Hire Purchase
We ensure all our customers benefit from a funding solution that best suits their specific requirements
Hire Purchase agreements allow the customer to acquire equipment by paying a fixed monthly instalments whilst retaining ownership at the end of the agreement.
Hire Purchase allows you to vary the level of deposit. The value of the equipment, the length of time you wish to run the contract for and the interest rate will then determine the monthly payment.
Hire Purchase is available on both new and used equipment over finance terms from 24 months to 60 months. To reduce your monthly repayments a balloon can be built into the end of your agreement which is paid to clear the outstanding balance due to the finance company.
Although title does not legally pass until the end of the term, the equipment will appear from the outset as an asset on the balance sheet, reducing liability to tax via capital allowances. The instalments that are due then also appear as a liability on the balance sheet with the interest charges being expensed to the profit and loss account.
Why hire purchase?
For further details please contact us on 0800 432 0440 or via email
