Hire Purchase

What is Hire Purchase?

Hire purchase enables businesses to purchase new assets, without compromising cash flow by staging the payments over a longer period. By paying a hire purchase company through a series of instalments, you avoid the need to buy the asset outright and reduce the impact of the investment on your business.

Although you’ll be responsible for the asset’s maintenance throughout the duration of the hire purchase contract, the fixed monthly payments help with budgeting and, at the end of the agreement, your company will have the option to buy the asset.

A variation on this product is lease purchase, which works in the same way except the residual value (an estimated future value of the asset at the end of the contract, based on its depreciation) is offset until the end of the agreement. This helps to reduce the repayments, and also ensures you own the asset outright at the end of the contract.

Get a quote

How does hire purchase work?

  1. Hire purchase company buys the asset you require
  2. You then lease it from the hire purchase company in return for regular payments
  3. Once the hire purchase contract is over, you decide whether or not to buy the asset

Is hire purchase right for my business?

This depends on a number of factors, for instance how long you require the asset for, or whether you might benefit from an additional funding boost.

As an independent commercial finance broker, we have access to a wide range of hire purchase companies on the market to help businesses secure the most suitable facility.

Email info@hiltonbaird.co.uk or call our team today on 0800 9774833 to find out how hire purchase and other asset finance solutions could work for you.

We were really impressed with the speed at which we could get a facility in place. Hilton-Baird recognised and related to our situation and worked with speed and efficiency to get us up and running.

Steve Marney, Managing Director, South East Construction & Recruitment

Funders we work with

  • Ashley Commercial Finance
  • Skipton Business Finance
  • Hitachi Capital Invoice Finance
  • IGF Invoice Finance
  • Santander Corporate & Commercial
  • Davenham Asset Finance
  • Trade Finance Partners
  • 1pm
  • iwoca
  • Asset Advantage
  • Bibby Financial Services
  • Secure Trust Bank
  • Royal Bank of Scotland
  • Metro Bank SME Finance
  • Pulse Cashflow Finance
  • Ultimate Finance Group
  • Close Brothers Invoice Finance
  • Leumi ABL
  • Creative Capital
  • Market Invoice
  • Amicus Commercial Finance
  • Team Factors
  • Factor 21
  • Lloyds Bank Commercial Finance
  • Everline
  • Davenham Trade Finance
  • Invoice Cycle
  • Aldermore Invoice Finance
  • Woodsford Tradebridge
  • Roma Finance
  • Outsauce
  • Nucleus Commercial Finance
  • Positive Cashflow Finance
  • Partnership Invoice Finance
  • Platform Black
  • Henry Howard Cashflow Finance
  • Catalyst Finance
  • PNC Business Credit
  • Barclays
  • Working Capital Partners
  • Assetz Capital
  • Shawbrook Business Credit
  • Regency Factors
  • Innovation Finance
  • GapCap Cashflow Finance
  • ABN AMRO Commercial Finance
  • Calverton Finance

Authorised and regulated by the Financial Conduct Authority (FCA number 730445)
We are a credit broker and not a lender and offer credit facilities from a panel of lenders

Our website uses cookies. For more information about managing cookies, visit our Privacy and Cookie Policy. Continue