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Types of Finance

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Finance Types

Hire Purchase

Hire purchase

Spread the cost of owning your assets

Hire purchase - Also known as lease purchase - is the most common product, where you eventually own the asset at the end of your agreement.

Hire purchase advantages

  • Total control - the asset is yours at the end of the agreement
  • Flexibility in your repayments - makes for easy budgeting
  • Tax advantages - generally you can claim write-down allowances in your accounts if you are a business user, while repayment interest may be offset against profits and VAT is usually reclaimable (different rules for commercials and cars)

There are several options avaialable with this type of finance. We can offer a flexible deposit, fixed payments or a final lump sum balloon payment.

What can you finance with hire purchase?

  • Cars and vans
  • HGVs
  • Buses and coaches
  • Plant and machinery
  • Agricultural equipment
  • Construction and materials handling equipment

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