Hire Purchase
Own your asset while spreading the cost
Hire purchase - otherwise known as lease purchase - is a simple repayment facility, where you
eventually own the asset at the end of your agreement.
Hire purchase benefits
- Total control - the asset is yours at the end of the agreement
- Flexibility in your repayments - makes for easy budgeting
- Fixed or variable interest options - it's your decision which is best for
you - Tax advantages - normally you can claim writing-down allowances and
perhaps capital grants, while repayment interest may be offset against
profits and VAT is usually reclaimable (special rules apply to cars)
