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.

As a specialist asset based finance broker, we have access to a large number of asset finance providers and can help your business secure the most suitable facility. To discuss your requirements with one of our expert team, call 0800 9774833 or request a call back.

Get a quote for hire purchase

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.

For instance, a variation on this product which could be more suitable is lease purchase, which works in the same way except the residual value 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.

We have access to a wide range of hire purchase companies on the market to help businesses secure the most suitable facility for their requirements.

Call our team today on 0800 9774833 or request a call back to find out how hire purchase could work for you.

Alternatively, get an instant asset finance quote here in three easy steps.

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

Some of the funders we work with

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

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

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