A flexible finance option for ownership, available to private individuals and businesses.
Hire Purchase is a great finance option for ownership, available for both private individuals and businesses. It’s really easy, when all payments have been made you will take ownership of the vehicle.
Usually, the full cost of the vehicle will be financed. However, part of the cost can be deferred to a balloon payment. Bear in mind, this option is only available to business users. In this case, you will have lower monthly payments with a final payment. Then, the balloon payment is agreed based on the expected resale value of the van.
By using Hire Purchase when buying a van, your business capital is not tied up in a depreciating asset. And with finance rates at an all-time low, there are plenty of cheap finance deals available. Contact our team to discuss this finance option and take advantage of our cheap van finance deals.
The benefits of Hire Purchase:
• Fixed monthly cost
• Ownership at the end of the agreement
• Flexible contract
• Balloon Payment
• Low initial outlay
• Business capital not tied up in a depreciating asset
• Finance not subject to VAT
• Interest reclaimable against tax
• Writing down allowance
• Road fund license included for the first year of the contract