Hire Purchase

Hire Purchase allows acquiring assets through instalment payments over an agreed term, with the choice to buy outright at the term’s end. It aids in budgeting by evenly distributing the investment cost over the asset’s lifespan.

This financing option is well-suited for obtaining vehicles, machinery, and equipment that retain their resale value. It provides a flexible approach to asset acquisition, empowering individuals and businesses to manage their cash flow effectively.

What are the advantages of Hire Purchase?

More time to repay

Hire Purchase enables you to spread the cost of acquiring an asset over a fixed period, making it more affordable and manageable, which can improve cash flow and budgeting.

Seasonal payments

We can structure repayments to take account of seasonal fluctuations in your cash flow.


Unlike leasing or renting, Hire Purchase allows you to eventually own the asset. After completing payments, the hirer makes a final payment, known as an option-to-purchase fee.

Tax efficient

As well as reclaiming VAT (if VAT registered), you may be able to claim capital allowances and also offset repayment interest against profits.