Hire Purchase

Hire Purchase offers the commercial buyer a range of choices, enabling you to structure the finance contract to exactly suit your needs.

With flexible contract terms, from 24 to 60 months, you can select the length of contract to best suit your requirements.

Monthly repayments are based on the amount you wish to finance, less the balloon (final instalment) at the end of the hiring period. Costs are known in advance, and fixed repayments make budgeting easier.

Whether you wish to upgrade a vehicle, or acquire an additional one, Hire Purchase offers many advantages to business. Where the vehicle is used for income producing purposes, interest charges and depreciation can be tax-deductible.

Hire Purchase enables you to place a deposit into the contract, either as cash or by using the equity in your current vehicle as a trade-in.

You may also nominate the balloon (final payment) on your contract, providing you with even more flexibility, to tailor the repayment to suit your budget.

For your convenience, you can often  organise computer direct debiting of your monthly payment from your nominated account. Most modern car dealerships offer this service at no additional cost to you.

They can advise you on the full range of options and tailor a finance package to suit your needs.

In most cases with Hire Purchase, no additional security will be required, however, where the hirer is a company, we may be required to provide a guarantee from the directors of the hirer or some other appropriate persons.