HIRE PURCHASE
Hire Purchase can be the appropriate choice for you if you’d like the chance to own the asset outright at the conclusion of your contract. With this offering, we buy the asset on your behalf and design a personalized payback schedule that works with your spending limits. You have the option to purchase ownership of the asset for a small charge at the conclusion of the predetermined term. The benefits include:
- Simple and Uncomplicated Product – You create your own plans for upkeep, repairs, and servicing, and VAT is paid upfront
- Tax Benefits – If you are VAT registered, you may be eligible to deduct repayment interest from profits in addition to reclaiming VAT and capital allowances
- You get to decide how the finances are organized with a movable down payment, fixed or varying payments, and the choice of a balloon payment at the conclusion of the contract
- Absolute ownership – At the conclusion of the agreement’s term, you have the option to purchase the asset
- Seasonal compensation – Offered to the agricultural industry in order to adjust repayments to match seasonal income