Hire purchase contracts are an excellent way to acquire essential equipment and vehicles without depleting your cash reserves.
With a hire purchase agreement, you’ll own the asset at the end of the financing period. Instead of paying the full cost upfront, you’ll spread the payments over monthly or quarterly instalments that fit your business needs.
A popular and most common route, a hire purchase agreements are simple and flexible. Offering a variety of options for structuring your terms , with the product commonly being used for financing hard assets such as; vehicles, tankers, plant, and machinery. Hire purchase provides great value with Fixed Rate or Variable Rate contracts. Repayments can be made monthly or quarterly, with an initial deposit paid upfront or within the first few payments. Your repayment schedule can be tailored to your business, with options for equal monthly payments, accelerated payments, seasonal adjustments, and payment holidays
Low Interest rates on new and used assets with long term options available.
Options to Pay VAT upfront, defer or spread it over payments.
Full ownership at the end of the finance agreement
Asset goes on your balance sheet, allowing you to depreciate it.
Sale & HP back available
Looking for budget-friendly financing for your next purchase of equipment or vehicles? Hire purchase could be the perfect fit. Contact us today, you could receive an answer on your finance in as little as a few minutes!
Padington Business Finance Ltd (FRN No: 1019920) are an appointed representative of Alpha Asset Finance Ltd who are authorised and regulated by the Financial Conduct Authority (FRN No : 804584). We are a credit broker and not a lender and work with a panel of lenders from whom we will typically be paid a commission for effecting the introduction. The amount we receive could vary by lender and may be a higher amount in relation to certain products compared with other products available. The payment received may also be higher dependent on the interest rate you are charged and this can also be affected by the term and product you receive. Typically commission received is a fixed fee or a percentage of the amount you borrow. We will not charge you a fee for our services. Registered address Derngate Mews, Derngate, Northampton, NN1 1UE. NACFB Membership number: M/0015/20. ICO number ZA446835.