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Woodturning lathes are often described as the “mother of all machine tools”. By rotating a workpiece against a stationary cutting tool, they allow woodworkers to create cylindrical, symmetrical, decorative, and architectural components with precision and repeatability. From bespoke furniture legs to large-scale architectural columns, wood lathes are indispensable across hobbyist, professional, and industrial woodworking environments.
At Gable Business Finance, we specialise in woodturning lathe finance for UK workshops and manufacturers, arranging Hire Purchase, Finance Lease, Operating Lease, Refinance, and Debtor Finance for new and used lathes—including industrial copy lathes and CNC woodturning machines. We regularly beat dealer finance, particularly on used, specialist, or high-capacity lathes.
This guide explains how woodturning lathes are used, the different machine types available, and includes a lathe-specific finance FAQ.
A woodturning lathe is a machine that rotates a piece of wood on its axis, allowing material to be shaped with hand-held or automated cutting tools. Unlike sawing or milling, turning creates round, balanced, and symmetrical forms that are difficult or impossible to achieve by other means.
Wood lathes range from:
Compact bench-mounted machines for small items
Heavy, floor-standing industrial lathes
Fully automated CNC wood lathes for production environments
Used for long, narrow components where the grain runs parallel to the axis of rotation.
Typical products include:
Furniture legs (tables, chairs, sofas)
Stair spindles, balusters, and bannisters
Railing posts and newel posts
Baseball bats, rolling pins, and handles
This is one of the most common applications in furniture and joinery workshops.
Used for wider items where the grain runs perpendicular to the axis.
Common products:
Bowls
Platters
Plates and trays
Popular in bespoke furniture, craft, and artisan production.
Wood lathes are widely used for:
Candlesticks
Pens
Chess pieces
Christmas ornaments
Knobs, pulls, and small vessels
Often produced on mini or midi lathes.
Large-capacity and CNC lathes are used for:
Custom columns
Large newel posts
Architectural features
High-volume production of identical parts
CNC lathes excel where repeatability and efficiency are critical.
A typical woodturning lathe consists of:
Headstock – houses the motor and drives the workpiece
Tailstock – supports long workpieces for stability
Bed – rigid base aligning headstock and tailstock
Tool rest – adjustable support for cutting tools
Spindle turning – cutting parallel to the axis
Faceplate turning – cutting across the axis
Hollowing – creating bowls and vessels
Common tools include:
Roughing gouges
Bowl gouges
Skew chisels
Parting tools
Most modern lathes include:
Variable speed control for safer starts and finishing
Electronic braking
Digital RPM displays
High-torque motors for dense hardwoods
These features improve control, safety, and finish quality.
Best suited for:
Pens and small bowls
Hobbyists and small workshops
Bench-mounted environments
Compact and affordable.
Designed for:
Furniture legs
Long spindles
Larger bowls
Offer greater power, rigidity, and capacity.
Used to:
Produce multiple identical components
Follow templates for repeatability
Common in small production runs.
High-tech machines for:
Automated turning
Complex and repeatable designs
High-volume production
Ideal for furniture manufacturers and architectural joinery.
Prices vary widely depending on size and automation:
Mini / midi lathes: £500 – £2,500
Professional floor-standing lathes: £3,000 – £15,000
Copy lathes: £10,000 – £30,000
CNC wood lathes: £25,000 – £150,000+
Used lathes: Excellent value available
Given their long service life, asset finance is commonly used.
Hire Purchase is a flexible, cost-effective alternative to overdrafts or bank loans, ideal where long-term ownership is required.
Key benefits:
Fixed or variable repayments
Payments matched to workshop cashflow
Capital allowances usually claimable
Interest payments tax deductible
VAT typically recoverable upfront (subject to VAT status)
Ownership transfers at the end
Simple, clear documentation
HP is popular for core production lathes.
A tax-efficient option that preserves cash.
Features:
Rentals aligned with depreciation
Fixed or variable rates
VAT payable on rentals, not upfront
End-of-term flexibility:
Retain for a nominal annual rental, or
Sell and retain most of the proceeds
Often used for higher-value CNC lathes.
Suitable where:
Lower monthly costs are preferred
Technology may be upgraded
Balance-sheet efficiency matters
Residual value reduces repayments.
If you already own a lathe outright, refinance can:
Release tied-up capital
Fund tooling, automation, or workshop upgrades
Improve working capital
Debtor Finance releases cash tied up in unpaid invoices to:
Support growth
Smooth cashflow
Enable additional investment
Can I finance a used woodturning lathe?
Yes. Used lathes are commonly financed, and Gable often secures better terms than dealer finance, particularly for industrial and CNC models.
