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, Hilton-Baird Financial Solutions has access to a wide range of asset finance companies 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.