Hire Purchase

Hire Purchase can give you the best of both worlds. You get the asset straight away but you can spread the payments over the life of the asset, and you can keep it at the end of the term for a nominal fee.

• With Hire Purchase we can finance up to 100% of the purchase price
• Payment structure agreed at the outset for easy budgeting
• With Hire Purchase you can buy the asset for a nominal fee at the end of the term
• Repayments can be matched to your cash flow and the depreciation of the asset
• You can claim immediate capital allowances on the equipment
• The interest element of the payments is tax deductible
• VAT is immediately recoverable on the whole purchase price

How does Hire Purchase work?

Hire Purchase is a way to buy the assets you need without depleting your cash reserves. It is flexible and tax efficient and can be used to buy anything from IT to plant and machinery. Hire Purchase also gives you ownership title, making it suitable if you want to purchase something you want to keep or eventually sell.

Hire Purchase is a tax-efficient way to buy assets as the interest on the payments is tax deductible and capital allowances on the equipment can be claimed immediately.

Is Hire Purchase right for you?

Hire Purchase is suitable for businesses of all sizes. Funding is on balance sheet.

Find out more about our products and services and contact us on 01342 301784 or email.

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