Hire Purchase
Hire purchase allows you to spread the cost of an asset typically over a period up to its economic life, with fixed regular payments providing you with certainty.
The regular payment profile can be adjusted, subject to status, depending on the size of the final balloon payment and/or initial deposit.
Writing down allowances are usually claimable on your agreement and subject to rules, you may also be able to offset repayment interest against your profits.
Depending on the funding bank, fixed and floating interest rates are available. On making the final payment you take title to and own the asset.
All products are subject to status and individual lenders’ underwriting.