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Medical Equipment Finance

Spread the cost of medical equipment from £5,000 to £500,000+ with flexible finance options. HP, lease, or refinance, compare rates from 40+ lenders.

Can you finance a medical equipment?

Yes, medical equipments 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 £5,000 to £500,000, 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.

200+ UK lenders
2-minute application
No credit check to apply
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Typical Cost

£5k – £500k

Approval Speed

24–48 hours

Same-day for < £75k

Rates From

4.5% APR

What would a medical equipment cost per month?

£60,000
10%
60 months
9%
£0

Your estimate

Indicative only. Not a quote and not an offer of finance.

Pre-filled with a typical medical equipment price. Indicative only, not a quote.

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Finance options

Hire Purchase (HP)

Rate
From 4.9% APR
Term
12–84 months
Deposit
10–20%
Ownership
Yours at the end
Best for
Private clinics wanting to own equipment outright

Finance Lease

Rate
From 4.5% APR
Term
12–84 months
Deposit
None required
Ownership
Return or buy (balloon payment)
Best for
Tax-efficient, claim 100% of payments against profit

Operating Lease

Rate
From 5.2% APR
Term
24–60 months
Deposit
None required
Ownership
Return at end
Best for
Always have latest medical technology. Off balance sheet.

Representative example

On a purchase price of £60,000: a 10% deposit of £6,000, then 48 monthly payments of £1,266 at 5.9% APR representative (fixed). Total amount payable £66,768, including the deposit. The rate you are offered depends on your business and the asset.

What buyers actually specify

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
GE Vivid S60N £40,000 – £80,000 Ultrasound Scanner
Siemens MOBILETT Elara Max £60,000 – £100,000 Mobile X-Ray
Mindray BeneVision N22 £8,000 – £15,000 Patient Monitor
Dräger Atlan A350 £30,000 – £50,000 Anaesthesia Workstation

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Tax benefits

Medical equipment qualifies for Annual Investment Allowance (AIA), letting you deduct the full cost from taxable profits in year one, up to £1,000,000. HP allows capital allowances. Lease payments are fully deductible from profits.

Market context

Medical equipment, diagnostic, imaging and treatment devices, is bought by private clinics, GP practices, physiotherapy and diagnostic centres, ranging from a single piece of kit for an independent practitioner to a full suite for a private hospital or group practice. Finance is the usual route because medical equipment is expensive relative to the size of most practices buying it, and spreading the cost keeps cash available for staff while the equipment starts generating clinic income. Replacement is generally driven by advances in diagnostic accuracy and by regulatory or insurer expectations, rather than the equipment failing. The used market is limited and specialist, particularly for imaging equipment.

Bad credit?

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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Frequently asked questions

Can I finance used medical equipment?
Yes. Most lenders will finance used medical equipment up to around 7 years old, provided it meets current regulatory and safety standards and comes with clear service and calibration history. Refurbished equipment sourced from a certified supplier, such as an imaging system that's been fully serviced and recalibrated by the manufacturer or an authorised dealer, generally gets the best terms, since the lender has more confidence in its condition and remaining working life. Equipment bought privately or without documented history is harder to finance, so it's worth sourcing used equipment through an established medical equipment dealer rather than an unverified private sale wherever possible.
What deposit do I need for medical equipment finance?
For hire purchase, most lenders ask for a deposit of around 10 to 20% of the equipment's price, though this can sometimes be reduced for an established practice with a strong trading history. Finance lease and operating lease agreements often require no deposit at all, since the lender keeps an interest in the equipment throughout the term rather than needing cash up front. A larger deposit lowers your monthly payments and can help secure a better rate, but many clinics prefer to keep cash available for staff and running costs while the new equipment beds in and starts generating clinic income, rather than committing more than necessary at the outset.
How quickly can I get medical equipment finance approved?
Most straightforward applications are approved within 24 to 48 hours, and same-day approval is common for equipment under £75,000 once bank statements, accounts and proof of ID are with the lender. Higher-value imaging or theatre equipment usually takes longer, often 5 to 7 working days, while the lender reviews the business case in more detail and, for larger amounts, may want to see management accounts or evidence of the clinic income the equipment is expected to generate. Having a clear supplier quote and your practice's registration details ready before you apply is the main thing that keeps the process moving quickly.
Do I need to be CQC registered to get medical equipment finance?
It depends on what the equipment is used for. For equipment used directly in regulated clinical treatment, a lender will typically want reassurance that the practice is appropriately registered with its regulator, such as the Care Quality Commission for CQC-regulated services in England, since this reduces their risk on equipment that's central to a compliant clinical service. Non-clinical medical equipment, such as administrative or purely diagnostic-support systems, is less likely to trigger this kind of check. If your registration is still being applied for, it's worth saying so early, since some lenders will proceed on that basis rather than waiting for it to be confirmed.
Can installation, calibration and training costs be included in medical equipment finance?
Yes. Most lenders will include installation, commissioning, calibration and staff training in the finance agreement alongside the equipment itself, provided these are itemised on the supplier's invoice. This is common practice for imaging and diagnostic equipment in particular, since it isn't usable in a clinical setting until it's been properly installed, calibrated and staff have been trained to operate it safely. It's worth asking your supplier for a single quote covering the equipment, delivery, installation and training before you apply, rather than arranging these separately, since lenders generally prefer to assess the full cost of getting the equipment into clinical use in one figure.
What happens if I need to upgrade or replace equipment before the agreement ends?
Under a hire purchase agreement, the lender has an interest in the equipment until the final payment is made, so you'd typically need to settle the outstanding balance, often from the proceeds of a trade-in or sale, before replacing it early. Many lenders will provide an early settlement figure on request and are used to clinics upgrading equipment as diagnostic technology moves on. If you're moving to newer equipment from the same supplier, it's often possible to arrange the trade-in and new finance together, with the dealer helping settle the old agreement and roll any balance into the new one, rather than you having to fund a shortfall separately.

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Guides and resources

What Is Asset Finance? HP vs Leasing Operating vs Finance Lease Best Asset Finance Companies Close Brothers Review Lombard Review

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