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.Ownership
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.