With Hire Purchase you can fix the cost of acquiring an asset but spread the cost of purchase over time. Typically, agreement terms are between 12 and 72 months, you simply put down a deposit and pay the balance as monthly instalments. When comparing the value of money over time using a discounted cash flow analysis, Hire Purchase can offer a more cost effective alternative to purchasing outright with cash.
In more detail
Hire Purchase is an on-balance sheet method of funding the purchase of assets for business use. There is an initial deposit and the remaining cost is spread across fixed monthly instalments with a balloon payment at the end of the agreement.
Fund many asset types, including but not limited to;
- Agricultural equipment
- Construction equipment
- Manufacturing and materials handling equipment
- Transportation and haulage equipment
- A range of soft assets including office equipment and software*
- Fixed monthly costs spread over the course of the finance agreement
- On-balance sheet funding
- Business purchases may benefit from Annual Investment Allowance tax savings and VAT can be reclaimed
- Fixed and Variable Interest Rates available
- Free up vital capital in the business
Who can we help?
We can help many businesses to fund their capital equipment investments. Our network of intermediary partners and internal team of experts in asset finance can help you assess which funding option is right for you and get you the funding that you need.
Is it for me?
If you’re looking to invest in capital equipment but don’t want to tie up vital cash flow, asset finance may be right for you. If you’d like to know more, simply complete the call back form and we’ll get in touch.
* standard call rates even for mobiles Worried about cost? 03 numbers are at standard call rates and included in most mobile and landline operators inclusive minute packages.
Call us on
0333 321 4000
* standard call rates even from mobiles Worried about cost? 03 numbers are at standard call rates and included in most mobile and landline operators inclusive minute packages