Hire Purchase provides the flexibility to spread the cost of an asset over a fixed period. It offers you fixed monthly repayments, so you can manage your budget effectively over the repayment term. Plus, when the repayment term is finished, you own the asset.
Hire Purchase solutions designed to help
A Hire Purchase agreement allows outright ownership of the asset at the end of the agreement term.
In addition the asset may potentially be claimed against your taxable profit, under capital allowances, which is an advantageous tax benefit that should be explored.
Benefits of Hire Purchase include:
- Easier cash flow budgeting as repayments are fixed
- Capital preservation - existing funds can be used elsewhere
- Interest charges can be offset against profits for taxation
- Outright ownership on completion of the agreement
How to apply for a Hire Purchase agreement
Simply tell us how much you wish to finance, the purpose and the term you prefer. Our finance agreement will be tailored to suit you with fixed payments over an agreed term.
With our in-house specialist underwriters providing quick decisions the funds will be paid into the suppliers bank account.