the asset.
Guide prices for sizing a finance agreement, not quotes. Manufacturers in this market mostly price on application, so where a current UK list price could not be confirmed the row describes a specification class rather than naming a model. Your supplier quote is what the agreement is written against.
| Machine or specification | Guide price | Type |
|---|---|---|
| Coreless induction melting furnace, 400–600kg capacity | £40,000 – £150,000 | Small Coreless Induction Furnace (specification class) |
| Coreless induction melting furnace, 1–3 tonne capacity | £150,000 – £500,000 | Medium Coreless Induction Furnace (specification class) |
| Coreless induction melting furnace, 3–6 tonne capacity with holding | £500,000 – £900,000 | Large Coreless Induction Furnace (specification class) |
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Check EligibilityInduction furnaces qualify for Annual Investment Allowance (AIA), meaning you can deduct the full cost from taxable profits in the year of purchase, up to £1,000,000 for qualifying plant and machinery. HP agreements let you claim capital allowances on the asset as it sits on your balance sheet; lease payments are generally deducted as an operating expense over the term.
Induction furnaces are bought by iron, steel and non-ferrous foundries as the primary melting unit, whether replacing an older furnace, adding capacity, or switching from a cupola or gas-fired furnace to induction melting for tighter process control. Furnaces and heat treatment plant are heavy, need a significant electrical supply, and often require planning or environmental permitting for emissions before the site can operate the equipment. Installation and commissioning, including the electrical infeed, foundations and any flue or abatement work, is frequently a large share of the total project cost, and is not always financeable on the same agreement as the equipment itself. Buyers finance the furnace itself, and often work with their lender and the equipment supplier separately on how installation and any electrical infrastructure upgrade is funded, since the two projects don't always sit on the same agreement. Replacement is typically driven by needing more melting capacity or better power efficiency, rather than the coil or power supply failing outright, since refractory lining is the main routine wear item and is relined rather than being a reason to replace the furnace. A functioning used and refurbished market exists for induction furnace power supplies and coils, supporting refinancing of an existing unit.
Several of our 200+ lenders specialise in businesses with imperfect credit histories. You may need a larger deposit or personal guarantee, but options exist. Checking your options here does not affect your credit score, because we do not run a credit search to match you. A lender will run their own checks only if you decide to apply.
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