Hire Purchase Broker

Company Finances Ltd

Tel: 01242 250 000

Indicative HP Quote Request

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Business Funding Solutions

We excel in developing intelligent business funding solutions to improve future cash flow, profits growth and business expansion.

 

As a business funding broker, we provide free, impartial advice to businesses that want to benefit from a plethora of business funding knowledge, know-how and expertise.

 

Working with you, we use our entrepreneurial and financial skills to understand your funding needs and then we work with our high street banks and specialist lenders to put your tailored finances into place for you.

FREE Business Funding Review

Hire Purchase

Minimise upfront costs by hiring assets over an agreed time with an option to purchase at the end

With Hire Purchase you can obtain new equipment or machinery without having to buy it outright. You have all the benefits of ownership including capital allowances without compromising your cashflow. Unlike Leasing, when you choose Hire Purchase you own the asset once you’ve paid all the instalments and the final option to buy fee.

 

How Does Hire Purchase Work?

 

With Hire Purchase, the bank will purchase equipment on your behalf, and provide it for your business to use. You will then pay pre-agreed monthly instalments for the length of the contract, at which point you will be given an option to buy the equipment for a small final fee. This option to purchase amount is small because your monthly payments will have included all interest and capital payments for the equipment. Therefore, if you do not intend to buy the equipment at the end of the contract, you may be better opting for a leasing agreement instead.

 

Benefits of Hire Purchase Include:

 

• Avoids large upfront payments and spreads the cost of buying assets

• All payments including the final option-to-buy fee are pre-agreed

• Once the final option-to-buy has been paid the asset is yours

• You can refinance existing assets to turn their equity back into cash

• Favourable interest rates compared to some other sources of finance

• You can claim capital allowances against tax from the start of HP

 

Hire Purchase is Suitable for Businesses That:

 

• Are comfortable with the idea of spreading asset purchase costs

• Can show that they can afford future Hire Purchase contract costs

• Need to acquire assets without compromising their cash flow position

• Wish to control asset buying costs with fixed monthly repayments

• Want to hold their assets and depreciation within their Balance Sheet

 

For a free no obligation quote, please call us on 01242 250 000, or fill out the form at the top of this page and we will contact you. We are a broker, not a lender so you will receive quality impartial advice from us.

Company Finances Ltd

Business Finance Broker

Tel: 01242 250 000