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.

Find the right hire purchase facility

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
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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.

Finding the right hire purchase company

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.

We can discuss your unique needs and wants and help you to make the right decision when it comes to your funding.

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

Alternatively, find the right asset finance facility here.

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

  • Optimum Finance
  • Sonovate
  • Pulse Cashflow Finance
  • Accelerated Payments
  • ABN AMRO Commercial Finance
  • Trade Finance Partners
  • inFund
  • Partnership Invoice Finance
  • Nucleus Commercial Finance
  • FIBR Tech Limited
  • PNC Business Credit
  • Haydock Finance Ltd
  • Berkeley Trade Finance Ltd
  • Santander Corporate & Commercial
  • Skipton Business Finance
  • Regency Factors
  • Barclays
  • MaxCap
  • Metro Bank SME Finance
  • Woodsford Tradebridge
  • Merchant Money
  • Bibby Financial Services
  • Royal Bank of Scotland
  • Creative Capital
  • Team Factors
  • Aldermore Invoice Finance
  • IGF Invoice Finance
  • Peak Cashflow
  • Giant
  • Shawbrook Business Credit
  • Secure Trust Bank
  • Investec
  • Leumi ABL
  • Lloyds Bank Commercial Finance
  • Davenham Trade Finance
  • Ultimate Finance Group
  • Blazehill Capital
  • Roma Finance
  • iwoca
  • 4Syte
  • Asset Advantage
  • Close Brothers Invoice Finance
  • Davenham Asset Finance
  • Time Finance
  • MarketFinance
  • InvoCap
  • Boost Capital
  • Clear Factor

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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