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Before we proceed to the concept of fixed asset finance lets understand that what are fixed asset? Fixed asset are those asset which cannot be converted into cash easily and quickly. Building, plant, machinery are some of the examples of fixed asset.
On availing fixed asset finance, the person must try to make timely repayments. Otherwise, the lender can seize or sell the asset in order to realize his due amount of payment. Along with it, it also put adverse effect on credit score and financial position.
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