Is Hire Purchase or Leasing better for a wood lathe?
Hire Purchase suits long-term ownership of core machines.
Finance Lease suits higher-value or CNC lathes where flexibility matters.
Can tooling and accessories be included in the finance?
Often yes. Chucks, tooling packages, and extraction upgrades can frequently be bundled.
Are CNC wood lathes financeable for smaller manufacturers?
Yes. We regularly support SMEs upgrading to CNC turning, structuring repayments around production output.
Will asset finance affect my bank overdraft?
No. Asset finance is typically separate from bank facilities.
Woodturning lathes—especially copy and CNC machines—are specialist assets that many lenders struggle to value correctly.
Gable Business Finance offers:
Specialist knowledge of woodworking machinery
Funding for new and used woodturning lathes
Access to lenders comfortable with CNC and production equipment
Flexible options: HP, Finance Lease, Operating Lease, Refinance, Debtor Finance
Clear, simple documentation
The ability to beat dealer finance in many cases
From handcrafted furniture legs to high-volume architectural components, woodturning lathes remain fundamental to woodworking production. With the right finance structure, UK workshops can invest in capable, professional lathes without tying up cash.
Hire Purchase (HP) is one of the most popular and practical ways for UK woodworking businesses to fund a woodturning lathe, from professional floor-standing machines through to industrial copy and CNC lathes. HP allows you to take immediate delivery of the lathe, spread the cost over time, and own the machine outright at the end of the agreement.
At Gable Business Finance, we regularly arrange competitive Hire Purchase facilities for new and used woodturning lathes, often improving on dealer-provided finance—particularly for higher-value or specialist machines.
Hire Purchase is well suited to wood lathes because they are durable, long-life assets that form a core part of production.
Typical HP structure:
Term length: 12–60 months
Deposit: Usually 5%–25%
Repayments: Fixed monthly payments
Ownership: Transfers to you at the end (after a small option-to-purchase fee)
You can use the lathe from day one, while spreading the cost in a predictable, cashflow-friendly way.
Hire Purchase is ideal if your intention is to keep the lathe long term. Once the agreement is completed, the machine becomes a business asset that you fully own.
Fixed interest rates (in most cases)
Fixed monthly repayments
Easier cashflow forecasting for workshops and manufacturers
This is particularly valuable where production schedules and order volumes are planned in advance.
With Hire Purchase:
You can usually claim capital allowances on the lathe from the outset
Interest payments are typically tax deductible
VAT on the full purchase price is normally paid upfront and reclaimed (subject to VAT status)
This makes HP especially attractive for profitable woodworking businesses.
Most agreements require a 5%–25% deposit, but structures can often be tailored:
Higher deposits to reduce monthly costs
Lower deposits to preserve working capital
Some Hire Purchase agreements include a balloon (final) payment, which:
Reduces monthly repayments
Pushes part of the cost to the end of the term
This can suit businesses expecting future growth or contract income.
Hire Purchase is particularly suitable when:
The lathe is a core production machine
You want long-term ownership
You wish to benefit from capital allowances
The lathe will still hold value after the finance term
This is common for professional floor-standing lathes, copy lathes, and CNC woodturning machines.
While Hire Purchase is often the default choice, other options may suit different circumstances:
The finance company retains ownership
Payments are treated as operating expenses
Often 100% offset against taxable profit
Suitable where ownership is not essential
Releases equity from existing woodworking machinery
Can be used to fund a new woodturning lathe
Preserves overdraft and bank facilities
Faster approval for smaller amounts
Less documentation
Typically higher interest rates
Suitable for lower-value lathes or urgent purchases
Select the Equipment
Choose the lathe—new or used—typically costing from a few thousand pounds to well into six figures for CNC models.
Speak to a Specialist Broker
A broker like Gable Business Finance can source competitive terms from multiple UK lenders, not just the dealer.
Approval
In many cases, approval can be secured within hours, sometimes even faster for established businesses.
Documentation
Usually includes basic business details and recent financial information. We keep the process clear and proportionate.
Woodturning lathes—especially large, copy, or CNC machines—are specialist assets. Many lenders do not understand:
Their resale value
Their production role
The difference between hobby, professional, and industrial models
By using a specialist broker, you benefit from:
Better lender selection
More flexible structures
Frequently better rates than dealer finance
Hire Purchase remains one of the most effective ways to acquire a woodturning lathe in the UK—combining ownership, tax efficiency, and manageable cashflow. With the right structure, the lathe can often pay for itself through increased output and efficiency, while preserving valuable working capital.
By working with Gable Business Finance, you gain access to tailored, competitive funding solutions designed specifically for woodturning lathes and woodworking production machinery.