Hire Purchase

Hire Purchase (HP) allows you to buy the vehicle you want and spread the cost to fit your budget.  Simply choose your vehicle, decide how much you want to pay as a deposit (minimum deposit equal to VAT) and then we use direct debit to pay the monthly instalments. You own the vehicle at the end of the agreement.

1. Cash flow
   Hire Purchase allows you to pay monthly installments meaning that you can use the rest of your money on your business or other personal items.
   
   
2. Repayment Flexibility
   You choose the term that's right for your and your budget.
   
   
3. Fixed monthly repayments
   Your new vehiicle will cost the same every month meaning that you can plan your finances.
   
   
4. Deposit
   With a minimum of only VAT . In certain circumstances we can also finance the VAT.
   
   
5. VAT free monthly repayment
   When you pay the VAT upfront, there's no VAT on your monthly payments.
   
   
6. Tax advantages
   If you're VAT registered, you can claim the deposit back on your next VAT return.
   
   
7. Tax relief
   You can claim 100% tax relief on all interest charges.
   
   
8. Company asset
   Because your vehicle is an asset, you can use the applicable writing down allowance and offset this against your taxable profits.
   
   
9. Ownership
   At the end of your agreement, you will own the vehicle.
   
   
10. Equity
    You own the equity in your vehicle.  Any value above and beyond the settlement figure is yours.  If you've finished the repayments, the vehicle is yours and  you can use this as the deposit against your next vehicle.