Hire Purchase & Lease Purchase
Available to both Consumer and Business Customers. Hire Purchase is a very straightforward repayment facility where you ultimately own the asset.
For the business user the key benefits are:
- ownership and control of the asset, potential for claiming writing down allowances against taxable profits
- interest elements of repayments can normally be offset against taxable profits
- Fixed monthly payments – making budgeting easier
As Hire Purchase, this is also a facility whereby you ultimately own the vehicle.
- It allows a degree of flexibility whereby payments are structured, enabling low initial rentals to be taken and the ability to set a final balloon payment, at the end of the agreement. This makes the interim payments much lower. The balloon payment is the full responsibility of the customer