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What Is Hire Purchase?
The cost of purchasing new tools, machinery, vehicles and other assets for your business can put a strain on vital capital resources.
With hire purchase, you'll have the freedom to access these essential pieces of equipment by spreading their costs over an affordable number of months or years. You'll have full, unrestricted use of the asset as long as you keep up with your repayments and, once your final instalment has been made, you'll have the option to complete an outright purchase.
Capitalise works with industry-specific hire purchase companies who offer a huge range of pre-funded assets that can be used across almost any area of your business.
At Capitalise, we work with specialist lenders who can not only provide you with the funds your business needs, but have a proven track record supporting similar businesses within your sector.
Or give us a call today on 0203 696 9700.
Why Use Hire Purchase?
Leasing arrangements that suit your business with the option of full ownership.
Preserve Working Capital
Rather than outlaying significant amounts of capital to secure your next asset purchase, you'll typically only have to pay a small deposit with the remaining balance of the asset paid over a term tailored to your budget.
Take advantage of the tax benefits that come with hire purchase agreements by offsetting interest repayments against your profits and reclaiming VAT.
Flexible Interest Choices
Choose from either fixed or variable interest rates depending on your budgeting strategy. With fixed interest payments, you'll know exactly what you'll need to repay each month, or alternatively opt for variable rates which can fluctuate during your contract term.
Lightning Fast Applications
At Capitalise, we'll match your requirements with suitable hire purchase companies in as little as 3 minutes, leaving you to focus on what matters most – your business.
Who Is Hire Purchase For?
Using traditional business loans to source funding for your next asset purchase can be both time consuming and expensive, particularly during times of financial uncertainty.
Hire purchase offers SMEs and mature businesses a viable, affordable alternative, significantly reducing the initial outlay and structuring repayments to suit your existing and projected cash flow.
As specialists within this field, hire purchase companies can quickly purchase much needed assets on your behalf, using their wealth of experience supporting similar businesses within your sector. Complete your Capitalise profile today and discover lenders who understand your business.
Or give us a call on 020 3696 9700.
How Does Hire Purchase Work?
Access key assets to drive your business forwards.
From telephony systems and IT infrastructure to plant machinery and vehicles, hire purchase can be used to fund almost any equipment purchase for your business.
Hire purchase companies will buy the asset on your behalf and calculate monthly repayments based on the initial cost of the asset, projected residual value and interest. The term is usually structured over 1-5 years however some lenders are flexible with these time frames.
At the end of the agreement, you'll have the option to complete the outright purchase of the asset, or simply hand it back to the lender who will sell it on your behalf. In some instances, you may even receive a rebate on your payments depending on the final sale value of the equipment.
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