Asset finance new business increased by 20% in April compared to the same month last year at £2.54bn (3.48bn), according to the Finance and Leasing Association (FLA).
Plant and machinery finance increased and business equipment finance grew by 12% year-on-year, reaching £494m and £188m respectively.
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IT equipment finance new business was at £137m in April, a 78% growth year-on-year.
The highest growth was recorded in aircraft, ships and rolling stock finance as new business rose by 112% to 39m.
Car finance and commercial vehicle finance were the segments with the highest new business volumes last month. Car finance rose by 27% year-on-year to £895m, while commercial vehicle finance soared by 18% to £591m.
Geraldine Kilkelly, head of research and chief economist at the FLA, said: "The asset finance market reported another month of strong growth in April. Through the provision of leasing and hire purchase, FLA members financed 28.3% of UK investment in machinery, equipment and purchased software in the twelve months to March 2015, up from 27.1% in the same period in 2014."
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