Hire Purchase
A Hire Purchase agreement allows your business to acquire an asset over a fixed period. The payments can be structured to fit your businesses needs, depending on factors such as the deposit, the length of the term, and whether VAT is paid upfront or deferred. At the end of the repayment period, a small purchase fee is required, after which the asset becomes the property of the business.
- Low interest rates allowing you to spread the cost
- VAT deferrals available
- Asset will be shown on your balance sheet allowing you to depreciate it
- Can claim tax relief
- NEW and used can be financed on HP
- Seasonal payments (pay less in quieter months, doesn’t change the rate)
- Decisions and pay outs within 24- 48 hours subject to document signed
- SALE & HP Back (Hire Purchase) get 100% invoice value back as long as kit has been purchased with cash within the last 6 months
